v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 741,363 $ 254,475
Accounts receivable, less allowance for credit losses of $6,043 and $6,374, respectively 105,456 90,908
Prepaid expenses and other current assets 97,471 81,598
Total current assets 944,290 426,981
Noncurrent assets:    
Property and equipment, net 753,857 589,094
Restricted cash 157 158
Goodwill 350,651 348,674
Intangible assets, net 97,690 99,504
Operating lease right-of-use assets, net 328,504 270,854
Deferred tax assets 83,829 90,310
Other assets 11,409 12,130
Total assets 2,570,387 1,837,705
Current liabilities:    
Accounts payable 31,893 38,836
Accrued other expenses 56,527 42,679
Deferred revenue 6,283 5,882
Debt, current 311,256 325,109
Operating lease liabilities, current 109,779 108,037
Finance lease liabilities and equipment financing obligations, current 59,107 31,411
Other current liabilities 72,126 67,510
Total current liabilities 646,971 619,464
Noncurrent liabilities:    
Deferred tax liabilities 3,998 4,092
Debt, long-term 608,466 970,653
Operating lease liabilities, long-term 211,287 166,895
Finance lease liabilities and equipment financing obligations, long-term 208,165 99,103
Other non-current liabilities 4,124 6,188
Total liabilities 1,683,011 1,866,395
Commitments and Contingencies (Note 10)
Preferred stock ($0.000025 par value per share; 10,000,000 shares authorized; 0 shares issued and outstanding as of March 31, 2026 and December 31, 2025) 0 0
Common stock ($0.000025 par value per share; 750,000,000 shares authorized; 104,322,694 and 91,947,614 issued and outstanding as of March 31, 2026 and December 31, 2025, respectively) 2 2
Additional paid-in capital 916,917 16,005
Accumulated other comprehensive loss (1,577) (960)
Accumulated deficit (27,966) (43,737)
Total stockholders’ deficit 887,376 (28,690)
Total liabilities and stockholders’ deficit $ 2,570,387 $ 1,837,705