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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 258,604 $ 164,086
Accounts receivable, net of allowance for credit loss of $nil and $nil 27,826 16,076
Inventory 19,901 11,411
Prepaid expenses and other current assets 13,861 11,536
Marketable securities 402,352 365,125
Interest receivable on marketable securities 3,888 3,285
Total current assets 726,432 571,519
Property and equipment, net of accumulated depreciation of $1,331 and $1,184, respectively 715 564
Intangible assets, net of accumulated amortization of $2,777 and $1,856, respectively 10,292 11,214
Operating lease right-of-use assets 3,240 3,918
Other non-current assets 3,824 7,607
Total assets 744,503 594,822
Current liabilities:    
Accounts payable 12,089 9,479
Current operating lease liabilities 1,715 1,880
Contract liabilities, current portion 8,855 7,515
Liability related to revenue interest financing agreement, current portion 12,999 9,585
Short-term borrowings 5,893 5,724
Warrant liability 0 2,865
Accrued expenses 45,204 45,183
Total current liabilities 86,755 82,231
Contract liabilities, net of current portion 8,228 11,305
Non-current operating lease liabilities 1,910 2,543
Non-current liability related to revenue interest financing agreement, net of deferred financing costs of $3,818 and $4,241, respectively 151,122 145,819
Long-term borrowings, net of deferred financing costs of $3,042 0 47,208
Convertible debt, net of deferred financing costs of $7,376 242,624 0
Total liabilities 490,639 289,106
Commitments and contingencies (Note 10)
Stockholders' equity    
Class A and Class B common stock and additional paid in capital, $0.0001 par value per share; 1,060,000,000 (Class A 1,000,000,000, Class B 60,000,000 shares authorized as of June 30, 2026 and December 31, 2025 respectively 349,822,479 (Class A 348,822,479, Class B 1,000,000) and 346,503,675 (Class A 345,503,675, Class B 1,00,000) shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. 1,429,288 1,421,273
Accumulated deficit (1,172,813) (1,115,370)
Accumulated other comprehensive loss (2,611) (187)
Total stockholders' equity 253,864 305,716
Total liabilities and stockholders' equity $ 744,503 $ 594,822