v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2024
Cash flows from operating activities:              
Net loss $ 55,442 $ (94,391) $ (114,190) $ (73,238) $ (96,888) $ (229,709)  
Adjustments to reconcile net income (loss) to net cash used in operating activities:              
Stock-based compensation expense         108,336 72,342  
Depreciation and amortization expense         1,158 1,114  
Inventory write-down         11,051 0  
Amortization of debt issuance costs and discount         1,393 1,136  
Amortization of right-of-use assets         1,914 1,662  
Loss on extinguishment of debt 0   2,779   0 2,779  
Other non-cash items, net         (4,501) 612  
Changes in operating assets and liabilities:              
Trade receivables, net         (92,923) (59,463)  
Prepaid expenses and other assets         (41,888) (35,543)  
Inventory         (58,803) (35,249)  
Accounts payable         11,868 337  
Accrued liabilities         132,515 220,321  
Operating lease liability         (839) 0  
Accrued interest, net of interest received on maturity of investments         4,057 3,568  
Net cash used in operating activities         (23,550) (56,093)  
Cash flows from investing activities:              
Purchases of marketable securities         (441,575) (834,554)  
Sales and maturities of marketable securities         773,783 843,151  
Acquisition of intangible asset         0 (3,000)  
Purchases of property and equipment         (12,030) (857)  
Net cash provided by investing activities         320,178 4,740  
Cash flows from financing activities:              
Proceeds from issuance of debt         0 350,000  
Payment of debt issuance costs         0 (9,424)  
Repayment of debt         0 (121,664)  
Proceeds from exercise of common stock options         15,406 28,116  
Net cash provided by financing activities         15,406 247,028  
Effect of exchange rate changes on cash, cash equivalents and restricted cash         (370) 0  
Net increase in cash, cash equivalents, and restricted cash         311,664 195,675  
Cash, cash equivalents, and restricted cash at beginning of period   $ 203,783   $ 105,019 203,783 105,019  
Cash, cash equivalents, and restricted cash at end of period $ 515,447   $ 300,694   515,447 300,694 $ 105,019
Supplemental disclosure of cash flow information:              
Obtaining an operating lease right-of-use asset in exchange for an operating lease liability         8,566 3,982 $ 1,300
Debt issuance costs in accounts payable and accrued expenses         0 643  
Purchases of property and equipment in accounts payable and accrued expenses         $ 1,735 $ 728