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 $ (62,177) $ (56,106)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation, amortization, and accretion 6,786 778
Non-cash debt and financing costs 1,912 1,380
Loss on debt extinguishment 5,370 1,412
Non-cash interest income 0 (364)
Stock-based compensation 11,419 18,260
Provision for credit losses 77 3,832
Change in fair value of financial instruments carried at fair value (1,355) 0
Impairment of equity securities 2,030 0
Non-cash expenses related to equity purchase agreement 0 667
Deferred income taxes 276 0
Foreign exchange losses (gains) (12) 349
Change in operating assets and liabilities    
Accounts receivable 18,592 10,190
Inventory (234) 0
Contract assets 6,049 (931)
Prepaid expenses and other current assets (10,190) (1,944)
Advances to suppliers (16,135) (18,104)
Other assets (12,949) 717
Accounts payable and accrued expenses (59,050) (3,296)
Contract liabilities 23,312 56,072
Other current liabilities 1,165 0
Other long-term liabilities 753 (283)
Net cash provided by (used in) operating activities (84,361) 12,629
Cash Flows From Investing Activities    
Purchase of property and equipment (16,206) (15,194)
Investment in note receivable 0 (2,142)
Investment tax credit proceeds 11,765 0
Net cash used in investing activities (4,441) (17,336)
Cash Flows From Financing Activities    
Proceeds from issuance of debt 224,093 63,794
Repayment of debt (59,565) (27,826)
Payment of debt issuance costs (9,835) (5,409)
Purchase of capped calls (20,460) 0
Proceeds from insurance premium financings 0 1,665
Repayment of insurance premium financings (438) (1,225)
Proceeds from issuance of stock 3,923 1,199
Payment of equity issuance costs (123) 0
Short-swing profit recovery 0 24
Proceeds from exercise of stock options 976 2
Payment of finance lease obligations (26) (84)
Payment of taxes related to net settlement of equity awards (3,421) 0
Net cash provided by financing activities 135,124 32,140
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,744) 593
Net increase in cash, cash equivalents, and restricted cash 44,578 28,026
Cash, cash equivalents, and restricted cash  –  beginning of the period 103,443 30,073
Cash, cash equivalents, and restricted cash –  end of the period 148,021 58,099
Cash, cash equivalents, and restricted cash –  end of the period 148,021 58,099
Less: restricted cash at end of period 54,978 36,683
Cash and cash equivalents - end of period 93,043 21,416
Supplemental Disclosures of Cash Flow Information:    
Cash paid for income taxes 42 396
Cash paid for interest 3,310 476
Supplemental Disclosures of Non-Cash Investing and Financing Information:    
Actuarial gain (loss) on pension (54) 235
Property and equipment financed through accounts payable and accrued expenses 0 11,493
Assets acquired on finance lease 0 87
Debt issuance costs incurred but unpaid $ 842 $ 0