v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 165,223 $ 156,694
Available-for-sale investments 59,593 13,631
Restricted cash - current 2,636 1,984
Accounts receivable, net 5,810 2,007
Inventory 18,277 13,824
Prepaid expenses and other current assets 9,220 9,877
Total current assets 260,759 198,017
NONCURRENT ASSETS    
Restricted cash - noncurrent 9,435 9,356
Operating lease right-of-use assets 65,843 54,226
Property, plant and equipment, net 663,593 657,752
Prepaid expenses and other noncurrent assets 2,992 3,315
TOTAL ASSETS 1,002,622 922,666
CURRENT LIABILITIES    
Accounts payable 13,056 9,247
Accrued expenses and other current liabilities 24,008 42,815
Accrued interest 2,461 7,805
Total current liabilities 100,209 87,565
NONCURRENT LIABILITIES    
Deferred revenue 5,000 5,000
Operating lease right-of-use liabilities 63,530 52,350
Other noncurrent liabilities 3,624 2,710
TOTAL LIABILITIES 671,590 572,078
COMMITMENTS AND CONTINGENCIES (NOTE 10)
MEZZANINE EQUITY    
Series B Convertible Perpetual Preferred Stock - $0.001 par value, 300 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 315,530 304,701
STOCKHOLDERS' EQUITY    
Common Stock - $0.001 par value, 450,000 shares authorized; 200,905 and 180,281 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 201 180
Additional paid-in capital 1,007,534 861,953
Accumulated other comprehensive loss (632) (305)
Accumulated deficit (991,601) (815,941)
TOTAL STOCKHOLDERS' EQUITY 15,502 45,887
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY 1,002,622 922,666
Series A Preferred Stock    
NONCURRENT LIABILITIES    
Series A Preferred Stock liability 37,443 29,606
Warrants    
CURRENT LIABILITIES    
Current portion of warrant liability 50,828 13,682
NONCURRENT LIABILITIES    
Warrant liability, less current portion 37,498 45,149
Long-Term Debt    
CURRENT LIABILITIES    
Current portion of long-term debt 2,026 6,446
NONCURRENT LIABILITIES    
Long-term debt, less current portion 342,762 263,355
Related Party    
CURRENT LIABILITIES    
Current portion of long-term debt 7,830 7,570
NONCURRENT LIABILITIES    
Long-term debt, less current portion $ 81,524 $ 86,343