v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 247,970 $ 35,723
Accounts receivable, net of allowance for credit loss of $nil 2,693 12,722
Inventory 552 0
Prepaid expenses and other current assets 8,257 7,271
Marketable securities 359,752 466,969
Interest receivable on marketable securities 3,984 3,570
Total current assets 623,208 526,255
Property and equipment, net of accumulated depreciation of $1,042 and $874, respectively 615 586
Intangible assets, net of accumulated amortization of $925 and $448, respectively 12,145 4,622
Operating lease right-of-use assets 4,641 2,402
Other non-current assets 6,616 6,761
Total assets 647,225 540,626
Current liabilities:    
Accounts payable 22,419 6,348
Current operating lease liabilities 1,808 1,663
Contract liabilities, current portion 9,725 11,117
Liability related to revenue interest financing agreement 2,823 0
Short-term borrowings 5,583 6,283
Accrued expenses 23,998 32,833
Total current liabilities 66,356 58,244
Warrant liability 2,350 2,053
Contract liabilities, net of current portion 12,459 15,572
Non-current operating lease liabilities 3,399 969
Non-current liability related to revenue interest financing agreement, net of current portion and deferred financing costs of $4,662 and $0 as of June 30, 2025 and December 31, 2024 142,780 0
Long-term borrowings, net of current portion and deferred financing costs of $3,276 and $0 as of June 30, 2025 and December 31, 2024 46,974 0
Total liabilities 274,318 76,838
Commitments and contingencies (Note 11)
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, 2025 and December 31, 2024 respectively, 342,233,563 (Class A 341,233,563, Class B 1,000,000) and 337,837,872 (Class A 336,837,872, Class B 1,000,000) shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 1,396,220 1,373,958
Accumulated deficit (1,022,986) (910,743)
Accumulated other comprehensive (loss) income (327) 573
Total stockholders' equity 372,907 463,788
Total liabilities and stockholders' equity $ 647,225 $ 540,626