v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 410,660 $ 567,992
Restricted cash 39,770 34,636
Accounts receivable, net 3,832 6,779
Inventory 58,745 59,026
Vendor deposits 12,061 11,756
Contract assets, current 39,438 13,972
Prepaid expenses 3,389 2,701
Grant receivable, net 21,369 11,028
Other current assets 701 590
Total current assets 589,965 708,480
Property, plant and equipment, net 145,774 114,415
Intangible assets, net 1,287 979
Goodwill 4,331 4,331
Operating lease right-of-use asset, net 21,469 20,420
Long-term restricted cash 21,938 21,938
Other assets, net 14,560 14,634
Total assets 799,324 885,197
Current liabilities:    
Accounts payable 77,079 99,915
Accrued expenses 39,196 25,794
Operating lease liability, current 1,996 1,960
Long-term debt, current 0 372
Contract liabilities, current 6,718 14,975
Other current liabilities 326 524
Total current liabilities 125,315 143,540
Long-term liabilities:    
Operating lease liability 21,374 19,182
Long-term debt 506,399 662,467
Notes payable - related party 113,120 150,427
Contract liabilities, long-term 2,234 2,506
Other liabilities 394 427
Total long-term liabilities 959,783 1,618,977
Total liabilities 1,085,098 1,762,517
COMMITMENTS AND CONTINGENCIES (NOTE 14)
SHAREHOLDERS' DEFICIT    
Common stock, $0.0001 par value, 600,000,000 shares authorized, 339,459,021 and 337,132,374 shares outstanding on March 31, 2026 and December 31, 2025, respectively 32 32
Additional paid in capital 1,247,734 427,722
Accumulated deficit (2,026,936) (2,535,819)
Total shareholders' deficit (868,438) (2,238,862)
Total liabilities, preferred stock and shareholders' deficit 799,324 885,197
Series B Preferred Stock    
Long-term liabilities:    
SERIES B PREFERRED STOCK - related party 582,664 1,361,542
Nonrelated Party    
Long-term liabilities:    
Warrants liability 112,777 313,253
SHAREHOLDERS' DEFICIT    
Accumulated other comprehensive income 0 10
Related Party    
Current liabilities:    
Accounts payable 453 285
Long-term liabilities:    
Warrants liability 203,485 470,715
SHAREHOLDERS' DEFICIT    
Accumulated other comprehensive income $ (89,268) $ (130,807)