v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 292,726 $ 198,693
Restricted cash 155 5,090
Marketable securities 546,027 784,866
Trade receivables, net 192,311 134,476
Inventory 99,391 74,841
Prepaid expenses and other current assets 68,570 47,804
Total current assets 1,199,180 1,245,770
Property and equipment, net 11,592 1,499
Intangible assets, net 7,187 7,381
Operating lease right-of-use assets 5,578 4,939
Other noncurrent assets 21,108 0
Total assets 1,244,645 1,259,589
Current liabilities:    
Accounts payable 34,514 48,878
Accrued liabilities 338,656 260,392
Operating lease liabilities 1,034 1,018
Total current liabilities 374,204 310,288
Long term liabilities:    
Loan payable, net of discount 340,794 339,881
Operating lease liabilities, net of current portion 5,923 6,731
Total long term liabilities 346,717 346,612
Total liabilities 720,921 656,900
Stockholders’ equity:    
Preferred stock, par value $0.0001 per share authorized: 5,000,000 shares at June 30, 2026 and December 31, 2025; 2,369,797 shares issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, par value $0.0001 per share authorized: 200,000,000 shares at June 30, 2026 and December 31, 2025; 23,093,974 and 22,842,073 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 2 2
Additional paid-in-capital 2,765,710 2,692,280
Accumulated other comprehensive income 808 873
Accumulated deficit (2,242,796) (2,090,466)
Total stockholders’ equity 523,724 602,689
Total liabilities and stockholders’ equity $ 1,244,645 $ 1,259,589