v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue $ 203,412 $ 50,313 $ 387,042 $ 112,837
Grant revenue 2,756 0 5,856 0
Total revenue 206,168 50,313 392,898 112,837
Operating expenses:        
Cost of grant revenue (excluding depreciation and amortization) 2,760 0 5,861 0
Total cost of revenues 170,302 62,156 326,925 118,003
Depreciation and amortization 14,927 752 27,975 1,375
Research and development 7,729 461 13,318 1,372
General and administrative expense (excluding depreciation and amortization) 60,346 15,584 111,017 30,804
Total operating expenses 253,304 78,953 479,235 151,554
Operating loss (47,136) (28,640) (86,337) (38,717)
Other income (expense), net:        
Interest income 1,476 3,500 2,907 4,919
Interest expense (4,483) (72) (9,368) (97)
Change in fair value of earn-out liabilities 0 0 0 (33,369)
Change in fair value of warrant liabilities (11,622) (13,033) (21,044) 29,969
Change in fair value of contingent consideration liabilities (890) 0 (1,411) 0
Other income (expense), net (178) 39 (106) 65
Total other income (expense), net (15,697) (9,566) (29,022) 1,486
Loss before income taxes (62,833) (38,206) (115,359) (37,231)
Income tax expense (8) 0 (10) 0
Net loss (62,841) (38,206) (115,369) (37,231)
Net loss attributable to redeemable noncontrolling interest (16,781) (13,408) (32,265) (1,499)
Net income attributable to noncontrolling interest 385 383 728 845
Net loss attributable to the Company (46,445) (25,181) (83,832) (36,577)
Less: Preferred dividends (167) (151) (329) (298)
Net loss attributable to Class A common shareholders - basic (46,612) (25,332) (84,161) (36,875)
Net loss attributable to Class A common shareholders - diluted $ (46,612) $ (25,332) $ (84,161) $ (36,875)
Net loss per share        
Net loss per share of Class A common stock - basic (in dollars per share) $ (0.29) $ (0.22) $ (0.54) $ (0.33)
Net loss per share of Class A common stock - diluted (in dollars per share) $ (0.29) $ (0.22) $ (0.54) $ (0.33)
Weighted-average common shares outstanding        
Weighted average shares outstanding - basic (in shares) 162,172,470 117,434,775 155,064,726 112,286,945
Weighted average shares outstanding - diluted (in shares) 162,172,470 117,434,775 155,064,726 112,286,945
Product revenue        
Revenue $ 166,735 $ 0 $ 308,289 $ 0
Product revenue | Nonrelated Party        
Operating expenses:        
Cost of goods and service, excluding depreciation, depletion, and amortization 119,328 0 233,241 0
Service revenue        
Revenue 36,677 50,313 78,753 112,837
Service revenue | Nonrelated Party        
Operating expenses:        
Cost of goods and service, excluding depreciation, depletion, and amortization 41,126 56,047 74,786 104,972
Service revenue | Affiliated Entity        
Operating expenses:        
Cost of goods and service, excluding depreciation, depletion, and amortization $ 7,088 $ 6,109 $ 13,037 $ 13,031