v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 325,927 $ 198,456
Accounts receivable, net 64,363 56,048
Inventories 139,634 116,347
Prepaid expenses and other current assets 34,049 23,173
Total current assets 563,973 394,024
Property, plant and equipment, net 85,138 64,777
Operating lease right-of-use assets 30,152 17,298
Finance lease right-of-use assets 5,713 6,173
Goodwill 1,065,211 1,034,543
Intangible assets, net 899,323 898,417
Other assets, net 3,497 1,162
Total assets 2,653,007 2,416,394
Current liabilities:    
Accrued expenses and other current liabilities 47,212 30,450
Deferred revenue 1,879 1,842
Total current liabilities 175,118 62,488
Long-term debt, net 669,122 667,774
Operating lease liabilities, net of current portion 27,860 15,540
Finance lease liabilities, net of current portion 5,694 6,013
Deferred income taxes 80,410 152,203
Founders advisory fees payable - related party 440,697 240,083
Other non-current liabilities 3,590 2,226
Total liabilities 1,519,688 1,259,124
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.0001 par value per share, 4,000,000,000 shares authorized; 174,818,216 and 169,426,114 shares issued; 149,440,060 and 147,822,633 shares outstanding at December 31, 2025 and 2024, respectively 17 17
Treasury stock, at cost; 25,378,156 and 21,603,481 shares at December 31, 2025 and 2024, respectively (168,197) (127,827)
Additional paid-in capital 2,100,958 1,911,035
Accumulated other comprehensive loss (6,370) (39,232)
Accumulated deficit (793,089) (586,723)
Total stockholders’ equity 1,133,319 1,157,270
Total liabilities and stockholders’ equity 2,653,007 2,416,394
Nonrelated Party    
Current liabilities:    
Accounts payable 30,301 23,519
Preferred stock 115,904 109,966
Related Party    
Current liabilities:    
Accounts payable 95,726 6,677
Preferred stock 1,293 2,831
Customer lists    
Current assets:    
Intangible assets, net 628,189 637,745
Technology and patents    
Current assets:    
Intangible assets, net 184,804 173,307
Tradenames, net    
Current assets:    
Intangible assets, net $ 86,330 $ 87,365