v3.26.1
Condensed Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Redeemable Convertible Preferred Stock
Redeemable Convertible Preferred Stock
Preferred Stock
Series D Redeemable Convertible Preferred Stock
Series D Redeemable Convertible Preferred Stock
Preferred Stock
Series B-1 and C-1 Redeemable Convertible Preferred Stock And Common Stock Warrants
Series B-1 and C-1 Redeemable Convertible Preferred Stock And Common Stock Warrants
Preferred Stock
Series B-1 and C-1 Redeemable Convertible Preferred Stock And Common Stock Warrants
Additional Paid-in Capital
Series B-1 and C-1 Redeemable Convertible Preferred Stock And Common Stock Warrants
Accumulated Deficit
Series B-1 and C-1 Redeemable Convertible Preferred Stock
Series B-1 and C-1 Redeemable Convertible Preferred Stock
Preferred Stock
Series B-1 and C-1 Redeemable Convertible Preferred Stock
Additional Paid-in Capital
Beginning balance, shares at Dec. 31, 2024           135,087,291                  
Beginning balance at Dec. 31, 2024           $ 808,221                  
Beginning balance, shares at Dec. 31, 2024   2,869,760                          
Beginning balance at Dec. 31, 2024 $ (571,930)   $ 33,011 $ (604,941)                      
Issuance of convertible preferred stock, net of issuance costs               $ 350,153              
Issuance of convertible preferred stock, net of issuance costs, shares               60,005,669              
Issuance of Series B-1 and C-1 redeemable convertible preferred stock and common stock warrants in exchange for extinguished Series B and C redeemable convertible preferred stock                   $ (8,566)          
Issuance of Series B-1 and C-1 redeemable convertible preferred stock and common stock warrants in exchange for extinguished Series B and C redeemable convertible preferred stock, shares                   19,977,824          
Issuance of Series B-1 and C-1 redeemable convertible preferred stock in exchange for modified Series B and C redeemable convertible preferred stock                           $ 11,662  
Issuance of Series B-1 and C-1 redeemable convertible preferred stock in exchange for modified Series B and C redeemable convertible preferred stock, shares                           7,587,349  
Issuance of Series B-1 and C-1 redeemable convertible preferred stock and common stock warrants in exchange for extinguished Series B and C redeemable convertible preferred stock                 $ 8,566   $ (114) $ 8,680      
Issuance of Series B-1 and C-1 redeemable convertible preferred stock in exchange for modified Series B and C redeemable convertible preferred stock                         $ (11,662)   $ (11,662)
Issuance of common stock upon exercise of stock options 25   25                        
Issuance of common stock upon exercise of stock options, shares   1,197                          
Repurchase of common stock, shares   (201)                          
Vesting of early exercised stock options and restricted common stock 137   137                        
Stock-based compensation expense 2,970   2,970                        
Net loss (68,243)     (68,243)                      
Ending balance, shares at Mar. 31, 2025           222,658,133                  
Ending balance at Mar. 31, 2025           $ 1,161,470                  
Ending balance, shares at Mar. 31, 2025   2,870,756                          
Ending balance at Mar. 31, 2025 (640,137)   24,367 (664,504)                      
Beginning balance, shares at Dec. 31, 2024           135,087,291                  
Beginning balance at Dec. 31, 2024           $ 808,221                  
Beginning balance, shares at Dec. 31, 2024   2,869,760                          
Beginning balance at Dec. 31, 2024 (571,930)   33,011 (604,941)                      
Net loss (173,454)                            
Ending balance, shares at Jun. 30, 2025           222,658,133                  
Ending balance at Jun. 30, 2025           $ 1,161,470                  
Ending balance, shares at Jun. 30, 2025   2,923,362                          
Ending balance at Jun. 30, 2025 (737,501)   32,214 (769,715)                      
Beginning balance, shares at Dec. 31, 2024           135,087,291                  
Beginning balance at Dec. 31, 2024           $ 808,221                  
Beginning balance, shares at Dec. 31, 2024   2,869,760                          
Beginning balance at Dec. 31, 2024 $ (571,930)   33,011 (604,941)                      
Ending balance, shares at Dec. 31, 2025 222,658,133       222,658,133   60,005,669                
Ending balance at Dec. 31, 2025         $ 1,161,470                    
Ending balance, shares at Dec. 31, 2025   3,068,490                          
Ending balance at Dec. 31, 2025 $ (879,034)   41,475 (920,509)                      
Beginning balance, shares at Mar. 31, 2025           222,658,133                  
Beginning balance at Mar. 31, 2025           $ 1,161,470                  
Beginning balance, shares at Mar. 31, 2025   2,870,756                          
Beginning balance at Mar. 31, 2025 (640,137)   24,367 (664,504)                      
Issuance of common stock upon exercise of stock options 531   531                        
Issuance of common stock upon exercise of stock options, shares   53,841                          
Repurchase of common stock, shares   (1,235)                          
Vesting of early exercised stock options and restricted common stock 103   103                        
Stock-based compensation expense 7,213   7,213                        
Net loss (105,211)     (105,211)                      
Ending balance, shares at Jun. 30, 2025           222,658,133                  
Ending balance at Jun. 30, 2025           $ 1,161,470                  
Ending balance, shares at Jun. 30, 2025   2,923,362                          
Ending balance at Jun. 30, 2025 $ (737,501)   32,214 (769,715)                      
Beginning balance, shares at Dec. 31, 2025 222,658,133       222,658,133   60,005,669                
Beginning balance at Dec. 31, 2025         $ 1,161,470                    
Beginning balance, shares at Dec. 31, 2025   3,068,490                          
Beginning balance at Dec. 31, 2025 $ (879,034)   41,475 (920,509)                      
Issuance of common stock in initial public offering, net of issuance costs 348,104 $ 2 348,102                        
Issuance of common stock in initial public offering, net of issuance costs, shares   21,177,600                          
Conversion of redeemable convertible preferred stock to common stock upon initial public offering         $ (1,161,470)                    
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, shares         (222,658,133)                    
Conversion of redeemable convertible preferred stock to common stock upon initial public offering 1,161,470 $ 3 1,161,467                        
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, shares   29,855,741                          
Issuance of common stock upon exercise of stock options 277   277                        
Issuance of common stock upon exercise of stock options, shares   36,724                          
Vesting of early exercised stock options and restricted common stock 35   35                        
Stock-based compensation expense 2,777   2,777                        
Net loss (82,958)     (82,958)                      
Ending balance, shares at Mar. 31, 2026   54,138,555                          
Ending balance at Mar. 31, 2026 $ 550,671 $ 5 1,554,133 (1,003,467)                      
Beginning balance, shares at Dec. 31, 2025 222,658,133       222,658,133   60,005,669                
Beginning balance at Dec. 31, 2025         $ 1,161,470                    
Beginning balance, shares at Dec. 31, 2025   3,068,490                          
Beginning balance at Dec. 31, 2025 $ (879,034)   41,475 (920,509)                      
Net loss $ (171,367)                            
Ending balance, shares at Jun. 30, 2026 0         0                  
Ending balance at Jun. 30, 2026           $ 0                  
Ending balance, shares at Jun. 30, 2026   54,148,887                          
Ending balance at Jun. 30, 2026 $ 466,500 $ 5 1,558,371 (1,091,876)                      
Beginning balance, shares at Mar. 31, 2026   54,138,555                          
Beginning balance at Mar. 31, 2026 550,671 $ 5 1,554,133 (1,003,467)                      
Issuance of common stock upon exercise of stock options 19   19                        
Issuance of common stock upon exercise of stock options, shares   10,346                          
Repurchase of common stock, shares   (14)                          
Vesting of early exercised stock options and restricted common stock 0   0                        
Stock-based compensation expense 4,219   4,219                        
Net loss $ (88,409)     (88,409)                      
Ending balance, shares at Jun. 30, 2026 0         0                  
Ending balance at Jun. 30, 2026           $ 0                  
Ending balance, shares at Jun. 30, 2026   54,148,887                          
Ending balance at Jun. 30, 2026 $ 466,500 $ 5 $ 1,558,371 $ (1,091,876)