v3.26.1
Stockholders’ Deficit (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Equity [Abstract]    
Schedule of Common Stock Reserved For Future Issuance
Common stock reserved for future issuance as of March 31, 2026 was as follows (in thousands).
March 31,
2026
Earn Out Securities74,998
Common stock warrants(1)
64,839
Outstanding stock options53,107
Shares available for issuance under equity incentive plan25,961
Cumulative redeemable convertible preferred stock(2)
14,960
Shares available for issuance under the ESPP7,456
Total241,321
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(1)Common stock warrants include both equity-classified and liability-classified warrants (see Note 9).
(2)Includes shares issuable for accrued interest paid-in-kind (see Note 10).
Common stock reserved for future issuance as of December 31, 2025 was as follows (in thousands).
December 31,
2025
Earn Out Securities74,998
Common stock warrants(1)
65,226
Outstanding stock options55,438
Shares available for issuance under equity incentive plan25,709
Cumulative redeemable convertible preferred stock(2)
14,597
Shares available for issuance under the ESPP5,639
Total241,607
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(1)Common stock warrants include both equity-classified and liability-classified warrants (see Note 11).
(2)Includes shares issuable for accrued interest paid-in-kind (see Note 12).
Schedule of Outstanding Warrants
As of March 31, 2026, the Company had the following equity-classified common stock warrants outstanding (in thousands, except exercise price per share):
Shares Underlying WarrantsExercise Price Per ShareExpiration Date
Public Warrants24,604$9.28 9/24/2030
Private Placement Warrants14,300$9.28 9/24/2030
Assumed Kodiak Warrants559$2.24 12/31/2028, 6/30/2031
Total outstanding39,463
As of December 31, 2025, the Company had the following equity-classified common stock warrants outstanding (in thousands, except exercise price per share):
Shares Underlying WarrantsExercise Price Per ShareExpiration Date
Public Warrants24,991$9.28 9/24/2030
Private Placement Warrants14,300$9.28 9/24/2030
Assumed Kodiak Warrants559$2.24 12/31/2028, 6/30/2031
Total outstanding39,850