v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 359,925 $ 16,761
Accounts receivable 3,764 0
Inventories 18,535 0
Deferred offering costs 0 5,134
Prepaid expenses and other current assets 3,151 378
Total current assets 385,375 22,273
Property, plant and equipment, net 86,449 26,529
Mineral interests 17,339 17,125
Goodwill 134,848 0
Other intangible assets, net 68,612 0
Equipment deposits 1,879 3,060
Operating lease right-of-use assets 321 30
Other non-current assets 176 52
Total assets 694,999 69,069
Current liabilities    
Accounts payable 11,069 1,823
Accrued liabilities 14,073 3,071
Contract liabilities 10,500 0
Derivative liability 0 1,164
Notes payable 1,849 831
Finance leases, current 283 0
Operating leases, current 137 23
Other 0 13
Total current liabilities 37,911 6,925
Deferred grants 8,200 8,200
Finance leases, non-current 592 0
Operating leases, non-current 185 0
Earnout liabilities 108,671 0
Warrant liabilities 19,534 0
Deferred tax liability 16,715 0
Total liabilities 191,808 15,125
Commitments and contingencies (Note 6)
Mezzanine equity    
12% Series A Cumulative Convertible Preferred Stock subject to possible redemption [1] 8,905 21,173
Subscription receivable [1] 0 (1,250)
Total mezzanine equity [1] 8,905 19,923
Stockholders' equity    
Common Stock [1] 15 6
Accumulated other comprehensive income [1] 130 0
Additional paid-in-capital [1] 879,848 104,244
Accumulated deficit [1] (387,360) (72,872)
Non-controlling interest [1] 1,653 2,643
Total stockholders' equity [1] 494,286 34,021
Total liabilities, mezzanine equity, and stockholders' equity $ 694,999 $ 69,069
[1] Fiscal 2024 Recast