v3.25.4
INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:      
Net operating loss carryforwards $ 123,892 $ 77,430 $ 67,755
Tax credits 27,973 15,056 9,231
Accruals and reserves 3,999 9,069 4,891
Stock-based expense 11,868 7,706 15,013
Start-up costs and amortized costs 15,910 12,142 12,750
IRC § 174 capitalized costs 118,269 86,847 45,979
Unrealized gains/losses 0 176 71
Sale of future revenues 14,833 0 0
Operating lease right-of-use asset, net 79 85 44
Total deferred tax assets 316,823 208,511 155,734
Valuation allowance (316,823) (208,511) (155,734)
Net deferred tax assets 0 0 0
Deferred tax liabilities:      
Total deferred tax liabilities 0 0 0
Total deferred tax assets, net $ 0 $ 0 $ 0