Balance Sheet Components (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| 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,
2026 |
|
December 31,
2025 |
| Equipment |
$ |
151,121 |
|
|
$ |
126,874 |
|
| Buildings |
104,964 |
|
|
23,801 |
|
| Molds and tooling |
36,758 |
|
|
33,077 |
|
| Leasehold and other improvements |
31,589 |
|
|
22,831 |
|
| Computer software |
21,840 |
|
|
20,017 |
|
| Vehicles and aircraft |
12,102 |
|
|
3,509 |
|
| Land |
11,158 |
|
|
6,270 |
|
| Furniture and fixtures |
2,612 |
|
|
2,364 |
|
| Construction in-progress |
27,493 |
|
|
36,977 |
|
| Gross property and equipment |
399,637 |
|
|
275,720 |
|
| Accumulated depreciation and amortization |
(158,102) |
|
|
(129,149) |
|
| Property and equipment, net |
$ |
241,535 |
|
|
$ |
146,571 |
|
|
| Schedule of Intangible Assets |
The intangible assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2026 |
|
December 31,
2025 |
| Developed technology |
$ |
13,100 |
|
|
$ |
13,100 |
|
| Exclusive rights to air transportation services |
8,800 |
|
|
8,800 |
|
| Lease in-place |
3,509 |
|
|
— |
|
| Other intangibles |
2,500 |
|
|
2,500 |
|
| Gross intangible assets |
27,909 |
|
|
24,400 |
|
| Accumulated amortization |
(11,594) |
|
|
(5,541) |
|
| Intangible assets, net |
$ |
16,315 |
|
|
$ |
18,859 |
|
|
| 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, 2026 (in thousands):
|
|
|
|
|
|
| Fiscal Year |
Amount |
2026 (remainder) |
$ |
2,037 |
|
| 2027 |
5,343 |
|
| 2028 |
1,582 |
|
| 2029 |
1,582 |
|
| 2030 and thereafter |
5,771 |
|
|
$ |
16,315 |
|
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2026 |
|
December 31,
2025 |
| Prepaid software |
$ |
9,383 |
|
|
$ |
9,263 |
|
| Prepaid equipment |
9,024 |
|
|
2,278 |
|
| Prepaid taxes |
7,782 |
|
|
3,175 |
|
| Prepaid insurance |
1,956 |
|
|
6,151 |
|
| Prepaid operators |
1,464 |
|
|
4,218 |
|
| Other |
6,932 |
|
|
5,394 |
|
| Total |
$ |
36,541 |
|
|
$ |
30,479 |
|
|
| Schedule of Other Noncurrent Assets |
Other non-current assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2026 |
|
December 31,
2025 |
| Contractual agreement asset |
$ |
59,611 |
|
|
$ |
59,611 |
|
| Other non-current assets |
5,426 |
|
|
2,322 |
|
| Total |
$ |
65,037 |
|
|
$ |
61,933 |
|
|
| Schedule of Accrued and Other Liabilities |
Accrued and other current liabilities consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2026 |
|
December 31,
2025 |
| Vendor related accruals |
$ |
44,722 |
|
|
$ |
26,589 |
|
| Retention Earnout liability (Note 4) |
12,756 |
|
|
— |
|
| Payroll accruals |
11,865 |
|
|
5,227 |
|
Indemnity Holdback liability (Note 4) |
10,000 |
|
|
— |
|
| ESPP accrual |
7,237 |
|
|
2,062 |
|
| Contract liabilities under contracts with customers |
6,419 |
|
|
7,003 |
|
| Short-term finance lease liability |
3,784 |
|
|
2,254 |
| Accrued flight costs |
1,979 |
|
|
142 |
| Other accruals and current liabilities |
10,067 |
|
|
4,741 |
|
| Total |
$ |
108,829 |
|
|
$ |
48,018 |
|
|
| Schedule of Other Noncurrent Liabilities |
Other non-current liabilities consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2026 |
|
December 31,
2025 |
| Finance lease liabilities |
$ |
10,040 |
|
|
$ |
7,447 |
|
EBITDA Earnout liability (Note 4) |
— |
|
|
13,424 |
|
Indemnity Holdback liability (Note 4) |
— |
|
|
10,000 |
|
Retention Earnout liability (Note 4) |
— |
|
|
4,006 |
|
| Grant liabilities |
12,056 |
|
|
1,575 |
|
| Other non-current liabilities |
1,387 |
|
|
1,141 |
| Total |
$ |
23,483 |
|
|
$ |
37,593 |
|
|