v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 852.7 $ 1,021.5
Restricted cash 7.3 7.3
Short-term investments 707.9 943.2
Prepaid expenses 55.7 47.3
Other current assets 23.7 56.8
Total current assets 1,647.3 2,076.1
Property and equipment, net 326.7 253.6
Intangible assets, net 94.5 80.2
Right-of-use assets 43.8 40.8
Goodwill 80.5 0.1
Other long-term assets 21.5 15.1
Total assets 2,214.3 2,465.9
Current liabilities    
Accounts payable 32.1 30.2
Current portion of lease liabilities 6.8 5.3
Accrued expenses and other current liabilities 120.3 68.1
Current portion of debt 2.1 0.8
Total current liabilities 161.3 104.4
Debt, net of current portion 78.0 79.5
Lease liabilities, net of current portion 38.7 36.3
Warrant liabilities 3.0 29.9
Other long-term liabilities 17.7 13.0
Total liabilities 298.7 263.1
Commitments and contingencies (Note 9)
Stockholders’ equity    
Preferred stock, $0.0001 par value; 10.0 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025. 0.0 0.0
Class A common stock, $0.0001 par value; 1,400.0 shares authorized; 770.0 and 744.0 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 0.1 0.1
Additional paid-in capital 4,680.5 4,507.9
Accumulated deficit (2,784.7) (2,303.8)
Accumulated other comprehensive loss (3.6) (1.4)
Total stockholders’ equity 1,892.3 2,202.8
Noncontrolling interest 23.3 0.0
Total liabilities and stockholders’ equity $ 2,214.3 $ 2,465.9