Quarterly report [Sections 13 or 15(d)]

Balance Sheet Components

v3.25.1
Balance Sheet Components
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
Prepaid and Other Current Assets
Prepaid and other current assets consisted of the following (in thousands):
March 31,
2025		 December 31,
2024
Prepaid fixed asset
 $ 1,000  $ 750 
Prepaid insurance
 63  68 
License fees
 34  78 
Prepaid rent
 1  53 
At-the-market receivables settled on January 1, 2025
 —  1,404 
Other 63  56 
Total $ 1,161  $ 2,409 
Property and Equipment, net
Property and equipment, net, consisted of the following (in thousands):
March 31,
2025		 December 31,
2024
Equipment $ 8,870  $ 7,603 
Vehicles 2,059  2,059 
Leasehold improvements 371  369 
Construction-in-progress 88  31 
Computers 78  67 
Furniture and fixtures 26  4 
Total 11,492  10,133 
Less: accumulated depreciation (2,215) (1,797)
Property and equipment, net $ 9,277  $ 8,336 
Depreciation expense for the three months ended March 31, 2025 and 2024 was $0.4 million and $0.1 million, respectively.
Intangible Assets, net
Intangible assets, net, consists of the following (in thousands):
March 31,
2025		 December 31,
2024
Patents $ 1,800  $ 1,800 
Research license 375  375 
Customer relationships 3  3 
Total 2,178  2,178 
Less: accumulated amortization (1,073) (1,018)
Intangible assets, net $ 1,105  $ 1,160 
The following table represents the total estimated amortization of intangible assets for the five succeeding years and thereafter as of March 31, 2025 (in thousands):
Estimated
Amortization
Expense
2025 (remaining) $ 166 
2026 183 
2027 180 
2028 181 
2029 180 
Thereafter 215 
Total $ 1,105 

For the three months ended March 31, 2025 and 2024, amortization expense was approximately $0.1 million and $0.1 million, respectively. As of March 31, 2025, the remaining weighted-average amortization period for acquired intangible assets was 5.8 years.
Deferred Debt Issuance Costs
The Company's deferred debt issuance costs were fully amortized as of December 31, 2024, with no additional deferred debt issuance costs recorded as of March 31, 2025.
During the three months ended March 31, 2024, the Company recorded amortization expense $0.9 million.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
March 31,
2025		 December 31,
2024
Accrued project costs $ 815  $ 522 
Professional fees 449  341 
Payroll and related expense
 388  1,079 
Bonus —  1,170 
At-the-market offering payable —  1,130 
Other expenses 41  534 
Total $ 1,693  $ 4,776