v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities              
Net loss $ (67,719) $ (17,212) $ (7,985) $ (15,937) $ (84,931) $ (23,922)  
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:              
Depreciation and amortization expense 1,308   808   2,609 1,864  
Amortization of deferred financing costs         2,386 2,858  
Amortization of operating lease ROU asset         2,332 1,609  
Loss on debt extinguishment 48,774   15,244   48,774 15,244  
Amortization of sales commissions and fees         589 74  
Paid-in-kind interest expense         2,431 3,454  
Interest paid on long term debt         (3,531) 0  
Stock-based compensation         3,738 2,569  
Changes in operating assets and liabilities:              
Accounts receivable, net         (64,028) 6,120  
Inventory         (62,378) 27,231  
Contract assets         5,769 417  
Prepaid expenses         (13,812) 900  
Other current assets         (8,718) (4,958)  
Other noncurrent assets         (2,506) 6,990  
Accounts payable         29,998 (15,123)  
Accrued liabilities and other payables         (9,675) (10,841)  
Contract liabilities         358,380 7,404  
Operating lease liabilities         (1,065) (1,594)  
Other noncurrent liabilities         62,577 (19,861)  
Net cash provided by operating activities         268,939 436  
Cash flows from investing activities              
Capital expenditures         (8,835) (2,411)  
Net cash used in investing activities         (8,835) (2,411)  
Cash flows from financing activities              
Proceeds received from initial public offering, net of underwriter and offering costs         554,000 0  
Repurchases of Class B Units from pre-IPO owners         (156,861) 0  
Repurchases of Class A common stock from pre-IPO owners         (27,806) 0  
Other costs related to initial public offering         (225) 0  
Cash paid for fractional shares in connection with warrant conversion         (32) 0  
Proceeds from notes payable         0 25,000  
Payments of notes payable         (74,657) (25,771)  
Payments of deferred financing costs         (1,759) (420)  
Net cash provided by (used in) financing activities         292,660 (1,191)  
Net change in cash and cash equivalents         552,764 (3,167)  
Cash, cash equivalents and restricted cash              
Beginning of period   $ 108,097   $ 21,913 108,097 21,913 $ 21,913
End of period $ 660,861   $ 18,746   660,861 18,746 $ 108,097
Supplemental disclosures of cash flow information              
Interest paid         4,678 3,611  
Supplemental noncash financing and investing activities              
Conversion of convertible notes into common units         36,266 0  
Accrued capital expenditures         $ 549 $ 315