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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 265,772 $ 120,863
Short-term investments 189,404 66,712
Accounts receivable, net 16,637 13,431
Inventory 18,594 19,981
Prepaid expenses and other current assets 6,046 4,871
Contingent consideration receivable 25,000 0
Current assets held for sale 0 228,406
Total current assets 521,453 454,264
Property and equipment, net 17,103 19,275
Operating lease right-of-use asset, net 25,545 26,732
Other non-current assets 3,386 3,154
Long-term investments 71,357 25,701
Deferred tax asset, non-current 270 38,628
Total assets 639,114 567,754
Current liabilities:    
Accounts payable 8,007 5,407
Accrued liabilities 15,684 29,783
Operating lease liabilities, current 5,540 5,490
Deferred revenue, current 9,981 38,949
Deferred grant income, current 2,991 3,046
Current liabilities held for sale 0 25,633
Total current liabilities 42,203 108,308
Convertible notes, non-current 299 299
Deferred tax liability 823 810
Operating lease liabilities, non-current 23,652 25,038
Deferred revenue, non-current 3,013 3,503
Deferred grant income, non-current 3,557 4,290
Other non-current liabilities 4,444 1,215
Total liabilities 77,991 143,463
Commitments and contingencies (Note 8)
Stockholders' equity (deficit):    
Preferred stock: $0.001 par value, 10,000 shares authorized at March 31, 2026 and December 31, 2025, respectively; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock: $0.001 par value, 600,000 shares authorized at March 31, 2026 and December 31, 2025; 408,722 and 404,961 shares issued at March 31, 2026 and December 31, 2025, respectively; 390,141 and 386,381 shares outstanding at March 31, 2026 and December 31, 2025, respectively 408 404
Additional paid-in capital 1,741,172 1,732,393
Accumulated other comprehensive income (loss) (511) (1,492)
Accumulated deficit (1,133,479) (1,260,547)
Treasury stock at cost: 18,580 shares at March 31, 2026 and December 31, 2025 (46,467) (46,467)
Total stockholders' equity 561,123 424,291
Total liabilities and stockholders' equity $ 639,114 $ 567,754