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LEASES (Tables) | 6 Months Ended
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Jun. 30, 2026
Leases [Abstract] |
Schedule of Operating and Finance Leases | The balances for the operating and finance leases where the Company is the lessee are presented as follows within the Company’s condensed consolidated balance sheets (in thousands):
| June 30, 2026 |  | December 31, 2025
Operating leases: |  |  |
Right-of-use assets | $ | 249,019 |  |  | $ | 241,974 |
Other current liabilities | $ | 67,198 |  |  | $ | 64,171 |
Other long-term liabilities | 228,041 |  |  | 225,434 |
Total operating lease liabilities | $ | 295,239 |  |  | $ | 289,605 |
Finance leases: |  |  |
Property, plant and equipment, net(1) | $ | 102,161 |  |  | $ | 185,721 |
Total finance lease assets | $ | 102,161 |  |  | $ | 185,721 |
Finance lease liabilities, current portion | $ | 5,045 |  |  | $ | 84,222 |
Finance lease liabilities, net of current portion | 102,685 |  |  | 104,559 |
Total finance lease liabilities(1) | $ | 107,730 |  |  | $ | 188,781 |
(1) As of June 30, 2026 and December 31, 2025, the Company recorded finance lease assets of $92.7 million and $95.3 million, respectively, and finance lease liabilities of $98.8 million and $98.9 million, respectively, related to certain facility leases assumed in connection with the asset acquisition from Nikola Corporation.
Schedule of Lease Cost | The components of lease expense were as follows within the Company’s condensed consolidated statements of operations and comprehensive loss (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Operating lease expense: |  |  |  |  |  |  |
Operating lease expense(1) | $ | 26,669 |  |  | $ | 19,217 |  |  | $ | 49,989 |  |  | $ | 35,698 |
Variable lease expense | $ | 588 |  |  | $ | 607 |  |  | $ | 1,181 |  |  | $ | 1,177 |
Finance lease expense: |  |  |  |  |  |  |
Amortization of leased assets | $ | 2,423 |  |  | $ | 1,745 |  |  | $ | 4,837 |  |  | $ | 2,294 |
Interest on lease liabilities | 3,278 |  |  | 2,746 |  |  | 6,569 |  |  | 3,935 |
Total finance lease expense | $ | 5,701 |  |  | $ | 4,491 |  |  | $ | 11,406 |  |  | $ | 6,229 |
Total lease expense | $ | 32,958 |  |  | $ | 24,315 |  |  | $ | 62,576 |  |  | $ | 43,104 |
(1) Excluded short-term leases, which were not material. Other information related to leases where the Company is the lessee was as follows:
| June 30, 2026 |  | December 31, 2025
Weighted-average remaining lease term (in years): |  |  |
Operating leases | 5.2 |  | 5.2
Finance leases | 16.4 |  | 9.9
Weighted-average discount rate: |  |  |
Operating leases | 11.77 | % |  | 11.50 | %
Finance leases | 8.03 | % |  | 7.33 | %
Schedule of Operating Lease Maturity | As of June 30, 2026, the maturities of the Company’s operating and finance lease liabilities (excluding short-term leases) were as follows (in thousands):
| Operating Leases |  | Finance Leases
2026 (remainder of the year) | $ | 48,733 |  |  | $ | 6,592 |
2027 | 86,930 |  |  | 12,855 |
2028 | 71,888 |  |  | 10,972 |
2029 | 60,086 |  |  | 8,621 |
2030 | 47,379 |  |  | 8,752 |
2031 | 25,437 |  |  | 8,915 |
Thereafter | 62,071 |  |  | 170,750 |
Total minimum lease payments | 402,524 |  |  | 227,457 |
Less: Interest | (107,285) |  |  | (119,727) |
Present value of lease obligations | 295,239 |  |  | 107,730 |
Less: Current portion | (67,198) |  |  | (5,045) |
Long-term portion of lease obligations | $ | 228,041 |  |  | $ | 102,685 |
Schedule of Finance Lease Maturity | As of June 30, 2026, the maturities of the Company’s operating and finance lease liabilities (excluding short-term leases) were as follows (in thousands):
| Operating Leases |  | Finance Leases
2026 (remainder of the year) | $ | 48,733 |  |  | $ | 6,592 |
2027 | 86,930 |  |  | 12,855 |
2028 | 71,888 |  |  | 10,972 |
2029 | 60,086 |  |  | 8,621 |
2030 | 47,379 |  |  | 8,752 |
2031 | 25,437 |  |  | 8,915 |
Thereafter | 62,071 |  |  | 170,750 |
Total minimum lease payments | 402,524 |  |  | 227,457 |
Less: Interest | (107,285) |  |  | (119,727) |
Present value of lease obligations | 295,239 |  |  | 107,730 |
Less: Current portion | (67,198) |  |  | (5,045) |
Long-term portion of lease obligations | $ | 228,041 |  |  | $ | 102,685 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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