v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net loss $ (48,028) $ (167,329) $ (66,385) $ (172,750)  
Adjustments to reconcile net loss to cash used in operating activities:          
Depreciation and amortization     8,536 714  
Deferred income taxes     (28,365) 0  
Stock-based compensation     19,132 10,664  
Amortization of operating right-of-use assets     699 346  
Provision for excess and obsolete inventory     (103) 0  
Non-cash interest income     1,262 0  
Non-cash interest expense     467 387  
Change in fair value of warrant liabilities 0 142,048 0 138,105  
Gain on marketable equity securities     (1,880) 0  
Unrealized foreign exchange loss (gain)     (1,740) 1,998  
Other noncash items     0 267  
Change in operating assets and liabilities:          
Trade accounts receivable     (432) (57)  
Inventories     (2,605) (762)  
Prepaid expenses and other current assets     (455) (1,368)  
Trade accounts payable     (975) 416  
Accrued expenses and other current liabilities     (4,371) 2,695  
Deferred revenue     7,218 (13,796)  
Operating lease liability     (332) (344)  
Other non-current assets, net     (3,134) (1,080)  
Net cash used in operating activities     (73,463) (34,565)  
Cash flows from investing activities:          
Acquisition of business, net of cash acquired     (252,821) 0  
Purchase of property and equipment     (5,521) (1,187)  
Purchases of marketable debt securities     (149,117) 0  
Maturities of marketable debt securities     147,241 0  
Proceeds from recovery of previously written-off convertible note     0 959  
Expenditures for internal-use software     (363) (129)  
Net cash used in investing activities     (260,581) (357)  
Cash flows from financing activities:          
Proceeds from the issuance of common stock pursuant to the Lincoln Park Purchase Agreement     0 37,787  
Proceeds from the issuance of common stock in at-the-market offerings, net of issuance costs     0 536,741  
Proceeds from issuance of common stock upon exercise of warrants     0 99,319 $ 202,900
Proceeds from the issuance of common stock upon exercise of stock options     1,614 6,860  
Proceeds from common stock issued under the Employee Stock Purchase Plan     724 291  
Payment of tax withheld pursuant to stock-based compensation settlements     (6,885) (5,664)  
Repayments on TPC loan     0 (365)  
Repayment of the Equipment Financing Term Loan     (69) 0  
Payments of equity issuance costs     (203) 0  
Net cash provided by (used in) financing activities     (4,819) 674,969  
Effect of exchange rate changes on cash and cash equivalents     158 1,285  
Net increase (decrease) in cash and cash equivalents     (338,705) 641,332  
Cash and cash equivalents at beginning of period     635,347 177,980 177,980
Cash and cash equivalents at end of period 296,642 819,312 296,642 819,312 635,347
Supplemental disclosures of cash flow information:          
Cash Paid for Interest     33 0  
Common stock issued for acquisition of business     282,479 0  
Capitalized stock-based compensation $ 300 $ 100 422 132  
Inventory applied to capital projects     1,996 0  
Reclassification of warrant liability to equity upon exercise     0 116,943 $ 340,400
Operating lease right-of-use assets exchanged for new operating lease obligations     6,131 0  
Purchases of property and equipment included in accounts payable     3,133 0  
Unrealized gains (losses) on available-for-sale securities included in other comprehensive loss     $ 160 $ 0