Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Flight services $ 15 $ 28 $ 15 $ 53
Operating expenses:        
Flight services 10 15 10 30
Research and development (including related party purchases of $442 and $325 for the three months ended June 30, 2025 and 2024, respectively, $723 and $548 for the six months ended June 30, 2025 and 2024, respectively.) 136,387 112,996 270,674 228,632
Selling, general and administrative (including related party purchases of $60 and $49 for the three months ended June 30, 2025 and 2024, respectively, $102 and $85 for the six months ended June 30, 2025 and 2024, respectively.) 31,482 31,304 60,479 61,575
Total operating expenses 167,879 144,315 331,163 290,237
Loss from operations (167,864) (144,287) (331,148) (290,184)
Interest and other income, net 9,849 11,191 19,747 23,510
Loss on common stock issuance in private placement (40,258) 0 (40,258) 0
Gain (Loss) from change in fair value of warrants and earnout shares (126,295) 9,814 (55,275) 48,841
Total other income (loss), net (156,704) 21,005 (75,786) 72,351
Loss before income taxes (324,568) (123,282) (406,934) (217,833)
Income tax expense 106 10 146 46
Net loss $ (324,674) $ (123,292) $ (407,080) $ (217,879)
Net loss per share, basic (in dollars per share) $ (0.41) $ (0.18) $ (0.52) $ (0.32)
Net loss per share, diluted (in dollars per share) $ (0.41) $ (0.18) $ (0.52) $ (0.32)
Weighted-average shares outstanding, basic (in shares) 796,798,437 689,324,227 781,936,215 685,536,805
Weighted-average common stock outstanding, diluted (in shares) 796,798,437 689,324,227 781,936,215 685,536,805