CBLL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-10

• Product cost of revenue for the three months ended June 30, 2026, decreased $0.5 million, or 22% compared to the same period of fiscal year 2025. Product cost of revenue for the six months ended June 30, 2026 increased $0.2 million, or 4%, compared to the same period of fiscal year 2025. The decreas…

• Sales and marketing expenses increased $7.0 million, or 40%, for the three months ended June 30, 2026, compared to the same period of fiscal year 2025. The increase was primarily due to an increase in personnel and related expenses directly associated with an increase in headcount.

• Sales and marketing expenses increased $11.4 million, or 32%, for the six months ended June 30, 2026, compared to the same period of fiscal year 2025. The increase was primarily due to an increase in personnel and related expenses directly associated with an increase in headcount.

• General and administrative expenses increased $3.4 million, or 30%, for the three months ended June 30, 2026, compared to the same period of fiscal year 2025. The increase was primarily due to an increase of $1.4 million in personnel and related expenses directly associated with an increase in headc…

• General and administrative expenses increased $8.8 million, or 41%, for the six months ended June 30, 2026, compared to the same period of fiscal year 2025. The increase was primarily due to an increase of $2.0 million in personnel and related expenses directly associated with an increase in headcou…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• Product cost of revenue for the three months ended March 31, 2026, increased $0.7 million, or 30%, compared to the same period of fiscal year 2025. The increase in cost of goods sold for products was primarily due to an increase in headband sales to new and existing active accounts, partially offset…

• General and administrative expenses increased $5.4 million, or 54%, for the three months ended March 31, 2026, compared to the same period of fiscal year 2025. The increase was primarily due to an increase of $0.6 million in personnel and related expenses directly associated with an increase in head…

• Interest and other income, net decreased $0.4 million for the three months ended March 31, 2026, compared to the same period for fiscal year 2025. The decrease in interest income was primarily due to lower balances of cash equivalents and marketable securities, compared to the same period of the pri…

• Debt — Principal payments required on long-term debt outstanding at March 31, 2026, was $20.0 million. Please refer to the section titled “Liquidity” in Note 1 for a discussion of changes in commitments.

Text added vs the prior filing · source: 10-Q · 2026-08-10

• There were no changes in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act during the quarter ended June 30, 2026 covered by this Quarterly Report on Form 10-Q that have materially affected, or are …

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that these disclosure controls and procedures were effective at a reasonable assurance level as of March 31, 2026.

• There were no changes in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act during the quarter ended March 31, 2026 by this Quarterly Report on Form 10-Q that have materially affected, or are reasona…

Text added vs the prior filing · source: 10-Q · 2026-08-10

• On August 5, 2026, we entered into the Credit Agreement, which provides for term loan and revolving loan facilities. At closing, we borrowed $20.0 million under the revolving loan facility and no term loans and used the proceeds to repay in full all amounts outstanding under the VLSA, which was term…

• sell, transfer, lease, license or otherwise dispose of assets, other than permitted asset dispositions;

• create, incur, assume, guarantee or otherwise become liable with respect to additional indebtedness or contingent obligations, other than permitted indebtedness and contingent obligations;

• consolidate, merge or amalgamate with another person, other than specified permitted transactions;

• make investments or acquisitions, including acquisitions of businesses, assets, products, product lines or intellectual property, other than permitted investments;

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• We have entered into a venture loan and security agreement, dated as of February 6, 2024, by and among us, Horizon Technology Finance Corporation, as a lender and collateral agent, and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (“SVB”), as a lender (the “VLSA”). Concurren…

• sell, transfer, lease, or dispose of our assets subject to certain exclusions;

• create, incur, assume, guarantee, or assume additional indebtedness, other than certain permitted indebtedness;

• consolidate, merge with, or acquire any other entity, or sell or otherwise dispose of all or substantially all of our assets; and

• See also “Management’s Discussion and Analysis of Financial Condition and Results of Operations”—“Liquidity and Capital Resources” for more information regarding the covenants under the VLSA and the Revolving Facility. The covenants in the VLSA and the Revolving Facility limit our ability to take ce…

Text added vs the prior filing · source: 10-Q · 2026-08-10

• On August 5, 2026, the Company entered into a Credit, Security and Guaranty Agreement (the “Credit Agreement”) by and among the Company, as borrower, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer, and the lenders from time to time party thereto. The Credit Agreemen…

• At closing, the Company borrowed $20.0 million under the revolving facility and has no balance drawn under the term loan. The proceeds of borrowings under the Credit Agreement were used to repay in full the Company's outstanding obligations under the VLSA described in Note 9. Future borrowings will …

• The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement, a copy of which is filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q and is incorporated herein by reference.

• The information contained in this Item 5 is intended to satisfy the Company’s reporting obligations under Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant) of Form 8…

• * Intended to satisfy the affirmative defense of Rule 10b5-1(c).

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• During the quarter ended March 31, 2026, none of our directors or officers (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended) adopted, modified or terminated a “Rule 10b5-1 (c) trading arrangement” or a “non-Rule 10b5-1 trading arrangement”, as each term is defined i…