v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (122,309) $ (78,278)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,151 5,121
Loss on disposal of property and equipment 331 871
Stock-based compensation 23,416 7,307
Warrant expense 5,634 0
Non-cash interest expense 684 534
Other 119 117
Net changes in operating assets and liabilities (9,386) 6,066
Net cash used in operating activities (95,360) (58,262)
Cash flows from investing activities    
Purchases of property and equipment (24,176) (6,681)
Proceeds from sale of property and equipment 0 431
Net cash used in investing activities (24,176) (6,250)
Cash flows from financing activities    
Proceeds from convertible Series C preferred stock 0 799
Payment of convertible Series C preferred stock issuance costs (150) (1,616)
Payment of other initial public offering issuance costs (402) 0
Repayment of borrowings (1,435) (228)
Exercise of stock options 755 750
Principal payments on finance lease obligations (16) (15)
Net cash used in financing activities (1,248) (310)
Effect of currency translation on cash, cash equivalents and restricted cash (41) (1)
Decrease in cash, cash equivalents and restricted cash (120,825) (64,823)
Cash, cash equivalents and restricted cash at beginning of period 1,715,265 302,025
Cash, cash equivalents and restricted cash at end of period 1,594,440 237,202
Supplemental cash flow information    
Cash paid for interest 2,952 2,326
Cash paid for operating leases 997 887
Non-cash investing and financing activities    
Right-of-use assets recognized for new leases 1,932 4
Property and equipment recorded in accounts payable 13,016 5,467
Stock issuance costs recorded in accounts payable and accrued liabilities $ 195 $ 9,212