v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 125,391 $ 164,086
Accounts receivable, net of allowance for credit loss of $nil and $nil 22,723 16,076
Inventory 15,844 11,411
Prepaid expenses and other current assets 15,972 11,536
Marketable securities 408,338 365,125
Interest receivable on marketable securities 3,261 3,285
Total current assets 591,529 571,519
Property and equipment, net of accumulated depreciation of $1,260 and $1,184, respectively 535 564
Intangible assets, net of accumulated amortization of $2,315 and $1,856, respectively 10,755 11,214
Operating lease right-of-use assets 3,598 3,918
Other non-current assets 3,824 7,607
Total assets 610,241 594,822
Current liabilities:    
Accounts payable 22,435 9,479
Current operating lease liabilities 1,838 1,880
Contract liabilities, current portion 8,651 7,515
Liability related to revenue interest financing agreement, current portion 7,944 9,585
Short-term borrowings 5,790 5,724
Accrued expenses 32,864 45,183
Total current liabilities 79,522 82,231
Warrant liability 0 2,865
Contract liabilities, net of current portion 9,743 11,305
Non-current operating lease liabilities 2,199 2,543
Non-current liability related to revenue interest financing agreement, net of deferred financing costs of $4,030 and $4,241, respectively 151,886 145,819
Long-term borrowings, net of deferred financing costs of $2,923 and $3,042, respectively 47,327 47,208
Total liabilities 290,677 289,106
Commitments and contingencies (Note 11)
Stockholders' equity    
Class A and Class B common stock and additional paid in capital, $0.0001 par value per share; 1,060,000,000 (Class A 1,000,000,000, Class B 60,000,000 shares authorized as of March 31, 2026 and December 31, 2025 respectively 347,693,331 (Class A 346,693,331, Class B 1,000,000) and 346,503,675 (Class A 345,503,675, Class B 1,00,000) shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively. 1,431,214 1,421,273
Accumulated deficit (1,109,973) (1,115,370)
Accumulated other comprehensive income (1,677) (187)
Total stockholders' equity 319,564 305,716
Total liabilities and stockholders' equity $ 610,241 $ 594,822