v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 189,150 $ 737,880
Accounts receivable, net 6,856 519
Inventory 12,837 352
Short term investments 765,020 379,421
Accrued interest receivable 7,542 3,634
Prepaid expenses and other current assets 6,906 11,914
Total current assets 988,311 1,133,720
Property and equipment, net 42,898 12,971
Operating lease right-of-use assets 23,146 2,353
Intangible assets, net 29,107 6,500
Goodwill 181,455 55,573
Long-term investments 369,284 403,121
Accrued interest receivable - long term 3,920 4,551
Other non-current assets 1,082 131
Total assets 1,639,203 1,618,920
Current liabilities:    
Accounts payable 4,078 778
Accrued expenses 6,951 9,135
Deferred revenue 3,774 395
Other current liabilities 3,797 766
Total current liabilities 18,600 11,074
Derivative liability 6,279 7,773
Operating lease liabilities 21,102 1,808
Other non-current liabilities 1,184 0
Total liabilities 47,165 20,655
Commitments and Contingencies (see Note 10)
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025; 3,080 shares of Series B Preferred Stock authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025, 0 0
Common stock, $0.0001 par value, 250,000 shares authorized; 226,319 and 224,165 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 23 22
Additional paid-in capital 1,830,836 1,816,494
Accumulated deficit (234,959) (219,156)
Accumulated other comprehensive (loss) income (3,862) 905
Total shareholders’ equity 1,592,038 1,598,265
Total liabilities and shareholders’ equity $ 1,639,203 $ 1,618,920