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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (92,396) $ (63,451)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,069 3,767
Stock-based compensation expense 8,705 7,699
Amortization of debt discount and debt issuance costs 5,367 1,473
Amortization of right-of-use asset 2,258 2,033
Change in fair value of common stock warrant liability 34,586 4,490
Change in fair value of derivative liability (7,311) 222
Loss on extinguishment of debt 6,360 0
Non-cash interest charges 1,071 1,097
Change in allowance for credit losses (171) 0
Changes in assets and liabilities:    
Accounts receivable, net (3,048) (2,539)
Prepaid expenses and other current assets (2,629) (1,431)
Other non-current assets (2,679) (1,436)
Accounts payable (919) (1,600)
Accrued expenses and other current liabilities 5,955 (2,869)
Operating lease liabilities (2,725) (2,380)
Other non-current liabilities 80 (38)
Net cash used in operating activities (43,427) (54,963)
Cash flows from investing activities    
Purchase of property and equipment (3,126) (4,025)
Net cash used in investing activities (3,126) (4,025)
Cash flows from financing activities    
Proceeds from IPO, net of offering costs 332,784 0
Proceeds from convertible notes offering, net of issuance costs 72,769 0
Proceeds from exercise of stock options 2,441 3,195
Repayment of principal under term loan (115,137) 0
Payments of exit, prepayment penalty and lender fees (6,764) (1,809)
Net cash provided by financing activities 286,093 1,386
Effect of foreign exchange rates 260 (504)
Net increase (decrease) in cash, cash equivalents and restricted cash 239,800 (58,106)
Balance, beginning of period 55,842 127,234
Balance, end of period 295,642 69,128
Supplemental disclosure of cash flow information:    
Cash paid (refunded) for taxes 89 (72)
Cash paid for interest 8,573 15,067
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable 7 59
Derecognition of derivative liability in connection with debt refinancing 0 1,125
Right-of-use asset obtained in exchange for lease obligation 561 0
Conversion of redeemable convertible preferred stock to common stock upon IPO 768,566 0
Conversion of convertible notes to common stock upon IPO 94,139 0
Conversion of term loan principal to convertible notes 23,000 0
Issuance of convertible notes to certain employees in lieu of cash compensation 1,353 0
Reclassification of term loan debt discount to convertible notes debt discount 239 0
Unpaid IPO offering costs included in accounts payable and accrued expenses and other current liabilities $ 447 $ 0