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Condensed Consolidated Statements of Net Loss and Comprehensive Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue $ 30,778 $ 22,370 $ 102,182 $ 51,758
Cost of sales 22,288 14,599 87,477 42,959
Gross profit 8,490 7,771 14,705 8,799
Operating expenses        
Research and development 48,763 29,858 142,549 107,037
Selling, general and administrative 21,920 10,305 47,243 32,173
Loss on disposal of fixed assets 0 1,802 0 1,824
Total operating expenses 70,683 41,965 189,792 141,034
Loss from operations (62,193) (34,194) (175,087) (132,235)
Other expense        
Change in fair value of warrant liability (42,150) (341) (47,257) (372)
Loss on extinguishment of debt (30,400) 0 (30,400) 0
Interest income (expense), net 1,334 (6,658) (9,067) (14,149)
Other (expense) income, net (3) 403 4,528 (258)
Total other expense, net (71,219) (6,596) (82,196) (14,779)
Loss before provision for income taxes (133,412) (40,790) (257,283) (147,014)
Provision for income taxes 0 0 0 0
Net loss and comprehensive loss (133,412) (40,790) (257,283) (147,014)
Net loss attributable to common shareholders, basic (140,362) (46,144) (292,906) (162,883)
Net loss available to common stockholders, diluted $ (140,362) $ (46,144) $ (292,906) $ (162,883)
Net loss per common share        
Basic $ (1.5) $ (3.57) $ (7.25) $ (12.8)
Diluted $ (1.5) $ (3.57) $ (7.25) $ (12.8)
Weighted-average common shares outstanding        
Basic 93,849 12,924 40,389 12,728
Diluted 93,849 12,924 40,389 12,728
Series C Preferred Stock        
Other expense        
Less: Accretion of dividends $ 2,298 $ 5,354 $ 13,240 $ 15,869
Series D-1 Preferred Stock        
Other expense        
Less: Accretion of dividends 4,524 0 21,989 0
Series D-3 Preferred Stock        
Other expense        
Less: Accretion of dividends $ 128 $ 0 $ 394 $ 0