v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (15,803) $ (19,500)
Adjustments to reconcile net loss to net cash used in operations    
Depreciation and intangibles amortization 5,126 1,862
Change in fair value of derivative and warrant liabilities (1,494) 4,466
Provision for credit losses (63) 0
Amortization of operating lease right-of-use assets 801 222
Stock-based compensation expense 3,005 3,165
Stock-based compensation expense for services 0 18
Change in operating assets and liabilities    
Accounts receivable, net 1 (69)
Inventory (1,695) (348)
Accrued interest receivable (3,277) 0
Prepaid expenses and other current assets (4,650) (844)
Other non-current assets (631) (2)
Accounts payable 979 0
Accrued expenses and other current liabilities (5,478) 618
Deferred revenue 620 102
Operating lease liabilities (738) (224)
Net cash used in operating activities (23,297) (10,534)
Cash flows from investing activities:    
Purchase of property and equipment (4,488) (2,757)
Purchases of available-for-sale debt securities (1,088,477) 0
Proceeds from sales of available-for-sale debt securities 248,342 0
Proceeds from maturities of available-for-sale debt securities 483,606 0
Purchase of Luminar Semiconductor, Inc. (97,499) 0
Purchase of NHanced Semiconductors, Inc. (68,784) 0
Purchase of NuCrypt, LLC, net of cash acquired (2,433) 0
Net cash used in investing activities (529,733) (2,757)
Cash flows from financing activities:    
Proceeds from exercise of warrants 0 1,462
Proceeds from issuance of common stock 4,300 281,642
Net cash provided by financing activities 4,300 283,104
Net (decrease) increase in cash (548,730) 269,813
Cash and cash equivalents, beginning of period 737,880 78,945
Cash and cash equivalents, end of period 189,150 348,758
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 0
Non-cash investing and financing activities:    
Leased assets obtained in exchange for new operating lease liabilities 5,579 776
Fair value of derivative liability reclassed to additional paid-in capital due to exercise of warrants 0 20,404
Fair value of equity consideration related to business combinations $ 7,038 $ 0