Convertible Preferred Stock, Convertible Preferred Stock Warrant Liability and Common Stock (Tables)

6 Months Ended

Jun. 30, 2026

Stockholders' Equity Note [Abstract]

Schedule of Shares Authorized, Issued, Outstanding, Par Value and Liquidation Preference of Convertible Preferred Stock

The number of authorized, issued and outstanding shares, their par value and liquidation preference for each series of convertible preferred stock as of June 30, 2026 are disclosed in the table below (amounts in thousands except share and par value amounts):


Convertible Preferred Stock	Par Value		Authorized Shares	Outstanding and Issued Shares		Liquidation Preference, Outstanding Shares
Series A	$	0.01	68,558,220	66,138,625	*	$	19,076
Series A-1	$	0.01	24,760,915	22,515,315	*	45,031
Series B	$	0.01	35,775,880	35,127,160	*	21,190
Series C	$	0.01	24,404,770	24,404,770		70,075
Series D	$	0.01	23,888,640	23,888,640		165,000
Series E-1	$	0.01	35,544,141	35,544,141		30,000
Series E-2	$	0.01	16,858,078	—		—
Series F	$	0.01	177,720,707	177,115,839		149,489
Series G	$	0.01	37,249,497	37,249,497		50,000
Total			444,760,848	421,983,987		$	549,861

* Series A, Series A-1 and Series B Convertible Preferred Stock totals are inclusive of 34,725,815, 58,165 and 16,577,495 shares, respectively, held by PGT, a consolidated VIE.

Schedule of Assumptions Used

The Company determined the fair value of the outstanding Series F Warrants utilizing the following assumptions as of the following dates:


	June 30, 2026		December 31, 2025
Volatility	54.0	%	57.0	%
Risk-free interest rate	4.10	%	3.50	%
Expected term (in years)	2.50		2.75
Dividend yield	—	%	—	%

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

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