v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (113,131) $ (34,068)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 22,038 8,277
Depreciation 7,107 1,269
Amortization 5,725 23
Deferred income taxes (770) 0
Accretion of discount on available-for-sale securities (781) (398)
Changes in operating assets and liabilities, net of effects of businesses acquired:    
Accounts receivable, net (1,168) (499)
Prepaid expenses (152) (650)
Other receivables (1,058) (283)
Other current assets (32) 0
Accounts payable (1,765) (485)
Accrued liabilities 472 1,208
Deferred revenue 48 (8)
Operating lease liabilities (1,271) 188
Net cash used in operating activities (84,738) (25,426)
Cash flows from investing activities:    
Proceeds from maturities and sales of marketable securities 99,722 0
Purchases of marketable securities (107,068) (66,308)
Acquisitions, net of cash acquired (21,447) (5,634)
Purchases of property and equipment (2,417) (9,498)
Proceeds from tariff refunds 3,567 0
Security deposits (71) (69)
Capitalized software implementation costs 0 (425)
Net cash used in investing activities (27,714) (81,934)
Cash flows from financing activities:    
Proceeds from issuance of common stock pursuant to at-the-market public offerings, net of offering costs 84,922 13,521
Proceeds from exercise of options 404 224
Proceeds from issuance of common stock in registered direct offering, net of offering costs 0 75,847
Proceeds from exercise of warrants 0 11,376
Repayments of financing lease liability 0 (186)
Proceeds from short-swing profit disgorgement 0 48
Payments of deferred offering costs 0 (35)
Net cash provided by financing activities 85,326 100,795
Effect of exchange rate changes on cash and cash equivalents (1) (1)
Net change in cash and cash equivalents (27,126) (6,565)
Cash and cash equivalents at beginning of period 106,239 123,266
Cash and cash equivalents at end of period 79,112 116,700
Supplemental disclosure of cash flow information:    
Cash paid for interest 197 93
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Non-cash consideration for acquisitions 6,984 0
Operating lease right-of-use assets obtained for lease obligations 5,584 1,172
Purchases of property and equipment, accrued but not paid $ 1,118 $ 64