SIGNIFICANT ACCOUNTING POLICIES (Policies) |
6 Months Ended |
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Jun. 30, 2026 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation | Basis of Presentation—The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
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| Basis and Principles of Consolidation | Basis and Principles of Consolidation—The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Project New Horizon, LLC, which was formed in October of 2025 and is wholly owned and controlled by the Company. The subsidiary and its activity are immaterial to the results and financial position of the Company as of June 30, 2026. All intercompany accounts and transactions have been eliminated upon consolidation.
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| Reclassifications | Reclassifications—Certain immaterial prior year amounts have been reclassified to conform with the current year presentation. Inventory write-down and losses on noncancellable purchase commitments separately disclosed within the Statement of Cash Flows within prior periods were reclassified to Changes in inventory and Changes in accrued and other liabilities herein. This reclassification had no effect on the net cash used in operating activities.
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| Recently Issued Accounting Pronouncements - Not Yet Adopted | Recently Issued Accounting Pronouncements—Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, Income Statement-Reporting Comprehensive Income (Topic 220): Expense Disaggregation Disclosures, and in January 2025 issued ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which clarified the effective date of ASU 2024-03. ASU 2024-03 requires entities to disaggregate operating expenses into specific categories within the notes to the financial statements to provide enhanced transparency. The ASU will be effective for fiscal years beginning after December 15, 2026, with early adoption permitted, and may be applied retrospectively or prospectively. The Company is currently evaluating the effect of this new standard on the Company’s disclosures. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which establishes authoritative guidance on the accounting for government grants received by business entities. The ASU will be effective for fiscal years beginning after December 15, 2028. The Company is currently evaluating the effect of this new standard on the Company’s disclosures. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, clarify interim disclosure requirements and the applicability of Topic 270, which clarifies interim disclosure requirements and the applicability of Topic 270. The amendments are effective for fiscal years beginning after December 15, 2027. The Company is currently evaluating the effect of this new standard on the Company’s disclosures. In December 2025, the FASB issued ASU 2025-12, Codification Improvements, which makes Codification updates to a broad range of Topics arising from technical corrections, unintended application of the Codification, clarifications, and other minor improvements. The amendments within the ASU are effective for fiscal years beginning after December 15, 2026. The Company is currently evaluating the effect of this new standard on the Company’s disclosures.
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