v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss before income tax $ (1,673,427) $ (164,644)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization, and accretion 62,387 81,623
Impairment and other charges 1,512,217 0
Non-cash income (2,482) (2,543)
Deferred taxes (4,306) (10,580)
Change in fair value of Earnout Shares liability and Warrant liability (72,391) 25,656
Change in Tax Receivable Agreement liability (21,317) 0
Share-based compensation expense 46,434 33,666
Changes in operating assets and liabilities:    
Accounts receivable, net 0 58
Interest receivable 3,430 (989)
Prepaid expenses and other current assets (2,722) 47
Other long-term assets 265 (625)
Accounts payable (1,655) 2,475
Accrued liabilities (4,154) 4,024
Due to related parties 36,937 183
Net cash used in operating activities (120,784) (31,649)
Cash flows from investing activities:    
Purchases of available-for-sale securities (186,016) (169,894)
Maturities of available-for-sale securities 111,648 71,075
Maturities of short-term investments 100,000 0
Purchase of property, plant and equipment (33,214) (68,651)
Capitalized software (1,223) (1,203)
Net cash used in investing activities (8,805) (168,673)
Cash flows from financing activities:    
Issuance of Class A Common Stock under share-based compensation plans 141 0
Payment of tax withholdings on vested share-based payment awards (172) (130)
Exercise of Warrants 0 19
Payments on finance lease obligations (199) (67)
Tax-related partnership distribution 0 (4,751)
Net cash used in financing activities (230) (4,929)
Net decrease in cash, cash equivalents, and restricted cash (129,819) (205,251)
Cash, cash equivalents, and restricted cash, beginning of period 331,676 536,927
Cash, cash equivalents, and restricted cash, end of period 201,857 331,676
Supplemental cash flow information:    
Cash paid for interest 29 0
Cash paid for income taxes 1 0
Supplemental non-cash investing and financing activities:    
Change in accruals for capital expenditures (1,875) (1,320)
Operating lease right-of use asset acquired 1,591 959
Finance lease right-of-use asset acquired 0 349
Revision of estimated asset retirement obligation 0 996
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet:    
Cash and cash equivalents 199,430 329,230
Restricted cash 2,427 2,446
Total cash, cash equivalents, and restricted cash $ 201,857 $ 331,676