v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 117,933 $ 199,430
Investments in securities, available-for-sale 190,437 138,462
Interest receivable 870 1,376
Prepaid expenses and other current assets 3,669 4,496
Total current assets 312,909 343,764
Long-term assets    
Restricted cash 1,206 2,427
Investments in securities, available-for-sale 0 38,242
Intangible assets, net 402 181,572
Property, plant, and equipment, net 23,392 32,758
Operating lease right-of-use assets 269 551
Other long-term assets 147 387
Total assets 338,325 599,701
Current liabilities    
Accounts payable 124 1,437
Accrued liabilities 4,864 7,565
Due to related parties 6,976 37,262
Operating lease liabilities, current 1,091 1,074
Finance lease liabilities, current 33 127
Asset retirement obligation, current 4,490 0
Total current liabilities 17,578 47,465
Warrant liability 5,770 10,850
Non-current operating lease liabilities 2,180 2,584
Asset retirement obligation 0 3,597
Total liabilities 25,528 64,496
Commitments and contingencies (Note 14)
Mezzanine shareholders' equity    
Redeemable non-controlling interests in subsidiary 229,270 331,301
Shareholders' equity    
Preferred Stock, $.0001 par value; 1,000 shares authorized; no shares issued or outstanding as of June 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 868,368 898,425
Accumulated other comprehensive (loss) income (44) 129
Accumulated deficit (784,820) (694,672)
Total shareholders' equity 83,527 203,904
Total liabilities, mezzanine shareholders' equity, and shareholders' equity 338,325 599,701
Class A Common Stock    
Shareholders' equity    
Common stock, value, issued 9 8
Class B Common Stock    
Shareholders' equity    
Common stock, value, issued $ 14 $ 14