v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 257,711 $ 737,880
Accounts receivable, net 4,281 519
Inventory 4,112 352
Short term investments 728,401 379,421
Accrued interest receivable 5,346 3,634
Prepaid expenses and other current assets 5,225 11,914
Total current assets 1,005,076 1,133,720
Property and equipment, net 16,942 12,971
Operating lease right-of-use assets 5,206 2,353
Intangible assets, net 19,191 6,500
Goodwill 146,511 55,573
Long-term investments 422,818 403,121
Accrued interest receivable - long term 4,517 4,551
Other non-current assets 273 131
Total assets 1,620,534 1,618,920
Current liabilities:    
Accounts payable 2,707 778
Accrued expenses 8,342 9,135
Deferred revenue 1,882 395
Other current liabilities 2,144 766
Total current liabilities 15,075 11,074
Derivative liability 4,597 7,773
Operating lease liabilities 3,678 1,808
Total liabilities 23,350 20,655
Commitments and Contingencies (see Note 10)
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; no shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively; 3,080 shares of Series B Preferred Stock authorized; no shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
Common stock, $0.0001 par value, 250,000 shares authorized; 225,494 and 224,165 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 23 22
Additional paid-in capital 1,823,284 1,816,494
Accumulated deficit (223,206) (219,156)
Accumulated other comprehensive (loss) income (2,917) 905
Total shareholders’ equity 1,597,184 1,598,265
Total liabilities and shareholders’ equity $ 1,620,534 $ 1,618,920