v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024 175,000          
Beginning balance at Dec. 31, 2024 $ 1,299,842          
Increase (Decrease) in Temporary Equity [Roll Forward]            
Accretion of redeemable convertible preferred stock (related party) $ 364,925          
Ending balance (in shares) at Mar. 31, 2025 175,000          
Ending balance at Mar. 31, 2025 $ 1,664,767          
Beginning balance (in shares) at Dec. 31, 2024 [1]   303,136,190        
Beginning balance at Dec. 31, 2024 3,872,812 $ 30 [1] $ 16,808,291 $ (20,716) $ (2,099) $ (12,912,694)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (366,171)         (366,171)
Other comprehensive income (loss) 7,449       7,449  
Tax withholding payments for net settlement of employee awards (3,277)   (3,277)      
Issuance of common stock upon vesting of employee RSUs (in shares) [1]   1,709,070        
Issuance of common stock upon vesting of employee RSUs 0 $ 2 [1] (2)      
Issuance of common stock upon exercise of stock options (in shares) [1]   34,813        
Issuance of common stock upon exercise of stock options 413   413      
Accretion of redeemable convertible preferred stock (related party) (364,925)   (364,925)      
Stock-based compensation 37,374   37,374      
Ending balance (in shares) at Mar. 31, 2025 [1]   304,880,073        
Ending balance at Mar. 31, 2025 $ 3,183,675 $ 32 [1] 16,477,874 (20,716) 5,350 (13,278,865)
Beginning balance (in shares) at Dec. 31, 2025 175,000          
Beginning balance at Dec. 31, 2025 $ 2,283,490          
Increase (Decrease) in Temporary Equity [Roll Forward]            
Accretion of redeemable convertible preferred stock (related party) $ 105,962          
Ending balance (in shares) at Mar. 31, 2026 175,000          
Ending balance at Mar. 31, 2026 $ 2,389,452          
Beginning balance (in shares) at Dec. 31, 2025 327,366,062 327,366,062        
Beginning balance at Dec. 31, 2025 $ 717,287 $ 33 16,337,023 (20,716) 11,692 (15,610,745)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (1,028,344)         (1,028,344)
Other comprehensive income (loss) (8,179)       (8,179)  
Tax withholding payments for net settlement of employee awards $ (1,105)   (1,105)      
Issuance of common stock upon vesting of employee RSUs (in shares)   2,469,949        
Issuance of common stock upon exercise of stock options (in shares) 308,572 308,572        
Issuance of common stock upon exercise of stock options $ 2,768   2,768      
Accretion of redeemable convertible preferred stock (related party) (105,962)   (105,962)      
Stock-based compensation $ 72,169   72,169      
Ending balance (in shares) at Mar. 31, 2026 330,144,583 330,144,583        
Ending balance at Mar. 31, 2026 $ (351,366) $ 33 $ 16,304,893 $ (20,716) $ 3,513 $ (16,639,089)
[1] The number of shares of common stock has been adjusted for the prior periods presented to reflect the one-for-ten (1:10) reverse stock split effected on August 29, 2025. See Note 2 “Summary of Significant Accounting Policies” for more information.