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Segment and Geographical Information (Tables)
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

The following table includes the significant expense categories and amounts that are regularly provided to the CODM:

 

 

For the Three Months Ended March 31,

 

 

 

2026

 

 

2025
(Recast)

 

Revenue

 

$

80,879

 

 

$

55,855

 

Less:

 

 

 

 

 

 

Stock-based compensation expense

 

 

(12,512

)

 

 

(431

)

Depreciation and amortization(1)

 

 

(11,453

)

 

 

(3,996

)

Amortization of acquired intangibles

 

 

(5,000

)

 

 

 

Cost of sales(2)

 

 

(61,625

)

 

 

(52,651

)

Research and development(3)

 

 

(57,037

)

 

 

(44,936

)

Selling, general, and administrative(4)

 

 

(26,934

)

 

 

(9,932

)

Interest income

 

 

5,974

 

 

 

1,028

 

Interest expense

 

 

(3,682

)

 

 

(6,192

)

Change in fair value of warrant liability

 

 

(3,684

)

 

 

3,073

 

One-time costs related to the IPO(6)

 

 

 

 

 

(2,453

)

Transaction-related expenses

 

 

(1,909

)

 

 

 

Gain on settlement of contingent liabilities

 

 

381

 

 

 

 

Provision for income taxes

 

 

(67

)

 

 

 

Other (expense) income, net(5)

 

 

(7

)

 

 

542

 

Consolidated net loss

 

$

(96,676

)

 

$

(60,093

)

(1) Depreciation and amortization excludes the amortization of acquired intangibles, which is presented separately.

(2) Cost of sales excludes depreciation and amortization, and interest expense, which are presented separately.

(3) Research and development excludes depreciation and amortization, and stock-based compensation expense, which are presented separately.

(4) Selling, general, and administrative excludes depreciation and amortization, amortization of acquired intangibles, stock-based compensation expense, one-time costs related to the IPO, and transaction-related expenses, which are presented separately.

(5) Other (expense) income, net, excludes interest income, interest expense, change in fair value of warrant liability, and gain on settlement of contingent liabilities, which are presented separately.

(6) Represents costs incurred related to the IPO that do not meet the direct and incremental criteria per SEC Staff Accounting Bulletin Topic 5.A to be netted against the gross proceeds of the offering and that are not expected to recur in the future.