v3.26.3
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 180,379 $ 78,558
Marketable securities 249,593 138,106
Accounts receivable (includes $8,000 accounts receivable from a related party as of September 30, 2026) 8,821 1,307
Inventory 1,885 0
Prepaid expenses and other current assets 20,307 8,520
Total current assets 460,985 226,491
Property and equipment, net 154,537 155,776
Operating lease right-of-use assets, net 95,171 97,055
Intangible assets, net 2,486 3,300
Goodwill 10,513 10,513
Other long-term assets 279 4,800
Restricted cash 9,560 9,118
Total assets 733,531 507,053
Current liabilities:    
Accounts payable 8,279 6,084
Accrued compensation and other related benefits 12,466 13,424
Accrued expenses and other current liabilities (includes $1,200 due to a related party as of September 30, 2026) 3,689 3,783
Deferred revenue, current 0 7,123
Current portion of lease liabilities 11,765 10,114
Total current liabilities 36,199 40,528
Long-term liabilities:    
Lease liabilities, net of current portion 189,894 199,015
Deferred revenue, non-current, related party (includes $24,594 due to a related party as of September 30, 2026) 24,594 49,138
Other long-term liabilities (includes $1,140 due to a related party as of September 30, 2026) 1,515 15,433
Total liabilities 252,202 406,609
Commitments and contingencies (Note 13)
Stockholders’ Equity:    
Preferred stock, $0.0001 par value – 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value – 1,000,000,000 shares authorized; 110,870,300 and 67,944,192 shares issued and outstanding as of September 30, 2026, and December 31, 2025, respectively. 11 7
Additional paid-in capital 1,901,263 1,447,410
Accumulated other comprehensive income (loss) (362) 132
Accumulated deficit (1,419,583) (1,347,105)
Total stockholders’ equity 481,329 100,444
Total liabilities and stockholders’ equity 733,531 507,053
Nonrelated Party    
Long-term liabilities:    
Convertible note 0 41,600
Related Party    
Current assets:    
Accounts receivable (includes $8,000 accounts receivable from a related party as of September 30, 2026) 8,000  
Current liabilities:    
Accrued expenses and other current liabilities (includes $1,200 due to a related party as of September 30, 2026) 1,200  
Long-term liabilities:    
Convertible note 0 $ 60,895
Deferred revenue, non-current, related party (includes $24,594 due to a related party as of September 30, 2026) 24,594  
Other long-term liabilities (includes $1,140 due to a related party as of September 30, 2026) $ 1,140