v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 3,629 $ 4,233
Restricted cash 6,505 6,486
Accounts receivable, net 2,870 2,203
Inventory, net 7,589 7,419
Prepaid expenses and other current assets 2,673 1,686
Total current assets 23,266 22,027
Property and equipment, net 349,448 357,427
Finance lease right-of-use assets, net 415 214
Operating lease right-of-use assets, net 33 47
Intangible assets, net 29,522 30,778
Total assets 402,684 410,493
Current liabilities    
Accounts payable 14,319 11,782
Accrued liabilities 6,648 3,653
Financing obligation 606 762
Operating lease liabilities 33 32
Finance lease liabilities 111 81
Total current liabilities 21,717 16,310
Long-term debt    
Principal amount 328,308 312,250
Plus: Debt premium, net of amortization 168,238 172,368
Less: Debt discount, net of amortization (7,267) (1,498)
Long-term debt, net 489,279 483,120
Accrued interest, noncurrent 23,480 14,515
Financing obligation, noncurrent 51,364 51,342
Operating lease liabilities, noncurrent 9 25
Finance lease liabilities, noncurrent 297 155
Warrant liabilities 13,424 11,262
Total liabilities 599,570 576,729
Commitments and contingencies (Note 12)
Stockholders' deficit    
Common stock, $0.0001 par value, 400,000,000 shares authorized, 23,190,311 and 22,223,800 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 2 2
Additional paid-in capital 353,260 351,371
Accumulated deficit (550,148) (517,609)
Total stockholders' deficit (196,886) (166,236)
Total liabilities and stockholders' deficit $ 402,684 $ 410,493