Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

v3.25.2
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 26,061,000 $ 91,139,000
Marketable securities - available-for-sale debt securities (amortized cost of $0 and $60,451) net of allowance for expected credit losses of $0 and $0 0 60,466,000
Accounts receivable, net of allowance for expected credit losses of $0 and $0 9,313,000 1,454,000
Inventory, net 11,411,000 7,320,000
Other current assets and prepaid expenses 31,330,000 27,790,000
Total current assets 78,115,000 188,169,000
Restricted cash 1,717,000 2,067,000
Other non-current assets 94,000 629,000
Operating lease right-of-use assets, net of accumulated amortization of $20,721 and $17,750 18,748,000 19,909,000
Property, plant and equipment, net of accumulated depreciation of $75,028 and $51,893 28,152,000 31,309,000
Intangible assets, net of accumulated amortization of $6,141 and $5,567 3,807,000 3,880,000
Total assets 130,633,000 245,963,000
Current liabilities    
Accounts payable 9,418,000 8,692,000
Operating lease liabilities, current 4,514,000 4,709,000
Accrued expenses and other current liabilities 24,526,000 32,919,000
Restructuring provision 2,355,000 5,911,000
Deferred revenue, current 10,700,000 12,296,000
Total current liabilities 51,513,000 64,527,000
Operating lease liabilities, non-current 18,491,000 19,263,000
Deferred revenue, non-current 101,419,000 95,815,000
Borrowings, non-current 25,675,000 50,237,000
Other liabilities, non-current 4,493,000 4,272,000
Total liabilities 201,591,000 234,114,000
Stockholders' equity    
Common stock - Ordinary shares par value £0.001, 2,108,130,546 authorized and 1,590,309,546 issued and outstanding (2024: 2,039,252,874 authorized and 1,535,653,620 issued and outstanding) 2,156,000 2,085,000
Additional paid in capital 1,109,409,000 1,105,653,000
Accumulated other comprehensive loss (10,612,000) (1,902,000)
Accumulated deficit (1,171,911,000) (1,093,987,000)
Total stockholders' equity (70,958,000) 11,849,000
Total liabilities and stockholders' equity $ 130,633,000 $ 245,963,000