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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 254,475 $ 428,446
Accounts receivable, less allowance for credit losses of $6,374 and $5,940, respectively 90,908 72,486
Prepaid expenses and other current assets 81,598 40,786
Total current assets 426,981 541,718
Noncurrent assets:    
Property and equipment, net 589,094 432,544
Restricted cash 158 1,747
Goodwill 348,674 348,674
Intangible assets, net 99,504 117,718
Operating lease right-of-use assets, net 270,854 187,877
Deferred tax assets 90,310 200
Other assets 12,130 8,537
Total assets 1,837,705 1,639,015
Current liabilities:    
Accounts payable 38,836 54,565
Accrued other expenses 42,679 38,156
Deferred revenue 5,882 5,397
Debt, current 325,109 0
Operating lease liabilities, current 108,037 75,785
Finance lease liabilities and equipment financing obligations, current 31,411 3,550
Other current liabilities 67,510 43,502
Total current liabilities 619,464 220,955
Noncurrent liabilities:    
Deferred tax liabilities 4,092 4,123
Debt, long-term 970,653 1,485,366
Operating lease liabilities, long-term 166,895 130,431
Finance lease liabilities and equipment financing obligations, long-term 99,103 1,095
Other non-current liabilities 6,188 0
Total liabilities 1,866,395 1,841,970
Commitments and Contingencies (Note 10)
Preferred stock ($0.000025 par value per share; 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2025 and 2024) 0 0
Common stock ($0.000025 par value per share; 750,000,000 shares authorized; 91,947,614 and 92,234,517 issued and outstanding as of December 31, 2025 and 2024, respectively) 2 2
Additional paid-in capital 16,005 57,282
Accumulated other comprehensive loss (960) (1,497)
Accumulated deficit (43,737) (258,742)
Total stockholders’ deficit (28,690) (202,955)
Total liabilities and stockholders’ deficit $ 1,837,705 $ 1,639,015