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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 80,210 $ 51,367
Accounts receivable, net 29,687 24,639
Restricted cash, current 0 150
Prepaid expenses and other current assets 8,545 6,132
Total current assets 118,442 82,288
Property and equipment, net 8,070 8,920
Operating lease right-of-use assets 17,894 18,805
Restricted cash, non-current 4,475 4,325
Other non-current assets 10,482 4,366
Total assets 159,363 118,704
Current liabilities:    
Accounts payable 1,786 2,870
Accrued expenses and other current liabilities 25,664 25,319
Operating lease liabilities, current 5,492 5,416
Total current liabilities 32,942 33,605
Convertible notes 68,336 0
Term loan 114,087 136,431
Common stock warrant liability 23,304 20,835
Derivative liability 29,407 0
Operating lease liabilities, non-current 17,235 18,537
Other non-current liabilities 281 214
Total liabilities 285,592 209,622
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock issuable in series, $0.001 par value; 122,231,454 shares authorized, issued and outstanding as of June 30, 2025 and December 31, 2024; aggregate liquidation value of $951,917 as of June 30, 2025 and December 31, 2024 768,566 768,566
Stockholders’ deficit:    
Common stock, $0.001 par value; 210,300,000 shares authorized as of June 30, 2025 and December 31, 2024; 6,389,444 and 6,122,048 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 6 6
Additional paid-in capital 118,416 112,241
Accumulated other comprehensive loss (717) (772)
Accumulated deficit (1,012,500) (970,959)
Total stockholders’ deficit (894,795) (859,484)
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 159,363 $ 118,704