v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 163,991 $ 194,513
Accounts receivable, net of allowance for credit losses of $258 as of June 30, 2026 and December 31, 2025 18,693 14,412
Prepaid expenses and other current assets 6,283 7,553
Total current assets 188,967 216,478
Non-current assets:    
Property and equipment, net 21,020 20,776
Operating lease right-of-use assets, net 3,771 1,082
Non-marketable equity securities 52,768 52,768
Restricted cash, non-current 1,000 1,000
Other non-current assets 4,169 1,351
Total non-current assets 82,728 76,977
Total assets 271,695 293,455
Current liabilities:    
Accounts payable 5,558 9,713
Operating lease liabilities, current 837 465
Current portion of long-term debt 128,646 127,589
Other current liabilities 48,818 42,944
Total current liabilities 183,859 180,711
Non-current liabilities:    
Operating lease liabilities, non-current 3,104 665
Other non-current liabilities 264 259
Total non-current liabilities 3,368 924
Total liabilities 187,227 181,635
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Preferred stock $0.0001 par value; 10.0 million 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; 31.3 million shares authorized; Class A common stock – 25.0 million shares authorized; 20.1 million and 19.3 million shares issued; 13.0 million and 12.2 million outstanding as of June 30, 2026 and December 31, 2025, respectively; Class B common stock – 6.3 million shares authorized; 3.4 million shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 1 1
Additional paid-in capital 1,252,926 1,245,462
Accumulated other comprehensive income (loss) 233 (371)
Accumulated deficit (1,127,086) (1,091,666)
Treasury stock at cost, 7.1 million and 7.1 million shares as of June 30, 2026 and December 31, 2025, respectively (41,606) (41,606)
Total stockholders’ equity 84,468 111,820
Total liabilities and stockholders’ equity $ 271,695 $ 293,455