v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Total revenue $ 49,810 $ 26,626 $ 99,608 $ 49,628
Operating expenses:        
Direct cost of sales, excluding depreciation and amortization 14,850 4,988 30,930 9,859
Indirect cost of sales and other expenses, excluding depreciation and amortization 4,608 321 8,948 669
Selling, general and administrative 25,011 8,805 43,122 16,740
Research and development 8,244 5,860 17,415 12,766
Depreciation and amortization 8,643 5,856 16,356 10,856
Total operating expenses 61,356 25,830 116,771 50,890
Income (loss) from operations (11,546) 796 (17,163) (1,262)
Other income (expense):        
Interest income 2,869 948 3,669 1,854
Interest expense (919) (17) (2,251) (35)
Loss from changes in fair value of financial liabilities (2,778) 0 (5,701) 0
Loss from extinguishment of debt (2,729) 0 (2,729) 0
Other income (expense), net 100 (116) 163 (537)
Total other income (expense), net (3,457) 815 (6,849) 1,282
Income (loss) before benefit for income taxes (15,003) 1,611 (24,012) 20
Income tax expense (275) 0 (255) 0
Net income (loss) (15,278) 1,611 (24,267) 20
Preferred stock dividend 10,925 (554) 10,376 (1,103)
Income allocated to participating securities 0 (945) 0 0
Net loss attributable to common stockholders, basic (4,353) 112 (13,891) (1,083)
Net loss attributable to common stockholders, diluted $ (4,353) $ 173 $ (13,891) $ (1,083)
Net loss per share, basic (in dollars per share) $ (0.07) $ 0.02 $ (0.39) $ (0.15)
Net loss per share, diluted (in dollars per share) $ (0.07) $ 0.01 $ (0.39) $ (0.15)
Weighted-average shares outstanding, basic (shares) 61,924,756 7,392,011 35,290,038 7,312,496
Weighted-average shares outstanding, diluted (shares) 61,924,756 12,225,610 35,290,038 7,312,496
Nonrelated Party        
Total revenue $ 48,441 $ 23,168 $ 93,382 $ 41,053
Related Party        
Total revenue $ 1,369 $ 3,458 $ 6,226 $ 8,575