v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Allowance for credit loss $ 945 $ 469
Cash and cash equivalents [1] 86,004 24,408
Accounts receivable [1],[2] 42,105 61,806
Government grants receivable [1] 17,308 16,456
Restricted cash - current [1] 1,440 1,210
Prepaid expense and other current assets [1] 16,629 16,018
Property, plant, and equipment, net [1] 520,369 468,993
Restricted cash - non-current [1] 3,020 2,700
Total assets of consolidated VIEs [1] 1,024,614 908,328
Accounts payable, related party [1],[3] 30,218 19,004
Loans, current portion [1] 20,310 15,062
Accrued expenses and other current liabilities [1] 65,439 64,005
Loans, net of debt issuance costs [1] 387,113 337,063
Other long-term liabilities [1] 20,262 20,430
Total liabilities of consolidated VIEs [1] 527,547 461,860
Related Party    
Accounts receivable 3,217 13,318
Accounts payable, related party 3,944 8,951
Primary Beneficiary    
Cash and cash equivalents 4,311 87
Government grants receivable [1] 6,158 1,842
Restricted cash - current 1,440 1,210
Prepaid expense and other current assets 193 131
Property, plant, and equipment, net 72,334 42,643
Restricted cash - non-current 3,020 2,700
Total assets of consolidated VIEs 88,904 48,651
Loans, current portion 2,310 2,457
Accrued expenses and other current liabilities 14,160 12,431
Loans, net of debt issuance costs 15,183 16,618
Other long-term liabilities 0 582
Total liabilities of consolidated VIEs 32,642 32,705
Primary Beneficiary | Related Party    
Accounts receivable 1,353 0
Accounts payable, related party 484 227
Primary Beneficiary | Nonrelated Party    
Accounts receivable 95 38
Accounts payable, related party $ 505 $ 390
Common Class A    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 31,993,327 30,633,161
Common stock, shares outstanding (in shares) 30,357,544 28,997,378
Class A common stock, in treasury, at cost (in shares) 1,635,783 1,635,783
Common Class B    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 121,500,000 121,500,000
Common stock, shares outstanding (in shares) 121,500,000 121,500,000
Common Class C    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 0 0
Common stock, shares outstanding (in shares) 0 0
Common Class D    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 22,899,037 22,899,037
Common stock, shares outstanding (in shares) 22,899,037 22,899,037
[1] Includes amounts related to consolidated VIEs, which are presented separately in the table below.
[2] Includes related‑party amounts of $3,217 and $13,318 as of September 30, 2026 and December 31, 2025, respectively.
[3] Includes related‑party amounts of $3,944 and $8,951 as of September 30, 2026 and December 31, 2025, respectively.