Government contributions

6 Months Ended

Jun. 30, 2026

The Company recognized the following on the consolidated balance sheets:


	June 30, 2026
			Deferred Government Contribution
	Accounts Receivable5		Government Grant1						Total
			Non-repayable		Conditionally Repayable		Repayable
Government Contribution 1 (Canada)2	$	–	$	869	$	75,529	$	–	$	76,398
Government Contribution 2 (Canada)3	13,166		10,759		–		74,402		85,161
Government Contribution 2 (British Columbia)4	12,303		–		24,365		–		24,365
Other Government Grants	–		962		–		–		962
June 30, 2026	$	25,469	$	12,590	$	99,894	$	74,402	$	186,886
December 31, 2025	$	33,592	$	13,690	$	103,247	$	66,499	$	183,436

June 30, 2026
Current	$	17,925	$	1,983	$	6,649	$	–	$	8,632
Long-term	$	7,544	$	10,607	$	93,245	$	74,402	$	178,254

1No amounts have been accrued related to the repayment terms as the conditions are estimated to be non-probable.

2As of December 31, 2024, the Company had incurred the maximum expenditures under the agreement. Repayment of CAD $116.9 million ($88.5 million) of the funded amount is conditional on achieving certain revenue thresholds over a specified period of time.

3The funding includes repayable and conditionally repayable amounts starting in 2033 over 15 years, where the conditional portion is based on certain revenue thresholds, at a factor of up to 1.4 times the original grant. As of June 30, 2026, total available undrawn grant funding was approximately CAD $103.1 million ($72.7 million), consisting of CAD $84.5 million ($59.5 million) for future qualifying expenditures and $13.2 million in accrued grants receivable for which claims will be filed subsequently.

4Conditionally repayable amounts starting in 2032 over up to 15 years, based on certain revenue thresholds. As of June 30, 2026, total available undrawn grant funding was approximately CAD $53.0 million ($37.3 million), consisting of CAD $35.5 million ($25.0 million) upon the achievement of certain defined milestones and $12.3 million in accrued grants receivable for claims already filed for past expenditures, which remain pending reimbursement due to annual provincial disbursement limits.

5For the three months ended June 30, 2025 and 2026, the Company recognized non-cash investing activities for uncollected government grants of $1.6 million and $0.3 million, respectively, and non-cash financing activities of $10.7 million and $5.1 million, respectively. For the six months ended June 30, 2025 and 2026, non-cash investing activities were $2.4 million and $0.5 million, respectively, and non-cash financing activities were $19.0 million and $10.0 million, respectivel