v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 115,752 $ 145,691
Marketable securities 827,351 972,611
Prepaid expenses and other current assets 13,842 14,146
Total current assets 956,945 1,132,448
Other assets 22,965 9,304
Total assets 979,910 1,141,752
Current liabilities:    
Accounts payable 22,010 5,225
Accrued expenses and other current liabilities 67,141 48,795
Total current liabilities 89,151 54,020
Related party revenue share liability 45,220 17,940
Other liabilities 140 0
Total liabilities 134,511 71,960
Commitments and contingencies (Note 8)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued or outstanding 0 0
Additional paid-in capital 1,696,745 1,616,895
Accumulated other comprehensive income (loss) 2,370 (59)
Accumulated deficit (853,724) (547,052)
Total stockholders' equity 845,399 1,069,792
Total liabilities and stockholders' equity 979,910 1,141,752
Common Class A [Member]    
Stockholders' equity:    
Common stock 7 7
Class B Convertible Common Stock [Member]    
Stockholders' equity:    
Common stock $ 1 $ 1