RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS During the three months ended March 31, 2025, the Company converted $1.2 million from its previously outstanding Velaura SAFE investment into preferred stock and purchased additional shares of Velaura preferred stock for a purchase price of $20.0 million. As of March 31, 2026, the Company’s total investment holdings in Velaura was $85.4 million, reflecting prior purchases of preferred stock, the exercise of a warrant to acquire common stock and adjustments to the carrying value of the investment in accordance with ASC 321. The Company holds one seat on Velaura’s board of directors. The Company did not advance any payments to Velaura during the three months ended March 31, 2026 and, as of March 31, 2026, had no remaining outstanding balance or commitment to Velaura, as all previous committed amounts had been paid in full. During the three months ended March 31, 2025, the Company advanced payments of $22.3 million to Velaura for product purchases, with an outstanding balance to be fulfilled of $57.2 million, as of March 31, 2025.
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