v3.26.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (95,442) $ (97,347)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of right-of-use assets 2,975 2,620
Accretion of investment premium (65) 0
Depreciation of property and equipment 1,699 1,740
Share-based compensation expense 19,796 11,149
Changes in operating assets and liabilities:    
Accounts receivable 388 (195)
Prepaid expenses (3,726) 2,844
Other assets (1,473) (81)
Accounts payable 4,857 (1,776)
Accrued expenses and other current liabilities (8,322) (8,055)
Deferred revenue (29,631) (16,257)
Operating lease liabilities (4,191) (3,693)
Net cash used in operating activities (113,135) (109,051)
Cash flows from investing activities    
Purchases of property and equipment (1,322) (471)
Purchases of marketable securities (122,570)  
Net cash used in investing activities (123,892) (471)
Cash flows from financing activities    
Proceeds from issuance of ordinary shares pursuant to the at-the-market equity program, net of offering costs 0 12,361
Proceeds from the exercise of share options 2,264 3,045
Proceeds from the ESPP 593 442
Net cash provided by financing activities 2,857 15,848
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash 119 101
Net decrease in cash, cash equivalents, and restricted cash (234,051) (93,573)
Cash, cash equivalents, and restricted cash, beginning of period 605,874 305,838
Cash, cash equivalents, and restricted cash, end of period 371,823 212,265
Supplemental disclosure of cash flow information    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities (See Note 2) $ 30,015 $ 0