v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ (19,497) $ 2,965
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 5,484 3,723
Stock-based compensation 12,910 7,728
Change in fair value of earn-out liabilities   (6,580)
Change in fair value of derivative warrant liabilities (24,095) (32,705)
Accretion of available-for-sale securities (2,122) (3,396)
Non-cash lease expense 903 776
Changes in operating assets and liabilities:    
Accounts receivable (1,314) 674
Prepaid expenses, other current assets and other assets (9,846) (836)
Deferred revenue 2,469 5
Accounts payable 2,649 618
Accrued expenses and operating lease liabilities 466 (2,792)
Net cash used in operating activities (31,993) (29,820)
Cash flows from investing activities:    
Purchases of property and equipment (16,404) (8,214)
Purchases of available-for-sale securities (189,605) (438,518)
Maturities of available-for-sale securities 221,000 77,000
Net cash provided by (used in) investing activities 14,991 (369,732)
Cash flows from financing activities:    
Proceeds from sale of common stock through At-The-Market (ATM) Offerings   346,719
Proceeds from sale of common stock from Quanta private placement transaction   35,000
Payments of offering costs   (798)
Net proceeds from tax withholdings on sell-to-cover equity award transactions   6,272
Proceeds from issuance of common stock upon exercise of stock options 381 1,443
Proceeds from issuance of common stock upon exercise of warrants 98 459
Net cash provided by financing activities 479 389,095
Effects of exchange rate changes on cash and cash equivalents (565) (34)
Net decrease in cash and cash equivalents (17,088) (10,491)
Cash and cash equivalents - beginning of period 44,851 67,674
Cash and cash equivalents - end of period 27,763 57,183
Non-cash investing and financing activities:    
Purchases of property and equipment recorded in accounts payable 10,118 417
Purchases of property and equipment recorded in accrued expenses   11
Non-cash addition to operating lease right-of-use asset and liability 1,421  
Reclassification of earn-out liabilities to additional paid-in capital for vesting of Promote Sponsor Vesting Shares   32,946
Reclassification of derivative liabilities to additional paid-in capital due to exercise of Public Warrants 92 274
Purchases of deferred offering costs in accounts payable   90
Unrealized (loss) gain on short term investments $ (2,176) $ 57