v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 84,674 $ 11,694
Available-for-sale securities, current 358,866 34,318
Accounts receivable 6,858 9,543
Unbilled receivables 4,979 4,734
Inventories 4,869 4,299
Prepaid expenses and other current assets 4,630 10,036
Total Current Assets 464,876 74,624
Property and equipment, net 8,045 8,674
Operating lease right-of-use assets 4,680 4,923
Available-for-sale securities, non-current 125,117 17,157
Goodwill 9,315 9,315
Other assets 578 620
TOTAL ASSETS 612,611 115,313
CURRENT LIABILITIES:    
Accounts payable 3,718 5,644
Accrued liabilities 9,803 8,610
Contract liabilities 8,942 6,871
Current portion of operating lease right-of-use liabilities 1,088 1,076
Deferred consideration payable, current 0 471
Total current liabilities 23,551 22,672
Operating lease liabilities, net of current portion 3,805 4,074
TOTAL LIABILITIES 27,356 26,746
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent 0 296,814
Commitments and contingencies (refer to note 9)
Stockholders' Equity (Deficit):    
Preferred stock: $0.0001 par value per share; 100,000,000 shares authorized; no shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 0 0
Common Stock 22 2
Additional paid-in capital 846,657 21,931
Accumulated deficit (261,349) (231,086)
Accumulated other comprehensive (loss) income (75) 906
Total Stockholders' Equity (Deficit) 585,255 (208,247)
Total Liabilities, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) 612,611 115,313
Series Seed convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent 0 6,526
Series Seed II convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent 0 10,411
Series A convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent 0 36,658
Series B convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent 0 112,145
Series B-1 convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent 0 32,990
Series C convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent 0 71,733
Series C-1 convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Temporary Equity, Carrying Amount, Attributable to Parent $ 0 $ 26,351