v3.25.2
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 120,225 $ 74,292
Restricted cash 31,830 14,070
Loan commitment assets - related party 0 21,731
Accounts receivable, net 3,250 3,038
Inventory 41,128 32,826
Vendor deposits 11,197 17,419
Contract assets, current 14,601 13,096
Prepaid expenses 2,005 938
Grant receivable, net 6,589 2,283
Other current assets 1,452 219
Total current assets 232,277 179,912
Property, plant and equipment, net 75,533 45,660
Intangible assets, net 192 240
Goodwill 4,331 4,331
Operating lease right-of-use asset, net 2,624 2,909
Long-term restricted cash 31,120 15,000
Other assets, net 14,918 12,266
Total assets 360,995 260,318
Current liabilities:    
Accounts payable 39,728 16,723
Accrued expenses 23,647 22,032
Operating lease liability, current 2,195 1,879
Long-term debt, current 1,073 2,014
Contract liabilities, current 37,438 22,039
Other current liabilities 171 288
Total current liabilities 104,252 64,975
Long-term liabilities:    
Operating lease liability 871 1,628
Long-term debt 307,274 65,823
Notes payable - related party 136,930 249,059
Contract liabilities, long-term 2,099 4,310
Other liabilities 190 69
Total long-term liabilities 827,441 777,110
Total liabilities 931,693 842,085
COMMITMENTS AND CONTINGENCIES (NOTE 16)
SHAREHOLDERS' DEFICIT    
Common stock, $0.0001 par value, 600,000,000 shares authorized, 256,476,521 and 221,791,205 shares outstanding on June 30, 2025 and December 31, 2024, respectively 25 23
Additional paid in capital 720,680 534,726
Accumulated deficit (1,773,973) (1,561,716)
Total shareholders' deficit (1,102,967) (1,070,463)
Total liabilities, preferred stock and shareholders' deficit 360,995 260,318
Series B Preferred Stock    
Long-term liabilities:    
SERIES B PREFERRED STOCK (NOTE 3) - related party 532,269 488,696
Nonrelated Party    
Long-term liabilities:    
Warrants liability 181,093 189,591
SHAREHOLDERS' DEFICIT    
Accumulated other comprehensive income (loss) 15 (6)
Related Party    
Current liabilities:    
Accounts payable 267  
Long-term liabilities:    
Warrants liability 198,984 266,630
SHAREHOLDERS' DEFICIT    
Accumulated other comprehensive income (loss) $ (49,714) $ (43,490)