v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 340,647 $ 198,456
Accounts receivable, net 106,688 56,048
Inventories 130,139 116,347
Prepaid expenses and other current assets 6,680 23,173
Total current assets 584,154 394,024
Property, plant and equipment, net 81,554 64,777
Operating lease right-of-use assets 31,281 17,298
Finance lease right-of-use assets 5,929 6,173
Goodwill 1,053,778 1,034,543
Intangible assets, net 888,214 898,417
Other assets, net 529 1,162
Total assets 2,645,439 2,416,394
Current liabilities:    
Accrued expenses and other current liabilities 71,875 30,450
Deferred revenue 9,647 1,842
Total current liabilities 263,646 62,488
Long-term debt, net 668,778 667,774
Operating lease liabilities, net of current portion 28,824 15,540
Finance lease liabilities, net of current portion 5,831 6,013
Deferred income taxes 95,750 152,203
Founders advisory fees payable - related party 352,455 240,083
Other non-current liabilities 2,710 2,226
Total liabilities 1,534,091 1,259,124
Commitments and contingencies (Note 9)
Stockholder’s equity:    
Common stock, $0.0001 par value per share, 4,000,000,000 shares authorized; 173,301,872 and 169,426,114 shares issued; 147,923,716 and 147,822,633 shares outstanding at September 30, 2025 and December 31, 2024, respectively 17 17
Treasury stock, at cost; 25,378,156 and 21,603,481 shares at September 30, 2025 and December 31, 2024, respectively (168,197) (127,827)
Additional paid-in capital 1,941,940 1,911,035
Accumulated other comprehensive loss (9,554) (39,232)
Accumulated deficit (652,858) (586,723)
Total stockholders’ equity 1,111,348 1,157,270
Total liabilities and stockholders’ equity 2,645,439 2,416,394
Nonrelated Party    
Current liabilities:    
Accounts payable 30,542 23,519
Preferred stock 113,416 109,966
Related Party    
Current liabilities:    
Accounts payable 151,582 6,677
Preferred stock 2,681 2,831
Customer lists, net    
Current assets:    
Intangible assets, net 620,636 637,745
Technology and patents, net    
Current assets:    
Intangible assets, net 183,112 173,307
Tradenames, net    
Current assets:    
Intangible assets, net $ 84,466 $ 87,365