v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities                
Net loss $ (24,695) $ (29,719) $ (9,186) $ (54,414) $ (15,005) $ (21,198) $ (32,228) $ (55,742)
Adjustments to reconcile net loss to net cash used in operating activities:                
Depreciation and amortization expense 1,000   900 1,928 1,555      
Stock-based compensation expense       20,359 1,887      
Change in fair value of contingent obligation       1,472 0      
Other non-cash operating adjustments       (2,429) (807)      
Changes in operating assets and liabilities:                
Accounts receivable       4,089 1,526      
Unbilled receivables   (701)   (850) (522) 660 180 (1,512)
Inventories       (1,535) (1,468)      
Prepaid expenses and other current assets       (3,845) 671      
Other assets       (75) (37)      
Accounts payable       (1,986) 4,507      
Accrued liabilities   (314)   35,234 (2,731) (404) (1,416) 4,799
Contract liabilities       (4,283) 994      
Operating lease right-of-use assets       711 476      
Operating lease liabilities       (350) (773)      
Net cash used in operating activities   (19,159)   (5,974) (9,727) (15,945) (24,145) (32)
Cash flows from investing activities                
Purchases of available-for-sale securities       (529,743) 0      
Maturities of available-for-sale securities       60,200 0      
Purchase of non-marketable equity investment       (3,000) 0      
Purchases of property and equipment       (1,702) (1,098)      
Net cash used in investing activities       (474,245) (1,098)      
Cash flows from financing activities                
Proceeds from issuance of Series C convertible redeemable preferred stock       0 49,222      
Proceeds from stock options and warrant exercises       4,729 784      
Payment of offering costs       (3,306) 0      
Proceeds from Business Combination, net of redemptions       528,166 0      
Payment of deferred cash consideration       (475) (713)      
Net cash provided by financing activities       529,114 49,293      
Foreign currency translation       (370) 1,187      
Net increase in cash and cash equivalents and restricted cash       48,525 39,655      
Cash, cash equivalents and restricted cash at beginning of period   $ 11,894   11,894 48,142 $ 48,142 48,142  
Cash, cash equivalents and restricted cash at end of period $ 60,419   $ 87,797 60,419 87,797   $ 11,894 $ 48,142
Supplemental non-cash disclosure of cash flow information                
Conversion of preferred stock to common stock       (253,630) 0      
Reclassification of deferred offering costs in connection with business combination       (9,298) 0      
Unpaid offering costs       786 0      
Unrealized gains or losses on available-for-sale securities       $ (1,077) $ 0