v3.25.2
Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Deficit (Unaudited) - USD ($)
$ in Thousands
Total
Redeemable Convertible Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Temporary equity, beginning balance at Dec. 31, 2023   $ 230,935        
Temporary equity, beginning balance, shares at Dec. 31, 2023   22,941,170        
Beginning balance at Dec. 31, 2023 $ (123,126)   $ 3 $ 4,824 $ (127,974) $ 21
Beginning balance, shares at Dec. 31, 2023     2,992,479      
Exercise of stock options, net of tax withholding 12     12    
Exercise of stock options, net of tax withholding, shares     3,563      
Stock-based compensation expense 643     643    
Unrealized gain (loss) on available-for-sale securities, net of tax (42)         (42)
Net loss (10,894)       (10,894)  
Temporary equity, ending balance at Mar. 31, 2024   $ 230,935        
Temporary equity, ending balance, shares at Mar. 31, 2024   22,941,170        
Ending balance at Mar. 31, 2024 (133,407)   $ 3 5,479 (138,868) (21)
Ending balance, shares at Mar. 31, 2024     2,996,042      
Temporary equity, beginning balance at Dec. 31, 2023   $ 230,935        
Temporary equity, beginning balance, shares at Dec. 31, 2023   22,941,170        
Beginning balance at Dec. 31, 2023 (123,126)   $ 3 4,824 (127,974) 21
Beginning balance, shares at Dec. 31, 2023     2,992,479      
Unrealized gain (loss) on available-for-sale securities, net of tax (76)          
Net loss (25,572)          
Temporary equity, ending balance at Jun. 30, 2024   $ 380,874        
Temporary equity, ending balance, shares at Jun. 30, 2024   31,764,693        
Ending balance at Jun. 30, 2024 (146,607)   $ 3 6,991 (153,546) (55)
Ending balance, shares at Jun. 30, 2024     3,020,546      
Temporary equity, beginning balance at Mar. 31, 2024   $ 230,935        
Temporary equity, beginning balance, shares at Mar. 31, 2024   22,941,170        
Beginning balance at Mar. 31, 2024 (133,407)   $ 3 5,479 (138,868) (21)
Beginning balance, shares at Mar. 31, 2024     2,996,042      
Issuance of Series B redeemable convertible preferred stock in connection with the settlement of the tranche right liability, net of issuance costs   $ 149,939        
Issuance of Series B redeemable convertible preferred stock in connection with the settlement of the tranche right liability, net of issuance costs, shares   8,823,523        
Exercise of stock options, net of tax withholding 100     100    
Exercise of stock options, net of tax withholding, shares     24,504      
Stock-based compensation expense 1,412     1,412    
Unrealized gain (loss) on available-for-sale securities, net of tax (34)         (34)
Net loss (14,678)       (14,678)  
Temporary equity, ending balance at Jun. 30, 2024   $ 380,874        
Temporary equity, ending balance, shares at Jun. 30, 2024   31,764,693        
Ending balance at Jun. 30, 2024 (146,607)   $ 3 6,991 (153,546) (55)
Ending balance, shares at Jun. 30, 2024     3,020,546      
Beginning balance at Dec. 31, 2024 469,852   $ 53 660,604 (190,780) (25)
Beginning balance, shares at Dec. 31, 2024     53,603,398      
Exercise of stock options, net of tax withholding, shares     37,497      
Stock-based compensation expense 2,635     2,635    
Unrealized gain (loss) on available-for-sale securities, net of tax 393         393
Net loss (27,270)       (27,270)  
Ending balance at Mar. 31, 2025 445,610   $ 53 663,239 (218,050) 368
Ending balance, shares at Mar. 31, 2025     53,640,895      
Beginning balance at Dec. 31, 2024 469,852   $ 53 660,604 (190,780) (25)
Beginning balance, shares at Dec. 31, 2024     53,603,398      
Unrealized gain (loss) on available-for-sale securities, net of tax 283          
Net loss (67,236)          
Ending balance at Jun. 30, 2025 408,743   $ 54 666,447 (258,016) 258
Ending balance, shares at Jun. 30, 2025     53,798,151      
Beginning balance at Mar. 31, 2025 445,610   $ 53 663,239 (218,050) 368
Beginning balance, shares at Mar. 31, 2025     53,640,895      
Exercise of stock options, net of tax withholding 612   $ 1 611    
Exercise of stock options, net of tax withholding, shares     157,256      
Stock-based compensation expense 2,597     2,597    
Unrealized gain (loss) on available-for-sale securities, net of tax (110)         (110)
Net loss (39,966)       (39,966)  
Ending balance at Jun. 30, 2025 $ 408,743   $ 54 $ 666,447 $ (258,016) $ 258
Ending balance, shares at Jun. 30, 2025     53,798,151