v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) / PARENT NET INVESTMENT - USD ($)
$ in Thousands
Total
Prior to Business Combination
Redeemable shares reclassified to Common Stock
Common Stock
Common Stock
Prior to Business Combination
Common Stock
Redeemable shares reclassified to Common Stock
Additional Paid-In Capital
Additional Paid-In Capital
Prior to Business Combination
Additional Paid-In Capital
Redeemable shares reclassified to Common Stock
Accumulated Deficit
Accumulated Deficit
Prior to Business Combination
Accumulated Deficit
Redeemable shares reclassified to Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net loss $ (11,789)                      
Beginning balance at Dec. 31, 2023 339,021                      
Parent Net Investment [Roll Forward]                        
Contributions from parent 22,474                      
Net loss (11,789)                      
Ending balance at Feb. 13, 2024 349,706                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net loss $ (345,541)                      
Issuance of merger consideration shares (in shares) 3,000,000                      
Issuance of merger consideration shares $ 36,300                      
Ending balance (in shares) at Jun. 30, 2024       64,845,435                
Ending balance at Jun. 30, 2024 122,047     $ 6     $ 548,600     $ (426,559)    
Parent Net Investment [Roll Forward]                        
Net loss (345,541)                      
Beginning balance (in shares) at Feb. 14, 2024       13,141,359 7,187,500 5,953,859            
Beginning balance at Feb. 14, 2024 (19,068) $ (81,017) $ 61,949 $ 2 $ 1 $ 1 61,948 $ 0 $ 61,948 (81,018) $ (81,018) $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of Common Stock (in shares)       44,024,910                
Issuance of Common Stock 417,371     $ 4     417,367          
Share-based compensation (in shares)       2,758,334                
Shared based compensation 10,080           10,080          
Net loss $ (180,105)                 (180,105)    
Issuance of merger consideration shares (in shares) 3,000,000                      
Issuance of merger consideration shares $ 36,300                      
Ending balance (in shares) at Mar. 31, 2024       62,924,603                
Ending balance at Mar. 31, 2024 264,578     $ 6     525,695     (261,123)    
Parent Net Investment [Roll Forward]                        
Net loss (180,105)                 (180,105)    
Share-based compensation (in shares)       1,920,832                
Shared based compensation 22,905           22,905          
Net loss (165,436)                 (165,436)    
Ending balance (in shares) at Jun. 30, 2024       64,845,435                
Ending balance at Jun. 30, 2024 122,047     $ 6     548,600     (426,559)    
Parent Net Investment [Roll Forward]                        
Net loss $ (165,436)                 (165,436)    
Beginning balance (in shares) at Dec. 31, 2024 89,310,996       89,310,996              
Beginning balance at Dec. 31, 2024 $ 384,185 384,185     $ 8     1,082,473     (698,296)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Share-based compensation (in shares)       27,362                
Shared based compensation 6,065           6,065          
Net loss (109,544)                 (109,544)    
Ending balance (in shares) at Mar. 31, 2025       89,338,358                
Ending balance at Mar. 31, 2025 280,706     $ 8     1,088,538     (807,840)    
Parent Net Investment [Roll Forward]                        
Net loss $ (109,544)                 (109,544)    
Beginning balance (in shares) at Dec. 31, 2024 89,310,996       89,310,996              
Beginning balance at Dec. 31, 2024 $ 384,185 $ 384,185     $ 8     $ 1,082,473     $ (698,296)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of Common Stock             282,600          
Net loss $ (237,610)                      
Ending balance (in shares) at Jun. 30, 2025 99,482,250     99,482,250                
Ending balance at Jun. 30, 2025 $ 445,627     $ 10     1,381,523     (935,906)    
Parent Net Investment [Roll Forward]                        
Net loss (237,610)                      
Beginning balance (in shares) at Mar. 31, 2025       89,338,358                
Beginning balance at Mar. 31, 2025 280,706     $ 8     1,088,538     (807,840)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of Common Stock (in shares)       10,000,000                
Issuance of Common Stock 282,560     $ 1     282,559          
Share-based compensation (in shares)       143,892                
Shared based compensation 10,427     $ 1     10,426          
Net loss $ (128,066)                 (128,066)    
Ending balance (in shares) at Jun. 30, 2025 99,482,250     99,482,250                
Ending balance at Jun. 30, 2025 $ 445,627     $ 10     $ 1,381,523     (935,906)    
Parent Net Investment [Roll Forward]                        
Net loss $ (128,066)                 $ (128,066)