v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning Balance at Dec. 31, 2024 $ 96,664 $ 13 $ 553,623 $ 22 $ (456,994)
Beginning Balance, Shares at Dec. 31, 2024   6,238,799      
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, and exercise of stock options (55)   (55)    
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, and exercise of stock options, shares   3,769      
Issuance costs for private placement 12   12    
Stock-based compensation expense 1,933   1,933    
Other comprehensive income (loss) 1     1  
Net loss (32,486)       (32,486)
Ending Balance at Mar. 31, 2025 66,069 $ 13 555,513 23 (489,480)
Ending Balance, Shares at Mar. 31, 2025   6,242,568      
Beginning Balance at Dec. 31, 2024 96,664 $ 13 553,623 22 (456,994)
Beginning Balance, Shares at Dec. 31, 2024   6,238,799      
Other comprehensive income (loss) (8)        
Net loss (1,606,155)        
Ending Balance at Jun. 30, 2025 (1,505,700) $ 13 557,422 14 (2,063,149)
Ending Balance, Shares at Jun. 30, 2025   6,282,288      
Beginning Balance at Mar. 31, 2025 66,069 $ 13 555,513 23 (489,480)
Beginning Balance, Shares at Mar. 31, 2025   6,242,568      
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, exercise of stock options, and issuance of common stock under ESPP 65   65    
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, exercise of stock options, and issuance of common stock under ESPP, Shares   39,720      
Stock-based compensation expense 1,844   1,844    
Other comprehensive income (loss) (9)     (9)  
Net loss (1,573,669)       (1,573,669)
Ending Balance at Jun. 30, 2025 (1,505,700) $ 13 557,422 14 (2,063,149)
Ending Balance, Shares at Jun. 30, 2025   6,282,288      
Beginning Balance at Dec. 31, 2025 $ (164,312) [1] $ 18 [2] 988,604 41 (1,152,975)
Beginning Balance, Shares at Dec. 31, 2025 38,720,196 38,720,196 [2]      
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, and exercise of stock options $ (2)   (2)    
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, and exercise of stock options, shares [2]   352      
Issuance of common stock from private placement, net of issuance costs, shares [2]   5,338,078      
Issuance of common stock from private placement, net of issuance costs 74,906   74,906    
Stock-based compensation expense 8,870   8,870    
Issuance of common stock from exercise of pre-funded warrants 150,446 $ 1 [2] 150,445    
Issuance of common stock from exercise of pre-funded warrants, shares [2]   10,126,956      
Other comprehensive income (loss) (747)     (747)  
Net loss (219,582)       (219,582)
Ending Balance at Mar. 31, 2026 (150,421) $ 19 [2] 1,222,823 (706) (1,372,557)
Ending Balance, Shares at Mar. 31, 2026 [2]   54,185,582      
Beginning Balance at Dec. 31, 2025 $ (164,312) [1] $ 18 [2] 988,604 41 (1,152,975)
Beginning Balance, Shares at Dec. 31, 2025 38,720,196 38,720,196 [2]      
Other comprehensive income (loss) $ (963)        
Net loss (282,392)        
Ending Balance at Jun. 30, 2026 $ (200,197) [1] $ 19 [2] 1,236,073 (922) (1,435,367)
Ending Balance, Shares at Jun. 30, 2026 54,455,751 54,455,751 [2]      
Beginning Balance at Mar. 31, 2026 $ (150,421) $ 19 [2] 1,222,823 (706) (1,372,557)
Beginning Balance, Shares at Mar. 31, 2026 [2]   54,185,582      
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, and exercise of stock options (2)   (2)    
Issuance of common stock upon vesting of RSUs, net of shares withheld for taxes, and exercise of stock options, shares [2]   295      
Issuance costs for private placement (14)   (14)    
Stock-based compensation expense 9,399   9,399    
Issuance of common stock from exercise of pre-funded warrants 3,867   3,867    
Issuance of common stock from exercise of pre-funded warrants, shares [2]   269,874      
Other comprehensive income (loss) (216)     (216)  
Net loss (62,810)       (62,810)
Ending Balance at Jun. 30, 2026 $ (200,197) [1] $ 19 [2] $ 1,236,073 $ (922) $ (1,435,367)
Ending Balance, Shares at Jun. 30, 2026 54,455,751 54,455,751 [2]      
[1] All share and per share amounts have been restated for prior periods on a retroactive basis to reflect a one-for-twenty reverse stock split effected in September 2025. See Note 2 for details.
[2] All share and per share amounts have been restated for prior periods on a retroactive basis to reflect a one-for-twenty reverse stock split effected in September 2025. See Note 2 for details.