v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenues $ 113 $ 0 $ 174 $ 0
Costs and expenses:        
Operation and maintenance 306 158 788 410
Research and development (income) expense, net (712) 395 (784) 359
General and administrative expense 27,427 9,484 44,417 17,163
Operating lease expense 1,490 205 4,110 2,194
Depreciation and amortization 344 56 437 103
Operating loss (28,742) (10,298) (48,794) (20,229)
Other income (expense):        
Interest income 10,521 601 13,336 2,629
Interest expense (2,215) (1,739) (4,932) (2,966)
Other non-operating expense, net (35,478) 0 (47,354) (16)
Loss before income taxes (55,914) (11,436) (87,744) (20,582)
Income tax expense (1) (2) (1) (2)
Net loss (55,915) (11,438) (87,745) (20,584)
Net loss per share information:        
Net loss (55,915) (11,438) (87,745) (20,584)
Less: Remeasurement of redeemable noncontrolling interest (3,612) (189) (7,046) (189)
Net loss attributable to common stock, basic (59,527) (11,627) (94,791) (20,773)
Net loss attributable to common stock, diluted $ (59,527) $ (11,627) $ (94,791) $ (20,773)
Weighted average shares, basic (in shares) [1] 157,003 8,844 83,643 8,902
Weighted average shares, diluted (in shares) [1] 157,003 8,844 83,643 8,902
Net loss per share attributable to common stockholders, basic (in usd per share) [1] $ (0.38) $ (1.31) $ (1.13) $ (2.33)
Net loss per share attributable to common stockholders, diluted (in usd per share) [1] $ (0.38) $ (1.31) $ (1.13) $ (2.33)
[1] Shares for periods presented have been retroactively adjusted to reflect the 0.7194-for-1 reverse stock split effected on May 14, 2026 in connection with the Company’s IPO. See Note 1 – Nature of Business and Note 2 – Significant Accounting Policies for details.