v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenue $ 92,547 $ 83,839 $ 208,890 $ 190,091
Cost of revenues 70,367 74,313 164,560 155,963
Gross profit 22,180 9,526 44,330 34,128
Operating expenses        
Selling, general and administrative expenses 40,825 25,790 77,531 52,591
Stock-based compensation expense 10,893 0 95,589 0
Research and development 5,766 4,893 11,055 9,294
Transaction costs 6,009 75 11,934 106
Total operating expenses 63,493 30,758 196,109 61,991
Loss from operations (41,313) (21,232) (151,779) (27,863)
Other (expense) income        
Interest expense (2,884) (7,118) (5,783) (14,177)
Interest income 4,208 218 8,828 759
Other (expense) income, net 928 1,201 (5,279) 1,315
Total other income (expense) 2,252 (5,699) (2,234) (12,103)
Loss before provision for income taxes (39,061) (26,931) (154,013) (39,966)
Income tax (expense) benefit (282) 2,697 (172) 4,003
Net loss (39,343) (24,234) (154,185) (35,963)
Foreign currency translation adjustment 49 372 (72) 857
Comprehensive loss (39,294) (23,862) (154,257) (35,106)
Net loss per common share        
Net loss (39,343) (24,234) (154,185) (35,963)
Less: Accretion of Class P Units 0 0 192 0
Less: Deemed dividend on Conversion of the Class P Units upon IPO 0 0 60,722 0
Net loss available to common shareholders $ (39,343) $ (24,234) $ (215,099) $ (35,963)
Net loss available to common shareholders, basic net loss per share (in dollars per share) $ (0.31) $ (0.25) $ (1.76) $ (0.38)
Net loss available to common shareholders, diluted net loss per share (in usd per share) $ (0.31) $ (0.25) $ (1.76) $ (0.38)
Weighted average common shares outstanding        
Weighted average common shares outstanding, basic (in shares) 128,095,949 95,141,928 122,092,664 95,141,928
Weighted average common shares outstanding, diluted (in shares) 128,095,949 95,141,928 122,092,664 95,141,928