v3.26.3
Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity (unaudited) - USD ($)
$ in Thousands
Total
Previously Reported
Revision of Prior Period, Adjustment
Common Stock
Common Stock
Previously Reported
Common Stock
Revision of Prior Period, Adjustment
Additional Paid-in Capital
Additional Paid-in Capital
Previously Reported
Additional Paid-in Capital
Revision of Prior Period, Adjustment
Treasury Stock
Treasury Stock
Previously Reported
Treasury Stock
Revision of Prior Period, Adjustment
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Previously Reported
Accumulated Other Comprehensive Income (Loss)
Revision of Prior Period, Adjustment
Accumulated Deficit
Accumulated Deficit
Previously Reported
Accumulated Deficit
Revision of Prior Period, Adjustment
Beginning balance (in shares) at Dec. 31, 2024 0 212,541,832 (212,541,832)                              
Beginning balance at Dec. 31, 2024 $ 0 $ 1,363,580 $ (1,363,580)                              
Ending balance (in shares) at Mar. 31, 2025 0                                  
Ending balance at Mar. 31, 2025 $ 0                                  
Beginning balance (in shares) at Dec. 31, 2024       67,861,240 25,973,713 41,887,527                        
Beginning balance at Dec. 31, 2024 308,563 $ (1,055,017) $ 1,363,580 $ 7 $ 3 $ 4 $ 1,438,835 $ 75,259 $ 1,363,576 $ (2,619) $ (2,619) $ 0 $ 102 $ 102 $ 0 $ (1,127,762) $ (1,127,762) $ 0
Increase (Decrease) in Stockholders' Equity                                    
Retirement of treasury stock 0           (2,619)     2,619                
Issuance of shares upon exercise of stock options (in shares)       2,424                            
Issuance of shares upon exercise of stock options 22           22                      
Stock-based compensation expense 2,276           2,276                      
Unrealized gain (loss) on available-for-sale securities (82)                       (82)          
Foreign currency translation adjustments 15                       15          
Net income (loss) (57,874)                             (57,874)    
Ending balance (in shares) at Mar. 31, 2025       67,863,664                            
Ending balance at Mar. 31, 2025 $ 252,920     $ 7     1,438,514     0     35     (1,185,636)    
Beginning balance (in shares) at Dec. 31, 2024 0 212,541,832 (212,541,832)                              
Beginning balance at Dec. 31, 2024 $ 0 $ 1,363,580 $ (1,363,580)                              
Ending balance (in shares) at Sep. 30, 2025 0                                  
Ending balance at Sep. 30, 2025 $ 0                                  
Beginning balance (in shares) at Dec. 31, 2024       67,861,240 25,973,713 41,887,527                        
Beginning balance at Dec. 31, 2024 308,563 $ (1,055,017) $ 1,363,580 $ 7 $ 3 $ 4 1,438,835 75,259 1,363,576 (2,619) $ (2,619) $ 0 102 102 0 (1,127,762) (1,127,762) 0
Increase (Decrease) in Stockholders' Equity                                    
Unrealized gain (loss) on available-for-sale securities (69)                                  
Foreign currency translation adjustments 35                                  
Net income (loss) (181,074)                                  
Ending balance (in shares) at Sep. 30, 2025       67,907,597                            
Ending balance at Sep. 30, 2025 $ 135,690     $ 7     1,444,451     0     68     (1,308,836)    
Beginning balance (in shares) at Mar. 31, 2025 0                                  
Beginning balance at Mar. 31, 2025 $ 0                                  
Ending balance (in shares) at Jun. 30, 2025 0                                  
Ending balance at Jun. 30, 2025 $ 0                                  
Beginning balance (in shares) at Mar. 31, 2025       67,863,664                            
Beginning balance at Mar. 31, 2025 252,920     $ 7     1,438,514     0     35     (1,185,636)    
Increase (Decrease) in Stockholders' Equity                                    
Issuance of shares upon exercise of stock options (in shares)       16,770                            
Issuance of shares upon exercise of stock options 82           82                      
Stock-based compensation expense 2,738           2,738                      
Unrealized gain (loss) on available-for-sale securities (5)                       (5)          
Foreign currency translation adjustments 49                       49          
Net income (loss) (58,731)                             (58,731)    
Ending balance (in shares) at Jun. 30, 2025       67,880,434                            
Ending balance at Jun. 30, 2025 $ 197,053     $ 7     1,441,334     0     79     (1,244,367)    
Ending balance (in shares) at Sep. 30, 2025 0                                  
Ending balance at Sep. 30, 2025 $ 0                                  
Increase (Decrease) in Stockholders' Equity                                    
Issuance of shares upon exercise of stock options (in shares)       27,163                            
Issuance of shares upon exercise of stock options 286           286                      
Stock-based compensation expense 2,831           2,831                      
Unrealized gain (loss) on available-for-sale securities 18                       18          
Foreign currency translation adjustments (29)                       (29)          
Net income (loss) (64,469)                             (64,469)    
Ending balance (in shares) at Sep. 30, 2025       67,907,597                            
Ending balance at Sep. 30, 2025 $ 135,690     $ 7     1,444,451     $ 0     68     (1,308,836)    
Beginning balance (in shares) at Dec. 31, 2025 0 212,541,832 (212,541,832)                              
Beginning balance at Dec. 31, 2025 $ 0 $ 1,363,580 $ (1,363,580)                              
Ending balance (in shares) at Mar. 31, 2026 0                                  
Ending balance at Mar. 31, 2026 $ 0                                  
Beginning balance (in shares) at Dec. 31, 2025 67,944,192     67,944,192 26,267,598 41,676,594                        
Beginning balance at Dec. 31, 2025 $ 100,444 $ (1,263,136) $ 1,363,580 $ 7 $ 3 $ 4 1,447,410 83,834 1,363,576       132 132 0 (1,347,105) (1,347,105) 0
Increase (Decrease) in Stockholders' Equity                                    
Stock-based compensation expense 2,903           2,903                      
Unrealized gain (loss) on available-for-sale securities (87)                       (87)          
Foreign currency translation adjustments (19)                       (19)          
Net income (loss) (63,559)                             (63,559)    
Ending balance (in shares) at Mar. 31, 2026       67,944,192                            
Ending balance at Mar. 31, 2026 $ 39,682     $ 7     1,450,313           26     (1,410,664)    
Beginning balance (in shares) at Dec. 31, 2025 0 212,541,832 (212,541,832)                              
Beginning balance at Dec. 31, 2025 $ 0 $ 1,363,580 $ (1,363,580)                              
Ending balance (in shares) at Sep. 30, 2026 0                                  
Ending balance at Sep. 30, 2026 $ 0                                  
Beginning balance (in shares) at Dec. 31, 2025 67,944,192     67,944,192 26,267,598 41,676,594                        
Beginning balance at Dec. 31, 2025 $ 100,444 $ (1,263,136) $ 1,363,580 $ 7 $ 3 $ 4 1,447,410 $ 83,834 $ 1,363,576       132 $ 132 $ 0 (1,347,105) $ (1,347,105) $ 0
Increase (Decrease) in Stockholders' Equity                                    
Unrealized gain (loss) on available-for-sale securities (475)                                  
Foreign currency translation adjustments (19)                                  
Net income (loss) $ (72,478)                                  
Ending balance (in shares) at Sep. 30, 2026 110,870,300     110,870,300                            
Ending balance at Sep. 30, 2026 $ 481,329     $ 11     1,901,263           (362)     (1,419,583)    
Beginning balance (in shares) at Mar. 31, 2026 0                                  
Beginning balance at Mar. 31, 2026 $ 0                                  
Ending balance (in shares) at Jun. 30, 2026 0                                  
Ending balance at Jun. 30, 2026 $ 0                                  
Beginning balance (in shares) at Mar. 31, 2026       67,944,192                            
Beginning balance at Mar. 31, 2026 39,682     $ 7     1,450,313           26     (1,410,664)    
Increase (Decrease) in Stockholders' Equity                                    
Stock-based compensation expense 2,734           2,734                      
Unrealized gain (loss) on available-for-sale securities 2                       2          
Net income (loss) (69,029)                             (69,029)    
Ending balance (in shares) at Jun. 30, 2026       67,944,192                            
Ending balance at Jun. 30, 2026 $ (26,611)     $ 7     1,453,047           28     (1,479,693)    
Ending balance (in shares) at Sep. 30, 2026 0                                  
Ending balance at Sep. 30, 2026 $ 0                                  
Increase (Decrease) in Stockholders' Equity                                    
Exercise of penny warrants (in shares)       121,237                            
Vesting of restricted stock units, net of shares withheld for taxes (in shares) 58,672     58,672                            
Vesting of restricted stock units, net of shares withheld for taxes $ (1,096)           (1,096)                      
Stock-based compensation expense 41,944           41,944                      
Unrealized gain (loss) on available-for-sale securities (390)                       (390)          
Foreign currency translation adjustments 0                                  
Issuance of common stock upon Business Combination to PCSC public shareholders and Sponsor, net of transaction costs (in shares)       8,920,769                            
Issuance of common stock upon Business Combination to PCSC public shareholders and Sponsor, net of transaction costs 64,864     $ 1     64,863                      
Issuance of common stock upon PIPE Financing, net of transaction costs (in shares)       24,000,000                            
Issuance of common stock upon PIPE Financing, net of transaction costs 220,112     $ 2     220,110                      
Issuance of common stock upon conversion of convertible notes (in shares)       9,825,430                            
Issuance of common stock upon conversion of convertible notes 122,396     $ 1     122,395                      
Net income (loss) $ 60,110                             60,110    
Ending balance (in shares) at Sep. 30, 2026 110,870,300     110,870,300                            
Ending balance at Sep. 30, 2026 $ 481,329     $ 11     $ 1,901,263           $ (362)     $ (1,419,583)    
Beginning balance (in shares) at Jul. 19, 2026 212,541,832                                  
Beginning balance at Jul. 19, 2026 $ 1,400,000                                  
Increase (Decrease) in Stockholders' Equity                                    
Issuance of common stock upon PIPE Financing, net of transaction costs (in shares) 32,920,769                                  
Ending balance (in shares) at Jul. 20, 2026 107,446,814