v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 46,097 $ 93,679
Restricted cash 747 652
Accounts receivable, net 100,937 217,451
Inventories, net 29,280 29,627
Asset held for sale 3,613 2,425
Prepaid expenses and other current assets 19,628 18,354
Total current assets 200,302 362,188
Property and equipment, net 101,531 103,711
Intangible assets, net 3,004 9,145
Goodwill 28,772 28,772
Operating lease right-of-use assets, net 49,912 55,749
Deferred tax asset, net 0 29,962
Other assets 22,925 9,203
Total assets 406,446 598,730
Current liabilities:    
Current portion of finance lease obligations 859 9,435
Current portion of operating lease obligations - related party 4,647 4,258
Current portion of operating lease obligations 3,807 4,949
Accounts payable 29,291 31,949
Accrued expenses and other current liabilities 18,359 49,533
Total current liabilities 56,963 100,124
Finance lease obligations, net of current portion 10,820 12,788
Operating lease obligations, net of current portion - related party 25,738 28,237
Operating lease obligations, net of current portion 21,079 22,470
Other liabilities 3,714 1,193
Total liabilities 118,314 164,812
Commitments and contingencies (Note 15)
Stockholders' equity:    
Series A redeemable convertible preferred stock, $0.0001 par value; 130,000 shares authorized, issued and outstanding; liquidation preference of $147,963 and $142,217 at June 30, 2026 and December 31, 2025, respectively. 139,864 133,789
Preferred stock, $0.0001 par value; 870,000 shares authorized; none issued or outstanding
Common stock, $0.0001 par value; 400,000,000 shares authorized; 129,403,096 and 127,680,424 shares issued; 128,674,548 and 126,951,876 shares outstanding at June 30, 2026 and December 31, 2025, respectively. 13 13
Additional paid-in capital 300,756 303,194
Accumulated deficit (152,501) (3,078)
Total stockholders' equity 148,268 300,129
Total liabilities, redeemable convertible preferred stock, and stockholders' equity $ 406,446 $ 598,730