v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 44,977 $ 13,164
Trade and other receivables, net of allowance 9,612 9,527
Contract assets, net of allowance 2,525 6,541
Other current assets 12,129 10,456
Total current assets 69,243 39,688
Property, plant and equipment, net 15,861 17,128
Right-of-use assets 13,868 14,378
Equity method investment 0 13,272
Equity security investment 223,094 14,990
Other non-current assets 626 751
Total assets 322,692 100,207
Current liabilities:    
Accounts payable 7,330 10,869
Other accrued liabilities 10,710 10,278
Warrants 6 11
Fixed Maturity Consideration and current FPA Put Option liability 0 4,123
Contract liabilities 5,853 423
Accrued salaries and wages 2,664 1,843
Current lease liabilities 385 176
Other liabilities 963 0
Total current liabilities 27,911 27,723
Non-current lease liabilities 15,717 16,388
Non-current contract liabilities 5,725 5,896
FPA Put Option liability 0 30,015
Brookfield Loan liability 12,700 10,900
Other long-term liabilities 3 8
Total liabilities 62,056 90,930
Commitments and Contingencies (Note 15)
Mezzanine Equity    
Convertible preferred stock, $0.0001 par value; 20,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 0 and 20,000,000 shares issued as of June 30, 2026 and December 31, 2025, respectively; and 0 and 20,000,000 shares outstanding as of June 30, 2026 and December 31, 2025, respectively 0 2
Preferred stock - additional paid-in capital 0 13,167
Total mezzanine equity 0 13,169
Shareholders’ Equity/(Deficit)    
Common stock, $0.0000001 par value, 25,800,000 shares authorized as of June 30, 2026 and December 31, 2025; 13,089,163 and 2,320,511 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 23 23
Additional paid-in capital 1,108,713 1,013,195
Accumulated other comprehensive income 828 1,444
Accumulated deficit (848,928) (1,018,554)
Total shareholders’ equity/(deficit) 260,636 (3,892)
Total liabilities, mezzanine equity and shareholders' equity $ 322,692 $ 100,207