v3.26.1
Stockholders’ Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Pursuant to the Second Amended and Restated Certificate of Incorporation of the Company, the Company is authorized to issue 501,000,000 shares of all classes of capital stock consisting of (i) 500,000,000 shares of common stock, par value of $0.0001 per share, and (ii) 1,000,000 shares of preferred stock, par value of $0.0001 per share. Subject to the special rights of the holders of any outstanding series of preferred stock, the number of shares of preferred stock may be increased or decreased (but not below the number of shares then outstanding) by affirmative vote of the holders of a majority of the stock of the Company entitled to vote. There are no shares of preferred stock issued and outstanding.

Equity ATM Programs

In December 2025, the Company entered into a sales agreement with sales agents pursuant to which the Company may offer and sell, from time to time and at its sole discretion, shares of its common stock up to an aggregate gross sales price of $1,500,000 in an "at-the-market" offering (the "2025 ATM Program"), which was completed during the period ended March 31, 2026. Under the 2025 ATM Program, the Company agreed to pay the sales agents' commissions at a rate equal to 1.5% of the aggregate gross proceeds from each sale of shares.

In May 2026, the Company entered into a sales agreement with sales agents pursuant to which the Company may offer and sell, from time to time and at its sole discretion, shares of its common stock up to an aggregate gross sales price of $1,000,000 in an "at-the-market" offering (the "2026 ATM Program"), which was ongoing as of June 30, 2026. Under the 2026 ATM Program, the Company agreed to pay the sales agents' commissions at a rate up to 1.5% of the aggregate gross proceeds from each sale of shares.

The following is a summary of the shares issued under the ATM Programs during the six months ended June 30, 2026 (in thousands except shares issued and average price per share):
ATM ProgramsShares IssuedAverage Net Price Per ShareGross ProceedsNet Proceeds
2025 ATM Program12,376,352$96.95$1,199,868 $1,181,897 
2026 ATM Program10,712,054$63.51680,371 670,047 
Total / Average23,088,406$81.44$1,880,239 $1,851,944 

Exercise of Stock Options – During the three and six months ended June 30, 2026, the Company issued shares of its common stock upon the exercise of stock options totaling 360,704 and 651,612, respectively, with proceeds of $860 and $1,597, respectively, as reflected on the condensed consolidated statements of stockholders’ equity. During the three and six months ended June 30, 2025, the Company issued shares of its common stock upon the exercise of stock options totaling 697,177 and 1,016,098, respectively, with proceeds of $628 and $1,348, respectively, as reflected on the condensed consolidated statements of stockholders’ equity.

Restricted Stock Units – The Company issued, in connection with the vesting of restricted stock units, 149,558 and 42,866 shares of the Company’s common stock during the three months ended June 30, 2026 and 2025, respectively, and 837,314 and 177,698 shares of common stock during the six months ended June 30, 2026 and 2025, respectively, as reflected on the condensed consolidated statements of stockholders’ equity.

Common Stock Withheld for Taxes – The Company withheld 1,280 and 66,724 shares of its common stock upon issuance of vested restricted units, representing a payment for taxes of $75 and $1,595, during the six months ended June 30, 2026 and 2025, respectively, as reflected on the condensed consolidated statements of stockholders’ equity.