v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 59,285 $ 11,694
Available-for-sale securities, current 417,673 34,318
Accounts receivable 5,413 9,543
Unbilled receivables 3,478 2,637
Inventories 5,834 4,299
Prepaid expenses and other current assets 8,666 10,036
Total current assets 500,349 72,527
Property and equipment, net 8,684 8,674
Operating lease right-of-use assets 13,709 4,923
Available-for-sale securities, non-current 104,780 17,157
Goodwill 9,315 9,315
Other assets 4,617 620
TOTAL ASSETS 641,454 113,216
CURRENT LIABILITIES:    
Accounts payable 3,650 5,644
Accrued liabilities 46,306 8,923
Contract liabilities 2,588 6,871
Current portion of operating lease liabilities 1,002 1,076
Deferred consideration payable, current 0 471
Total current liabilities 53,546 22,985
Operating lease liabilities, net of current portion 13,525 4,074
TOTAL LIABILITIES 67,071 27,059
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock 0 296,814
Commitments and contingencies (refer to note 9)
Stockholders’ Equity (Deficit):    
Preferred stock: $0.0001 par value per share; 100,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 0 0
Common stock: $0.0001 par value per share; 1,400,000,000 shares authorized; 224,681,185 and 17,449,020 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 23 2
Additional paid-in capital 862,681 21,931
Accumulated deficit (287,910) (233,496)
Accumulated other comprehensive income (loss) (411) 906
Total Stockholders' Equity (Deficit) 574,383 (210,657)
Total Liabilities, Convertible Redeemable Preferred Stock and Stockholders’ Equity (Deficit) 641,454 113,216
Series Seed convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock 0 6,526
Series Seed II convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock 0 10,411
Series A convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock 0 36,658
Series B convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock 0 112,145
Series B-1 convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock 0 32,990
Series C convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock 0 71,733
Series C-1 convertible redeemable preferred stock    
Convertible Redeemable Preferred Stock:    
Total Convertible Redeemable Preferred Stock $ 0 $ 26,351