v3.26.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities:    
Net loss $ (25,518) $ (45,460)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 957 433
Amortization of intangible assets 480 480
Amortization of debt-related costs 325 285
Loss on disposal of property and equipment 183 0
Stock-based compensation 25,256 15,163
Non-cash lease expense 169 323
Gain on exchange of long-term investments (2,812) 0
Net amortization/accretion of marketable securities (1,611) (3,023)
Unrealized (gain) loss from transactions denominated in a foreign currency (10) 26
Changes in operating assets and liabilities:    
Accounts receivable, net (10,972) (11,574)
Inventory 2 (1,252)
Other receivables (207) (608)
Prepaid expenses 3,861 (14,449)
Other non-current assets 196 227
Accounts payable 23,410 269
Accrued payroll and benefits (5,892) (4,212)
Other accrued liabilities 28,754 13,334
Net cash provided by (used in) operating activities 36,571 (50,038)
Cash Flows From Investing Activities:    
Proceeds from maturities of marketable securities 118,404 170,218
Purchases of marketable securities (129,201) (255,273)
Purchases of property and equipment (9,887) (1,591)
Net cash used in investing activities (20,684) (86,646)
Cash Flows From Financing Activities:    
Proceeds from issuance of common stock, net of paid issuance costs 0 134,771
Proceeds from sale of common stock under employee stock purchase plan 1,438 1,101
Proceeds from exercise of stock options 3,068 2,642
Net cash provided by financing activities 4,506 138,514
Net increase in cash, cash equivalents and restricted cash 20,393 1,830
Cash, cash equivalents and restricted cash at beginning of period 186,203 97,381
Cash, cash equivalents and restricted cash at end of period 206,596 99,211
Supplemental Disclosures From Noncash, Investing and Financing Activities:    
Interest expense paid in cash 3,959 4,168
Income taxes paid in cash 4,773 0
Additions of property and equipment included within accounts payable and other accrued liabilities $ 623 $ 344