Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents significant expenses provided to the CODM (in millions):


	Three Months Ended March 31,
	2026		2025
Revenue	$	1.6	$	—

Operating expenses
Depreciation and amortization expense	7.8		4.1
Research and development warrant expense	—		0.8
Stock-based compensation expense	70.4		30.1

General and administrative warrant expense	1.1		—
Other cost of revenue	0.9		—
Other research and development expense	133.3		88.2
Other general and administrative expense	42.7		20.8

Total operating expenses	256.2		144.0
Loss from operations	(254.6)		(144.0)
Other income (expense), net	20.6		42.0
Interest income, net	16.4		8.7
Loss before income taxes	(217.6)		(93.3)
Income tax expense	(0.1)		(0.1)
Net loss	$	(217.7)	$	(93.4)