Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 122,290 $ 199,627
Short-term investments 690,234 733,224
Total cash, cash equivalents and short-term investments 812,524 932,851
Other receivables 9,766 16,044
Prepaid expenses and other current assets 19,190 20,710
Total current assets 841,480 969,605
Property and equipment, net 129,776 120,954
Operating lease right-of-use assets 29,047 28,689
Restricted cash 762 762
Intangible assets 6,909 8,127
Goodwill 14,322 14,322
Other non-current assets 61,722 61,006
Total assets 1,084,018 1,203,465
Current liabilities:    
Accounts payable 4,859 4,261
Operating lease liabilities, current portion 5,444 5,031
Accrued and other current liabilities 37,196 38,842
Total current liabilities 47,499 48,134
Operating lease liabilities, net of current portion 26,175 26,178
Warrant liability 61,234 95,410
Earnout shares liability 80,631 117,416
Other liabilities, net of current portion 9,038 3,964
Total liabilities 224,577 291,102
Commitments and contingencies (Note 5)
Stockholders’ equity:    
Preferred stock: $0.0001 par value - 100,000,000 shares authorized. No shares issued and outstanding. 0 0
Common stock: $0.0001 par value - 1,400,000,000 shares authorized; 789,293,827 and 784,176,364 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively. 79 78
Additional paid-in capital 2,798,177 2,768,605
Accumulated deficit (1,938,143) (1,855,737)
Accumulated other comprehensive loss (672) (583)
Total stockholders’ equity 859,441 912,363
Total liabilities and stockholders’ equity $ 1,084,018 $ 1,203,465