v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 514,642 $ 198,693
Restricted cash 805 5,090
Marketable securities 446,324 784,866
Trade receivables, net 227,377 134,476
Inventory 122,589 74,841
Prepaid expenses and other current assets 75,372 47,804
Total current assets 1,387,109 1,245,770
Property and equipment, net 13,959 1,499
Intangible assets, net 7,091 7,381
Operating lease right-of-use assets 12,847 4,939
Other noncurrent assets 13,383 0
Total assets 1,434,389 1,259,589
Current liabilities:    
Accounts payable 61,367 48,878
Accrued liabilities 391,864 260,392
Operating lease liabilities 1,013 1,018
Total current liabilities 454,244 310,288
Long term liabilities:    
Loan payable, net of discount 341,275 339,881
Operating lease liabilities, net of current portion 11,929 6,731
Total long term liabilities 353,204 346,612
Total liabilities 807,448 656,900
Stockholders’ equity:    
Preferred stock, par value $0.0001 per share authorized: 5,000,000 shares at September 30, 2026 and December 31, 2025; 2,369,797 shares issued and outstanding at September 30, 2026 and December 31, 2025 0 0
Common stock, par value $0.0001 per share authorized: 200,000,000 shares at September 30, 2026 and December 31, 2025; 23,221,744 and 22,842,073 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 2 2
Additional paid-in-capital 2,816,022 2,692,280
Accumulated other comprehensive (loss) income (1,729) 873
Accumulated deficit (2,187,354) (2,090,466)
Total stockholders’ equity 626,941 602,689
Total liabilities and stockholders’ equity $ 1,434,389 $ 1,259,589