v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 227,033 $ 198,693
Restricted cash 5,155 5,090
Marketable securities 585,738 784,866
Trade receivables, net 187,356 134,476
Inventory 112,070 74,841
Prepaid expenses and other current assets 64,955 47,804
Total current assets 1,182,307 1,245,770
Property and equipment, net 8,035 1,499
Intangible assets, net 7,284 7,381
Operating lease right-of-use assets 6,203 4,939
Other noncurrent assets 23,498 0
Total assets 1,227,327 1,259,589
Current liabilities:    
Accounts payable 60,801 48,878
Accrued liabilities 275,761 260,392
Operating lease liabilities 1,697 1,018
Total current liabilities 338,259 310,288
Long term liabilities:    
Loan payable, net of discount 340,330 339,881
Operating lease liabilities, net of current portion 5,284 6,731
Total long term liabilities 345,614 346,612
Total liabilities 683,873 656,900
Stockholders’ equity:    
Preferred stock, par value $0.0001 per share authorized: 5,000,000 shares at March 31, 2026 and December 31, 2025; 2,369,797 shares issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock, par value $0.0001 per share authorized: 200,000,000 shares at March 31, 2026 and December 31, 2025; 23,041,918 and 22,842,073 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 2 2
Additional paid-in-capital 2,727,227 2,692,280
Accumulated other comprehensive income 1,082 873
Accumulated deficit (2,184,857) (2,090,466)
Total stockholders’ equity 543,454 602,689
Total liabilities and stockholders’ equity $ 1,227,327 $ 1,259,589
Preferred stock, shares issued (in shares) 2,369,797 2,369,797
Preferred stock, shares outstanding (in shares) 2,369,797 2,369,797