0001628280-26-034490
SEC filingRevenue was $3.2M (898.4%) Gross Profit was $1.8M (464.3%) Operating Income was -$8.7M (-40.5%) Net Income was -$9.5M (-53.6%)
Net cash used in operating activities was -$5.8 million, compared to -$4.2 million in the prior year, driven by higher operating expenses. Capital expenditures were $0.2 million, resulting in free cash flow of -$6.0 million. The company has not disclosed specific financing activities in this narrative, but the cash burn underscores the need for continued capital raising to fund operations.
The company's liquidity position is not detailed in this narrative, but management notes that changing circumstances may require faster capital expenditure than anticipated. The company uses financial metrics such as operating income and cash flows to make key operating decisions, including budget allocation between research and development and selling, general and administrative expenses.
Management continues to evaluate capital needs and may need to spend more than currently expected due to circumstances beyond its control. The company's ability to execute on its mission pipeline and manage costs will be critical to achieving profitability.