v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Revenues $ 10,133 $ 9,599
Cost of revenues:    
Cost of revenues 4,301 1,738
Gross margin:    
Gross margin 5,832 7,861
Operating expenses:    
Research and development [1] 91,739 57,864
General and administrative [1] 47,050 28,014
Total operating expenses 138,789 85,878
Loss from operations (132,957) (78,017)
Other (income) expense:    
Interest income (14,481) (2,697)
Interest expense [2] 3,617 2,860
Total other (income) expense (10,864) 163
Loss before income taxes (122,093) (78,180)
Provision for income taxes 216 98
Net loss (122,309) (78,278)
Convertible preferred stock PIK dividend 0 12,164
Net loss attributable to common stockholders, basic (122,309) (90,442)
Net loss attributable to common stockholders, diluted $ (122,309) $ (90,442)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.53) $ (1.98)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.53) $ (1.98)
Comprehensive loss:    
Net loss $ (122,309) $ (78,278)
Foreign currency translation adjustments (77) (2)
Comprehensive loss (122,386) (78,280)
Product    
Revenues:    
Revenues 963 2,488
Cost of revenues:    
Cost of revenues 596 533
Gross margin:    
Gross margin 367 1,955
Service    
Revenues:    
Revenues [3] 9,170 7,111
Cost of revenues:    
Cost of revenues 3,705 1,205
Gross margin:    
Gross margin $ 5,465 $ 5,906
[1] Includes related party amounts of $5,634 and $0 attributable to warrant expense (research and development) and $87 and $(103) (general and administrative) for the three months ended March 31, 2026 and 2025, respectively (see Note 11).
[2] Includes related party amounts of $701 and $0 for the three months ended March 31, 2026 and 2025, respectively (see Note 11).
[3] Includes related party amounts of $7,999 and $2,182 for the three months ended March 31, 2026 and 2025, respectively (see Note 11)