v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 352,932 $ 31,677
Available-for-sale investments   4,549
Held-to-maturity investments 139,490 108,923
Other receivables $ 700 $ 575
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Nonrelated Party [Member] Nonrelated Party [Member]
Prepayments and other current assets $ 1,150 $ 1,349
Total current assets 494,272 147,073
Non-current assets    
Held-to-maturity debt securities 280,166  
Property and equipment, net 344 444
Intangible assets 19 31
Prepayments and other non-current assets 5,069 3,960
Security deposits 253 103
Operating lease right-of-use asset 433 521
Total non-current assets 286,284 5,059
TOTAL ASSETS 780,556 152,132
Current liabilities    
Accrued expenses and other liabilities 9,636 5,761
Other payables to related parties $ 5 $ 13
Other Liability, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Operating lease liabilities - current $ 241 $ 276
Total current liabilities 9,882 6,050
Non-current liabilities    
Operating lease liabilities - non-current 188 261
Total non-current liabilities 188 261
TOTAL LIABILITIES 10,070 6,311
Shareholders' equity    
Ordinary shares, par value of US$0.0001 per share; 400,000,000 shares authorized; 31,857,802 and 39,353,365 shares issued; and 31,826,549 and 39,339,960 shares outstanding as of December 31, 2024 and 2025, respectively 4 3
Additional paid-in capital 956,276 254,125
Accumulated other comprehensive loss (536) (660)
Accumulated deficit (185,258) (107,647)
Total shareholders' equity 770,486 145,821
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 780,556 $ 152,132