v3.26.1
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenue $ 1,511 $ 1,057 $ 4,343 $ 1,755
Operating expenses:        
Cost of revenue (exclusive of depreciation and amortization below) 128 60 240 110
Research and development 19,723 13,012 37,604 23,020
General and administrative 11,051 2,184 20,276 4,096
Sales and marketing 547 372 1,948 600
Depreciation and amortization 1,639 1,259 3,256 2,535
Other operating income, net (1,586) (307) (5,724) (318)
Total operating expenses 31,502 16,580 57,600 30,043
Loss from operations (29,991) (15,523) (53,257) (28,288)
Other income (expense), net:        
Interest income (expense), net 2,319 342 2,129 894
Loss on fair value of earn-out share liabilities, net (10,597) 0 (7,764) 0
Loss on derivative instruments, net (1,907) 0 (1,907) 0
Other income (expense), net (1,875) 41 (1,856) 49
Total other income (expense), net (12,060) 383 (9,398) 943
Net loss $ (42,051) $ (15,140) $ (62,655) $ (27,345)
Net loss per share, basic (in dollars per share) [1] $ (0.14) $ (0.27) $ (0.34) $ (0.49)
Net loss per share, diluted (in dollars per share) [1] $ (0.14) $ (0.27) $ (0.34) $ (0.49)
Weighted average shares outstanding, basic (in shares) [1] 299,964,510 55,786,865 186,551,397 55,718,926
Weighted average shares outstanding, diluted (in shares) [1] 299,964,510 55,786,865 186,551,397 55,718,926
Comprehensive loss:        
Net loss $ (42,051) $ (15,140) $ (62,655) $ (27,345)
Cumulative translation adjustment 454 916 237 979
Net comprehensive loss $ (41,597) $ (14,224) $ (62,418) $ (26,366)
[1] Net loss per share and weighted average shares outstanding have been retroactively recast after giving effect to the Reverse Recapitalization.