v3.26.1
Condensed Consolidated Statements of Cash Flows  (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING CASH FLOW    
Net Loss $ (96,748) $ (68,004)
Adjustments to reconcile net loss to operating cash flow:    
Depreciation and amortization 643 618
Equity-based compensation expense 11,752 9,697
Disposal of property, plant and equipment 0 46
Other changes in assets and liabilities:    
Prepaid expenses and other assets (10,856) (600)
Accounts and other receivables (2025 - $979 from related party) (5,578) 8,310
Long-lead material work in process (4,786) (20,959)
Long-lead material liability 0 (4)
Accounts payable and accrued expenses (268,201) 16,222
Net change in right of use assets and lease liabilities 315 (103)
Deferred revenue 571 (300)
Accrued compensation 28 (1,030)
Net Cash Used in Operating Activities (372,860) (56,107)
INVESTING CASH FLOW    
Proceeds from sale of short-term investments 629,800 20,000
Proceeds from sale of investments 17,553 0
Purchase of short-term investments (472,707) (103,051)
Purchase of investments (850,429) (69,168)
Purchase of property, plant and equipment (1,953) 0
Net Cash Used in Investing Activities (677,736) (152,219)
FINANCING CASH FLOW    
Proceeds from the issuance of common stock, net of issuance fees 984,475 99,757
Proceeds from exercise of common share options 627 4,708
Net Cash Provided by Financing Activities 985,102 104,465
Net Change in Cash, Cash Equivalents and Restricted Cash (65,494) (103,861)
Cash, cash equivalents and restricted cash:    
Beginning of period 841,517 406,656
End of period 776,023 302,795
Summary of Noncash Investing and Financing Activities:    
Investments that converted into short-term investments 44,981 0
Accrued foreign income tax withholding to noncontrolling interests 0 416
Supplemental disclosures of cash flow information:    
Foreign income taxes paid $ 0 $ 1,600