Balance Sheet Components (Tables)
|
12 Months Ended |
Dec. 31, 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):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
| Equipment |
$ |
126,874 |
|
|
$ |
103,694 |
|
| Molds and tooling |
33,077 |
|
|
22,409 |
|
| Buildings |
23,801 |
|
|
22,186 |
|
| Leasehold improvements |
22,831 |
|
|
20,569 |
|
| Computer software |
20,017 |
|
|
18,072 |
|
| Land |
6,270 |
|
|
6,270 |
|
| Vehicles and aircraft |
3,509 |
|
|
2,486 |
|
| Furniture and fixtures |
2,364 |
|
|
1,110 |
|
| Construction in-progress |
36,977 |
|
|
19,583 |
|
| Gross property and equipment |
275,720 |
|
|
216,379 |
|
| Accumulated depreciation and amortization |
(129,149) |
|
|
(95,425) |
|
| Property and equipment, net |
$ |
146,571 |
|
|
$ |
120,954 |
|
|
| Schedule of Intangible Assets |
The intangible assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
| Developed technology |
$ |
13,100 |
|
|
$ |
6,900 |
|
| Exclusive rights to air transportation services |
8,800 |
|
|
— |
|
| Automation platform software |
— |
|
|
7,200 |
|
| System simulation software technology |
— |
|
|
4,600 |
|
| Other intangibles |
2,500 |
|
|
1,485 |
|
| Gross intangible assets |
24,400 |
|
|
20,185 |
|
| Accumulated amortization |
(5,541) |
|
|
(12,058) |
|
| Intangible assets, net |
$ |
18,859 |
|
|
$ |
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 (in thousands):
|
|
|
|
|
|
| Fiscal Year |
December 31, 2025 |
| 2026 |
$ |
7,447 |
|
| 2027 |
4,641 |
|
| 2028 |
880 |
|
| 2029 |
880 |
|
| 2030 and thereafter |
5,011 |
|
|
$ |
18,859 |
|
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
| Prepaid equipment |
$ |
2,278 |
|
|
$ |
3,998 |
|
| Prepaid software |
9,263 |
|
|
7,794 |
|
| Prepaid taxes |
3,175 |
|
|
3,183 |
|
| Prepaid insurance |
6,151 |
|
|
3,565 |
|
| Prepaid operators |
4,218 |
|
|
— |
|
| Other |
5,394 |
|
|
2,170 |
|
| Total |
$ |
30,479 |
|
|
$ |
20,710 |
|
|
| Schedule of Other Non-Current Assets |
Other non-current assets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
| Contractual agreement asset |
$ |
59,611 |
|
|
$ |
59,611 |
|
| Long-term prepaid insurance |
431 |
|
|
625 |
|
| Other non-current assets |
1,891 |
|
|
770 |
|
| Total |
$ |
61,933 |
|
|
$ |
61,006 |
|
|
| Schedule of Accrued and Other Current Liabilities |
Accrued and other current liabilities consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
| Vendor related accruals |
$ |
26,589 |
|
|
$ |
20,026 |
|
| Payroll accruals |
5,227 |
|
|
5,112 |
|
| Contract liabilities under contracts with customers |
7,003 |
|
|
5,161 |
|
| Short-term finance lease liability |
2,254 |
|
|
2,579 |
|
| ESPP accrual |
2,062 |
|
|
1,507 |
|
| Deferred research and development credits |
— |
|
|
1,712 |
|
| Other accruals and current liabilities |
4,883 |
|
|
2,745 |
|
| Total |
$ |
48,018 |
|
|
$ |
38,842 |
|
|
| Other Noncurrent Liabilities |
Other non-current liabilities consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
| Indemnity Holdback liability (Note 4) |
$ |
10,000 |
|
|
$ |
— |
|
| EBITDA Earnout liability (Note 4) |
13,424 |
|
|
— |
|
| Finance lease liabilities |
7,447 |
|
|
3,859 |
|
| Retention Earnout liability (Note 4) |
4,006 |
|
|
— |
|
| Other non-current liabilities |
2,716 |
|
|
105 |
|
| Total |
$ |
37,593 |
|
|
$ |
3,964 |
|
|
| Schedule of Goodwill |
The changes in the carrying value of Goodwill are as follows:
|
|
|
|
|
|
|
Goodwill |
| Balance—December 31, 2023 |
$ |
14,011 |
|
| Additions associated with acquisitions |
311 |
|
| Balance—December 31, 2024 |
$ |
14,322 |
|
Additions associated with acquisitions
|
75,100 |
|
| Balance—December 31, 2025 |
$ |
89,422 |
|
|