Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 240,810 $ 199,627
Short-term investments 1,167,106 733,224
Total cash, cash equivalents and short-term investments 1,407,916 932,851
Restricted cash 220 0
Other receivables 7,139 16,044
Prepaid expenses and other current assets 30,479 20,710
Total current assets 1,445,754 969,605
Property and equipment, net 146,571 120,954
Operating lease right-of-use assets 31,837 28,689
Restricted cash 693 762
Intangible assets 18,859 8,127
Goodwill 89,422 14,322
Other non-current assets 61,933 61,006
Total assets 1,795,069 1,203,465
Current liabilities    
Accounts payable 3,604 4,261
Operating lease liabilities, current portion 8,404 5,031
Accrued expenses and other current liabilities 48,018 38,842
Total current liabilities 60,026 48,134
Operating lease liabilities, net of current portion 26,167 26,178
Warrant liability 104,878 95,410
Earnout shares liability 156,692 117,416
Total 37,593 3,964
Total liabilities 385,356 291,102
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock: $0.0001 par value - 100,000,000 shares authorized at December 31, 2025 and 2024. No shares issued and outstanding at December 31, 2025 and 2024. 0 0
Common stock: $0.0001 par value - 2,800,000,000 and 1,400,000,000 shares authorized at December 31, 2025 and 2024 respectively, 915,076,698 and 784,176,364 shares issued and outstanding at December 31, 2025 and 2024, respectively 91 78
Additional paid-in capital 4,193,684 2,768,605
Accumulated deficit (2,785,579) (1,855,737)
Accumulated other comprehensive income (loss) 1,517 (583)
Total stockholders’ equity 1,409,713 912,363
Total liabilities and stockholders’ equity $ 1,795,069 $ 1,203,465
Common stock, shares authorized (in shares) 2,800,000,000 1,400,000,000