v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 121,822 $ 151,000
Restricted cash, current 61,684 49,519
Accounts receivable, net of allowance of $32 and $75 as of June 30, 2026 and December 31, 2025, respectively 29,349 38,628
Accounts receivable, capital-build 15,481 19,461
Prepaids and other current assets 44,488 37,872
Total current assets 272,824 296,480
Restricted cash, noncurrent 14,144 10,227
Property, equipment and software, net 469,281 460,747
Operating lease right-of-use assets 114,412 102,966
Other assets 35,161 30,937
Intangible assets, net 30,031 32,421
Goodwill 31,052 31,052
Total assets 966,905 964,830
Current liabilities    
Accounts payable 12,383 7,582
Accrued liabilities 49,191 59,924
Operating lease liabilities, current 9,720 7,765
Deferred revenue, current 45,849 55,060
Warrant liabilities, at fair value 168 1,370
Long-term debt, current 3,580 2,146
Other current liabilities 3,802 1,475
Total current liabilities 124,693 135,322
Operating lease liabilities, noncurrent 108,585 96,983
Asset retirement obligations 33,411 30,868
Capital-build liability 53,374 55,820
Deferred revenue, noncurrent 41,155 47,711
Long-term debt, noncurrent 293,670 204,316
Other long-term liabilities 2,419 7,866
Total liabilities 657,307 578,886
Commitments and contingencies (Note 10)
Redeemable noncontrolling interest 330,048 502,848
Stockholders’ deficit    
Preferred stock 0 0
Additional paid-in capital 0 7,753
Accumulated deficit (20,443) (124,687)
Accumulated other comprehensive loss (38) 0
Total stockholders’ deficit (20,450) (116,904)
Total liabilities, redeemable noncontrolling interest and stockholders’ deficit 966,905 964,830
Class A Common Stock    
Stockholders’ deficit    
Common stock 14 13
Class B Common Stock    
Stockholders’ deficit    
Common stock $ 17 $ 17