Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 80,871	$ 76,247
Marketable securities	858,066	817,463
Accounts receivable, net	4,986	4,109
Inventory	30,848	27,616
Prepaid expenses and other current assets	44,693	40,165
Total current assets	1,019,464	965,600
Marketable securities	400,467	638,321
Operating lease assets	36,785	42,879
Property and equipment, net	10,579	11,675
Other non-current assets	3,942	4,724
Total assets	1,471,237	1,663,199
Current liabilities:
Accounts payable	17,532	16,643
Accrued expenses	35,289	46,861
Income taxes payable	0	871
Operating lease liabilities	17,589	16,781
Total current liabilities	70,410	81,156
Operating lease liabilities, net of current portion	31,171	40,207
Other non-current liabilities	101	880
Total liabilities	101,682	122,243
Stockholders’ equity:
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at June 30, 2025 and December 31, 2024	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized; 74,254,956 shares issued and 58,038,545 shares outstanding at June 30, 2025, and 73,372,696 shares issued and 57,156,285 shares outstanding at December 31, 2024	74	73
Additional paid-in capital	2,521,545	2,493,811
Accumulated other comprehensive income (loss)	655	(1,518)
Treasury stock, at cost (16,216,411 shares at June 30, 2025 and December 31, 2024)	(802,486)	(802,486)
Accumulated deficit	(350,233)	(148,924)
Total stockholders’ equity	1,369,555	1,540,956
Total liabilities and stockholders’ equity	$ 1,471,237	$ 1,663,199

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).