CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS EQUITY (DEFICIT) Unaudited - USD ($)
$ in Thousands |
Total |
IPO [Member] |
Common Stock |
Common Stock
IPO [Member]
|
Additional Paid-in Capital |
Additional Paid-in Capital
IPO [Member]
|
Accumulated Other Comprehensive (Income) Loss |
Accumulated Deficit |
Redeemable Convertible Preferred Stock |
Redeemable Convertible Preferred Stock
IPO [Member]
|
| Temporary Equity, Beginning Balance (Shares) at Dec. 31, 2023 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Beginning Balance at Dec. 31, 2023 |
|
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Beginning Balance (Shares) at Dec. 31, 2023 |
|
|
|
15,956,516
|
|
|
|
|
|
|
|
| Beginning Balance at Dec. 31, 2023 |
|
$ (423,994)
|
|
|
|
$ 86,748
|
|
$ 60
|
$ (510,802)
|
|
|
| Issuance of common stock upon exercise of options (Shares) |
|
|
|
36,122
|
|
|
|
|
|
|
|
| Issuance of common stock upon exercise of options |
|
61
|
|
|
|
61
|
|
|
|
|
|
| Stock-based compensation |
|
304
|
|
|
|
304
|
|
|
|
|
|
| Unrealized loss on marketable securities |
|
(105)
|
|
|
|
|
|
(105)
|
|
|
|
| Net income (loss) |
|
(26,464)
|
|
|
|
|
|
|
(26,464)
|
|
|
| Temporary Equity, Ending Balance (Shares) at Mar. 31, 2024 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Ending Balance at Mar. 31, 2024 |
|
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Ending Balance (Shares) at Mar. 31, 2024 |
|
|
|
15,992,638
|
|
|
|
|
|
|
|
| Ending Balance at Mar. 31, 2024 |
|
(450,198)
|
|
|
|
87,113
|
|
(45)
|
(537,266)
|
|
|
| Temporary Equity, Beginning Balance (Shares) at Dec. 31, 2023 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Beginning Balance at Dec. 31, 2023 |
|
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Beginning Balance (Shares) at Dec. 31, 2023 |
|
|
|
15,956,516
|
|
|
|
|
|
|
|
| Beginning Balance at Dec. 31, 2023 |
|
(423,994)
|
|
|
|
86,748
|
|
60
|
(510,802)
|
|
|
| Adjustment to reflect deemed contribution from Series and Series E redeemable convertible preferred stock extinguishment |
[1] |
0
|
|
|
|
|
|
|
|
|
|
| Unrealized loss on marketable securities |
|
(116)
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
(39,390)
|
|
|
|
|
|
|
|
|
|
| Temporary Equity, Ending Balance (Shares) at Jun. 30, 2024 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Ending Balance at Jun. 30, 2024 |
|
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Ending Balance (Shares) at Jun. 30, 2024 |
|
|
|
16,164,963
|
|
|
|
|
|
|
|
| Ending Balance at Jun. 30, 2024 |
|
(462,610)
|
|
|
|
87,638
|
|
(56)
|
(550,192)
|
|
|
| Temporary Equity, Beginning Balance (Shares) at Mar. 31, 2024 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Beginning Balance at Mar. 31, 2024 |
|
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Beginning Balance (Shares) at Mar. 31, 2024 |
|
|
|
15,992,638
|
|
|
|
|
|
|
|
| Beginning Balance at Mar. 31, 2024 |
|
(450,198)
|
|
|
|
87,113
|
|
(45)
|
(537,266)
|
|
|
| Issuance of common stock upon exercise of options (Shares) |
|
|
|
172,325
|
|
|
|
|
|
|
|
| Issuance of common stock upon exercise of options |
|
219
|
|
|
|
219
|
|
|
|
|
|
| Adjustment to reflect deemed contribution from Series and Series E redeemable convertible preferred stock extinguishment |
[1] |
0
|
|
|
|
|
|
|
|
|
|
| Stock-based compensation |
|
306
|
|
|
|
306
|
|
|
|
|
|
| Unrealized loss on marketable securities |
|
(11)
|
|
|
|
|
|
(11)
|
|
|
|
| Net income (loss) |
|
(12,926)
|
|
|
|
|
|
|
(12,926)
|
|
|
| Temporary Equity, Ending Balance (Shares) at Jun. 30, 2024 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Ending Balance at Jun. 30, 2024 |
|
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Ending Balance (Shares) at Jun. 30, 2024 |
|
|
|
16,164,963
|
|
|
|
|
|
|
|
| Ending Balance at Jun. 30, 2024 |
|
$ (462,610)
|
|
|
|
87,638
|
|
(56)
|
(550,192)
|
|
|
| Temporary Equity, Beginning Balance (Shares) at Dec. 31, 2024 |
|
48,150,146
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Beginning Balance at Dec. 31, 2024 |
|
$ 851,272
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Beginning Balance (Shares) at Dec. 31, 2024 |
|
|
|
16,379,906
|
|
|
|
|
|
|
|
| Beginning Balance at Dec. 31, 2024 |
|
(434,570)
|
|
|
|
88,097
|
|
68
|
(522,735)
|
|
|
| Issuance of common stock upon exercise of options (Shares) |
|
|
|
65,750
|
|
|
|
|
|
|
|
| Issuance of common stock upon exercise of options |
|
97
|
|
|
|
97
|
|
|
|
|
|
| Proceeds From Repayment Of Recourse Loans For Settlement Of Restricted Stock Awards |
|
4,935
|
|
|
|
4,935
|
|
|
|
|
|
| Adjustment to reflect deemed contribution from Series and Series E redeemable convertible preferred stock extinguishment |
|
|
|
|
|
|
|
|
|
$ (104,174)
|
|
| Adjustment to reflect deemed contribution from Series and Series E redeemable convertible preferred stock extinguishment |
|
104,174
|
|
|
|
104,174
|
|
|
|
|
|
| Stock-based compensation |
|
7
|
|
|
|
7
|
|
|
|
|
|
| Unrealized loss on marketable securities |
|
(58)
|
|
|
|
|
|
(58)
|
|
|
|
| Net income (loss) |
|
17,139
|
|
|
|
|
|
|
17,139
|
|
|
| Temporary Equity, Ending Balance (Shares) at Mar. 31, 2025 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Ending Balance at Mar. 31, 2025 |
|
|
|
|
|
|
|
|
|
$ 747,098
|
|
| Ending Balance (Shares) at Mar. 31, 2025 |
|
|
|
16,445,656
|
|
|
|
|
|
|
|
| Ending Balance at Mar. 31, 2025 |
|
$ (308,276)
|
|
|
|
197,310
|
|
10
|
(505,596)
|
|
|
| Temporary Equity, Beginning Balance (Shares) at Dec. 31, 2024 |
|
48,150,146
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Beginning Balance at Dec. 31, 2024 |
|
$ 851,272
|
|
|
|
|
|
|
|
$ 851,272
|
|
| Beginning Balance (Shares) at Dec. 31, 2024 |
|
|
|
16,379,906
|
|
|
|
|
|
|
|
| Beginning Balance at Dec. 31, 2024 |
|
(434,570)
|
|
|
|
88,097
|
|
68
|
(522,735)
|
|
|
| Adjustment to reflect deemed contribution from Series and Series E redeemable convertible preferred stock extinguishment |
[1] |
(104,174)
|
|
|
|
|
|
|
|
|
|
| Unrealized loss on marketable securities |
|
(102)
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ (558,512)
|
|
|
|
|
|
|
|
|
|
| Temporary Equity, Ending Balance (Shares) at Jun. 30, 2025 |
|
2,581,837
|
|
|
|
|
|
|
|
2,581,837
|
|
| Temporary Equity, Ending Balance at Jun. 30, 2025 |
|
$ 199,874
|
|
|
|
|
|
|
|
$ 199,874
|
|
| Ending Balance (Shares) at Jun. 30, 2025 |
|
|
|
78,126,018
|
|
|
|
|
|
|
|
| Ending Balance at Jun. 30, 2025 |
|
173,778
|
|
|
|
1,255,059
|
|
(34)
|
(1,081,247)
|
|
|
| Temporary Equity, Beginning Balance (Shares) at Mar. 31, 2025 |
|
|
|
|
|
|
|
|
|
48,150,146
|
|
| Temporary Equity, Beginning Balance at Mar. 31, 2025 |
|
|
|
|
|
|
|
|
|
$ 747,098
|
|
| Beginning Balance (Shares) at Mar. 31, 2025 |
|
|
|
16,445,656
|
|
|
|
|
|
|
|
| Beginning Balance at Mar. 31, 2025 |
|
(308,276)
|
|
|
|
197,310
|
|
10
|
(505,596)
|
|
|
| Issuance of common stock upon exercise of options (Shares) |
|
|
|
120,657
|
|
|
|
|
|
|
|
| Issuance of common stock upon exercise of options |
|
159
|
|
|
|
159
|
|
|
|
|
|
| Adjustment to reflect deemed contribution from Series and Series E redeemable convertible preferred stock extinguishment |
[1] |
0
|
|
|
|
|
|
|
|
|
|
| Temporary Equity, Settlement of repurchase agreement (Shares) |
|
|
|
|
|
|
|
|
|
(4,983,533)
|
|
| Temporary Equity, Settlement of repurchase agreement |
|
|
|
|
|
|
|
|
|
$ (200,694)
|
|
| Settlement of repurchase agreement (Shares) |
|
|
|
4,150,200
|
|
|
|
|
|
|
|
| Settlement of repurchase agreement |
|
150,694
|
|
|
|
150,694
|
|
|
|
|
|
| Temporary Equity, Conversion of redeemable convertible preferred stock to Class B common stock in connection with initial public offering (Shares) |
|
|
|
|
|
|
|
|
|
|
(40,584,776)
|
| Temporary Equity, Conversion of redeemable convertible preferred stock to Class B common stock in connection with initial public offering |
|
|
|
|
|
|
|
|
|
|
$ (346,530)
|
| Conversion of redeemable convertible preferred stock to Class B common stock in connection with initial public offering (Shares) |
|
|
|
|
40,584,776
|
|
|
|
|
|
|
| Conversion of redeemable convertible preferred stock to Class B common stock in connection with initial public offering |
|
|
$ 346,530
|
|
|
|
$ 346,530
|
|
|
|
|
| Issuance of Class A common stock pursuant to the initial public offering, net of issuance and offering costs (Shares) |
|
|
|
|
8,522,528
|
|
|
|
|
|
|
| Issuance of Class A common stock pursuant to the initial public offering, net of issuance and offering costs |
|
|
$ 241,641
|
|
|
|
$ 241,641
|
|
|
|
|
| Issuance of common stock upon settlement of restricted stock units and performance-based restricted stock units (Shares) |
|
|
|
16,815,445
|
|
|
|
|
|
|
|
| Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (Shares) |
|
|
|
(8,513,244)
|
|
|
|
|
|
|
|
| Tax withholdings on settlement of restricted stock units and performance-based restricted stock units |
|
(272,258)
|
|
|
|
(272,258)
|
|
|
|
|
|
| Stock-based compensation |
|
590,983
|
|
|
|
590,983
|
|
|
|
|
|
| Unrealized loss on marketable securities |
|
(44)
|
|
|
|
|
|
(44)
|
|
|
|
| Net income (loss) |
|
$ (575,651)
|
|
|
|
|
|
|
(575,651)
|
|
|
| Temporary Equity, Ending Balance (Shares) at Jun. 30, 2025 |
|
2,581,837
|
|
|
|
|
|
|
|
2,581,837
|
|
| Temporary Equity, Ending Balance at Jun. 30, 2025 |
|
$ 199,874
|
|
|
|
|
|
|
|
$ 199,874
|
|
| Ending Balance (Shares) at Jun. 30, 2025 |
|
|
|
78,126,018
|
|
|
|
|
|
|
|
| Ending Balance at Jun. 30, 2025 |
|
$ 173,778
|
|
|
|
$ 1,255,059
|
|
$ (34)
|
$ (1,081,247)
|
|
|
|
|