v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
ORDINARY SHARES
ADDITIONAL PAID-IN CAPITAL
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED DEFICIT
Total
Beginning balance at Dec. 31, 2024 $ 17 $ 1,193,010 $ 914 $ (329,098) $ 864,843
Beginning balance (in shares) at Dec. 31, 2024 171,860        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon exercise of vested share options   965     965
Issuance of ordinary shares upon exercise of vested share options (in shares) 644        
Issuance of ordinary shares upon vesting of restricted share units (in shares) 134        
Shares withheld for taxes   (156)     (156)
Shares withheld for taxes (in shares) (28)        
Share-based compensation expense   5,918     5,918
Unrealized loss on investments, net     (99)   (99)
Net loss       (46,833) (46,833)
Ending balance at Mar. 31, 2025 $ 17 1,199,737 815 (375,931) 824,638
Ending balance (in shares) at Mar. 31, 2025 172,610        
Beginning balance at Dec. 31, 2024 $ 17 1,193,010 914 (329,098) 864,843
Beginning balance (in shares) at Dec. 31, 2024 171,860        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Unrealized loss on investments, net         (552)
Net loss         (108,494)
Ending balance at Jun. 30, 2025 $ 17 1,209,294 362 (437,592) 772,081
Ending balance (in shares) at Jun. 30, 2025 172,700        
Beginning balance at Mar. 31, 2025 $ 17 1,199,737 815 (375,931) 824,638
Beginning balance (in shares) at Mar. 31, 2025 172,610        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon exercise of vested share options   43     43
Issuance of ordinary shares upon exercise of vested share options (in shares) 22        
Issuance of ordinary shares pursuant to employee share purchase plan   474     474
Issuance of ordinary shares pursuant to employee share purchase plan (in shares) 68        
Depository issuance cost offset   1,531     1,531
Share-based compensation expense   7,509     7,509
Unrealized loss on investments, net     (453)   (453)
Net loss       (61,661) (61,661)
Ending balance at Jun. 30, 2025 $ 17 1,209,294 362 (437,592) 772,081
Ending balance (in shares) at Jun. 30, 2025 172,700        
Beginning balance at Dec. 31, 2025 $ 21 1,985,602 1,054 (470,300) 1,516,377
Beginning balance (in shares) at Dec. 31, 2025 212,513        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon exercise of vested share options   869     869
Issuance of ordinary shares upon exercise of vested share options (in shares) 231        
Issuance of ordinary shares upon vesting of restricted share units (in shares) 586        
Shares withheld for taxes   (2,574)     (2,574)
Shares withheld for taxes (in shares) (122)        
Share-based compensation expense   11,639     11,639
Unrealized loss on investments, net     (3,249)   (3,249)
Net loss       (75,968) (75,968)
Ending balance at Mar. 31, 2026 $ 21 1,995,536 (2,195) (546,268) 1,447,094
Ending balance (in shares) at Mar. 31, 2026 213,208        
Beginning balance at Dec. 31, 2025 $ 21 1,985,602 1,054 (470,300) 1,516,377
Beginning balance (in shares) at Dec. 31, 2025 212,513        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Unrealized loss on investments, net         (4,499)
Net loss         (182,127)
Ending balance at Jun. 30, 2026 $ 21 2,010,255 (3,445) (652,427) 1,354,404
Ending balance (in shares) at Jun. 30, 2026 213,655        
Beginning balance at Mar. 31, 2026 $ 21 1,995,536 (2,195) (546,268) 1,447,094
Beginning balance (in shares) at Mar. 31, 2026 213,208        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon exercise of vested share options   1,213     1,213
Issuance of ordinary shares upon exercise of vested share options (in shares) 280        
Issuance of ordinary shares pursuant to employee share purchase plan   872     872
Issuance of ordinary shares pursuant to employee share purchase plan (in shares) 114        
Issuance of ordinary shares upon vesting of restricted share units (in shares) 53        
Share-based compensation expense   12,634     12,634
Unrealized loss on investments, net     (1,250)   (1,250)
Net loss       (106,159) (106,159)
Ending balance at Jun. 30, 2026 $ 21 $ 2,010,255 $ (3,445) $ (652,427) $ 1,354,404
Ending balance (in shares) at Jun. 30, 2026 213,655