Balance Sheet Components (Tables)
|
9 Months Ended |
Sep. 30, 2025 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Summary of Property, Plant and Equipment |
Property and equipment, net consists of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2025 |
|
December 31,
2024 |
| Equipment |
$ |
121,241 |
|
|
$ |
103,694 |
|
| Molds and tooling |
31,634 |
|
|
22,409 |
|
| Buildings |
22,202 |
|
|
22,186 |
|
| Leasehold improvements |
22,811 |
|
|
20,569 |
|
| Computer software |
18,795 |
|
|
18,072 |
|
| Land |
6,270 |
|
|
6,270 |
|
| Vehicles and aircraft |
3,357 |
|
|
2,486 |
|
| Furniture and fixtures |
2,290 |
|
|
1,110 |
|
| Construction in-progress |
32,076 |
|
|
19,583 |
|
| Gross property and equipment |
260,676 |
|
|
216,379 |
|
| Accumulated depreciation and amortization |
(120,474) |
|
|
(95,425) |
|
| Property and equipment, net |
$ |
140,202 |
|
|
$ |
120,954 |
|
|
| Schedule of Intangible Assets |
The intangible assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2025 |
|
December 31,
2024 |
| Automation platform software |
$ |
7,200 |
|
|
$ |
7,200 |
|
| Exclusive rights to air transportation services |
8,800 |
|
|
4,600 |
|
| Developed technology |
13,100 |
|
|
6,900 |
|
| Other intangibles |
2,500 |
|
|
1,485 |
|
| Gross intangible assets |
31,600 |
|
|
20,185 |
|
| Accumulated amortization |
(10,614) |
|
|
(12,058) |
|
| Intangible assets, net |
$ |
20,986 |
|
|
$ |
8,127 |
|
|
| Schedule of Estimated Future Amortization Expense of Acquired Intangible Assets |
The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of September 30, 2025 (in thousands):
|
|
|
|
|
|
| Fiscal Year |
Amount |
2025 (remainder) |
$ |
2,838 |
|
| 2026 |
7,447 |
|
| 2027 |
4,024 |
|
| 2028 and thereafter |
6,677 |
|
|
$ |
20,986 |
|
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2025 |
|
December 31,
2024 |
| Prepaid equipment |
$ |
4,730 |
|
|
$ |
3,998 |
|
| Prepaid software |
5,606 |
|
|
7,794 |
|
| Prepaid taxes |
4,896 |
|
|
3,183 |
|
| Prepaid insurance |
4,202 |
|
|
3,565 |
|
| Prepaid operators |
4,094 |
|
|
— |
|
| Other |
6,171 |
|
|
2,170 |
|
| Total |
$ |
29,699 |
|
|
$ |
20,710 |
|
|
| Schedule of Other Noncurrent Assets |
Other non-current assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2025 |
|
December 31,
2024 |
| Contractual agreement asset |
$ |
59,611 |
|
|
$ |
59,611 |
|
| Other non-current assets |
2,226 |
|
|
1,395 |
|
| Total |
$ |
61,837 |
|
|
$ |
61,006 |
|
|
| Schedule of Accrued and Other Liabilities |
Accrued and other current liabilities consist of the following (in thousands):
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|
|
|
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|
|
|
|
|
|
September 30,
2025 |
|
December 31,
2024 |
| Vendor related accruals |
$ |
21,835 |
|
|
$ |
20,026 |
|
| Payroll accruals |
13,590 |
|
|
6,619 |
|
| Contract liabilities under contracts with customers |
5,977 |
|
|
5,161 |
|
| Deferred research and development credits |
— |
|
|
1,712 |
|
| Accrued costs of revenue |
2,946 |
|
|
— |
|
| Short-term finance lease liability |
2,146 |
|
|
2,578 |
| Other accruals and current liabilities |
6,475 |
|
|
2,746 |
|
| Total |
$ |
52,969 |
|
|
$ |
38,842 |
|
|
| Other Noncurrent Liabilities |
Other non-current liabilities consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2025 |
|
December 31,
2024 |
| Indemnity Holdback liability (Note 6) |
$ |
10,000 |
|
|
$ |
— |
|
| EBITDA Earnout liability (Note 6) |
7,631 |
|
|
— |
|
| Finance lease liabilities |
7,110 |
|
|
3,859 |
|
| Other non-current liabilities |
1,912 |
|
|
105 |
|
| Total |
$ |
26,653 |
|
|
$ |
3,964 |
|
|