I would think this is pre-launch sales. It's probably hedged with "subject to certification" risk, but it's still pretty solid, and if it came with sufficient deposit fundings to bootstrap the assembly line, all to the good. But, my understanding is that both boats and aircraft (and this is a join over the two) incur pretty high compliance costs for insurance and regulatory certification. Its a long slow process, it is not as simple as "do it in the USA and it's done" by any stretch.
(their FAQ says: "REGENT’s seagliders are regulated as maritime vessels, not airplanes.")
Many transport manufacturing startups come unstuck with actually making product. Real-world consequences to advanced materials, the massive cost-suck of making the goods repeatably buildable without a huge tail-cost of remediation, digging out from development cost, it's a nightmare.
I'd love this to work, Having flown as a passenger on small aircraft island hoppers in New Caledonia to get to Isle des Pins and like places in other countries, There definitely is a niche for "get from A to B, with sea between" which this suits.
It's also possible there's a set of marine/air conditions this is better than aircraft for: it stays below 100m would make it much easier to "fly" in some conditions. Equally, if its really only coastal/lake waters and not when its more than 2m swell (arbitrary figure for example purposes) then its launch conditions could be highly variable.
Could this to Vancouver to the Island? The Island to The Olympic peninsula? Seattle into the sound? Could it make the Catalinas from California coastline? Or Baja Cali to the "mainland" of Mexico?