v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash $ 4,163 $ 12,672
Accounts receivable, net 3,705 3,929
Prepaid expenses and other current assets 13,190 14,320
Total current assets 21,058 30,921
Restricted cash 10,156 10,091
Property and equipment, net 47,393 45,595
Intangible assets, net 19,330 20,067
Operating lease right-of-use assets 11,358 12,510
Finance lease right-of-use assets 735 809
Other assets 10,797 11,688
Total assets 120,827 131,681
Current liabilities:    
Accounts payable 21,143 18,437
Accrued expenses and other current liabilities 41,290 47,702
Deferred revenue 18,590 17,924
Current maturities of long-term debt 2,741 2,712
Operating lease liabilities, current 3,636 3,636
Finance lease liabilities, current 282 277
SAFE notes at fair value, current 3 5
Convertible notes at fair value, current 44,867 42,274
Total current liabilities 132,926 133,610
Long-term liabilities:    
Long-term debt, net of current maturities 13,760 14,389
Convertible notes at fair value, long term 14,029 25,183
Operating lease liabilities, long term 7,801 8,714
Finance lease liabilities, long term 599 670
Due to related parties, long term 100 100
Other long-term liabilities 8,207 3,872
Total liabilities 177,422 186,538
Commitments and contingencies (Note 10)
Redeemable Common Stock:    
Common Stock, $0.0001 par value; 3,510,638 and 0 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively (Note 12). 6,600 0
Shareholders' deficit:    
Preferred Stock, $0.0001 par value; 50,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 800,000,000 shares authorized as of both March 31, 2026 and December 31, 2025; 78,399,455 shares issued and outstanding as of March 31, 2026 and 73,082,025 shares issued and outstanding as of December 31, 2025 8 7
Additional paid-in capital 745,058 733,135
Accumulated deficit (808,261) (787,999)
Total shareholders' deficit (63,195) (54,857)
Total liabilities and shareholders' deficit 120,827 131,681
Related Party    
Current liabilities:    
Due to related parties, current $ 374 $ 643