v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 93,043 $ 58,260
Restricted cash, current portion 14,309 4,717
Accounts receivable, net of allowance for credit losses of $1,251 and $1,236 as of June 30, 2026 and December 31, 2025, respectively 7,235 25,938
Contract assets, net of allowance for credit losses of $25,163 and $25,101 as of June 30, 2026 and December 31, 2025, respectively 15,065 20,631
Inventory 366 139
Advances to suppliers 30,104 6,318
Property and equipment held for sale 6,178 0
Prepaid expenses and other current assets 15,249 5,067
Total current assets 181,549 121,070
Property and equipment, net 96,133 96,064
Intangible assets, net 7,195 8,277
Operating lease right-of-use assets, net 2,024 2,242
Investments, long-term portion 1,336 3,366
Restricted cash, long-term portion 40,669 40,466
Deferred income taxes, net 28,467 40,508
Other assets 13,153 883
Total Assets 370,526 312,876
Current Liabilities    
Accounts payable 14,988 30,838
Accrued expenses 27,824 70,389
Debt, current portion (including $70,448 and $50,250 measured at fair value as of June 30, 2026 and December 31, 2025, respectively) 77,978 56,628
Contract liabilities 29,726 6,610
Other current liabilities 1,683 552
Total current liabilities 152,199 165,017
Long-term debt (including $7,318 and $16,427 measured at fair value as of June 30, 2026 and December 31, 2025, respectively) 165,036 37,970
Warrant liabilities 13,500 15,050
Deferred pension obligation 1,914 1,837
Other long-term liabilities 5,269 4,386
Total liabilities 337,918 224,260
Commitments and contingencies
Mezzanine Equity    
Redeemable non-controlling interest 25,751 21,156
Stockholders’ Equity    
Preferred stock, $0.0001 par value; 5,000 shares authorized, none issued 0 0
Common stock, $0.0001 par value; 500,000 shares authorized, 179,940 and 168,969 issued and outstanding at June 30, 2026 and December 31, 2025, respectively 18 17
Additional paid-in capital 557,315 555,873
Accumulated deficit (549,610) (487,433)
Accumulated other comprehensive loss (835) (966)
Non-controlling interest (31) (31)
Total stockholders’ equity 6,857 67,460
Total Liabilities, Mezzanine Equity, and Stockholders’ Equity $ 370,526 $ 312,876