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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 156,694 $ 15,683
Debt securities available for sale 13,631 0
Restricted cash - current 1,984 16,656
Accounts receivable, net 2,007 0
Inventory 9,370 8,087
Prepaid expenses and other current assets 14,331 13,473
Total current assets 198,017 53,899
Restricted cash - noncurrent 9,356 9,172
Operating lease right-of-use assets 54,226 56,833
Property, plant and equipment, net 657,752 674,079
Prepaid expenses and other noncurrent assets 3,315 4,402
TOTAL ASSETS 922,666 798,385
CURRENT LIABILITIES    
Accounts payable 9,247 6,596
Accrued expenses and other current liabilities 42,815 43,259
Accrued interest 7,805 7,626
Current portion of warrant liability 13,682 10,109
Total current liabilities 87,565 90,877
NONCURRENT LIABILITIES    
Deferred revenue 5,000 5,000
Warrant liability, less current portion 45,149 120,090
Operating lease right-of-use liabilities 52,350 54,665
Series A Preferred Stock liability 29,606 18,433
Other noncurrent liabilities 2,710 5,514
TOTAL LIABILITIES 572,078 617,936
COMMITMENTS AND CONTINGENCIES (NOTE 13)
MEZZANINE EQUITY    
Series B Convertible Perpetual Preferred Stock - $0.001 par value, 300 and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 304,701 0
STOCKHOLDERS' EQUITY    
Common Stock - $0.001 par value, 450,000 shares authorized; 180,281 and 173,566 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 180 174
Additional paid-in capital 861,953 813,573
Accumulated other comprehensive (loss)/income (305) 78
Accumulated deficit (815,941) (633,376)
TOTAL STOCKHOLDERS' EQUITY 45,887 180,449
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY 922,666 798,385
Long-term debt    
CURRENT LIABILITIES    
Current portion of long-term debt 6,446 12,932
NONCURRENT LIABILITIES    
Long-term debt, less current portion 263,355 256,886
Related Party    
CURRENT LIABILITIES    
Current portion of long-term debt 7,570 10,355
NONCURRENT LIABILITIES    
Long-term debt, less current portion $ 86,343 $ 66,471