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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (1,265,394) $ (129,649)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 41,359 13,150
Stock-based compensation 205,366 67,607
(Gain) loss on change in fair value of warrant liabilities 882,930 (11,398)
Deferred income taxes (19,885) 0
Amortization of premiums and accretion of discounts on available-for-sale securities (6,167) (7,086)
Other, net 5,872 4,291
Changes in operating assets and liabilities:    
Accounts receivable (15,849) 7,341
Prepaid expenses and other current assets (42,572) (9,899)
Accounts payable (17,413) (463)
Accrued expenses and other current liabilities 27,777 612
Unearned revenue 268 (4,232)
Other assets and liabilities (4,969) 3,471
Net cash provided by (used in) operating activities (208,677) (66,255)
Cash flows from investing activities:    
Purchases of property and equipment (7,628) (14,399)
Capitalized software development costs (2,961) (3,064)
Purchases of available-for-sale securities (1,252,367) (241,162)
Maturities of available-for-sale securities 407,730 318,192
Businesses acquired, net of cash acquired (13,100) 0
Other investing, net (5,306) (1,201)
Net cash provided by (used in) investing activities (873,632) 58,366
Cash flows from financing activities:    
Proceeds from common stock and warrant issuance, net of issuance costs 1,358,254 0
Proceeds from stock options exercised 11,468 2,270
Proceeds from warrants exercised 6,708 0
Other financing, net 986 144
Net cash provided by (used in) financing activities 1,377,416 2,414
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 375 4
Net change in cash, cash equivalents and restricted cash 295,482 (5,471)
Cash, cash equivalents and restricted cash at the beginning of the period 56,840 38,081
Cash, cash equivalents and restricted cash at the end of the period 352,322 32,610
Supplemental disclosures of non-cash investing and financing transactions    
Operating lease right-of-use assets subject to lease liability 0 6,129
Noncash reclassification of warrant liabilities to equity upon exercise 185,384 0
Bonus settled in restricted stock units 6,969 11,443
Net share settled stock option exercises 853 1,016
Equity issued for acquisitions 2,405,998 0
Property and Equipment [Member]    
Supplemental disclosures of non-cash investing and financing transactions    
"Property and equipment" and "Intangible asset" purchases in accounts payable and accrued expenses 3,195 559
Intangible Asset [Member]    
Supplemental disclosures of non-cash investing and financing transactions    
"Property and equipment" and "Intangible asset" purchases in accounts payable and accrued expenses $ 0 $ 226