XML 35 R25.htm IDEA: XBRL DOCUMENT v3.25.3
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents and restricted cash within the condensed consolidated balance sheets that sum to the total of the same on the condensed consolidated statement of cash flows (in thousands):
September 30, 2025December 31, 2024
Cash and cash equivalents$274,150 $161,435 
Restricted cash6,148 6,137 
Total cash, cash equivalents and restricted cash$280,298 $167,572 
Schedule of Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents and restricted cash within the condensed consolidated balance sheets that sum to the total of the same on the condensed consolidated statement of cash flows (in thousands):
September 30, 2025December 31, 2024
Cash and cash equivalents$274,150 $161,435 
Restricted cash6,148 6,137 
Total cash, cash equivalents and restricted cash$280,298 $167,572 
Schedule of Earnings Per Share, Basic and Diluted
The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except shares and per share data):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Numerator:
Net income (loss) from continuing operations$(18,866)$(54,684)$161,596 $(136,846)
Less: net (income) loss attributable to non-controlling interest
— 425 1 1,454 
Net income (loss) from continuing operations available to common shareholders(18,866)(54,259)161,597 (135,392)
Net income (loss) from discontinued operations, net of tax— 1,836 — 1,687 
Net income (loss) attributable to common shareholders - basic$(18,866)$(52,423)$161,597 $(133,705)
Add: Dilutive effect of convertible notes, net (1)
— — 8,376 — 
Net income (loss) attributable to common shareholders - diluted
$(18,866)$(52,423)$169,973 $(133,705)
Denominator:
Weighted-average common shares outstanding - basic342,504,107 331,582,813 341,752,619 314,126,997 
Convertible notes— — 46,266,486 — 
Common stock options and restricted stock units
— — 16,633,110 — 
Weighted-average common shares outstanding - diluted342,504,107 331,582,813 404,652,215 314,126,997 
Net income (loss) per share - basic
Continuing operations$(0.06)$(0.17)$0.47 $(0.44)
Discontinued operations$— $0.01 $— $0.01 
Total net income (loss) per share - basic$(0.06)$(0.16)$0.47 $(0.43)
Net income (loss) per share - diluted
Continuing operations$(0.06)$(0.17)$0.42 $(0.44)
Discontinued operations$— $0.01 $— $0.01 
Total net income (loss) per share - diluted$(0.06)$(0.16)$0.42 $(0.43)
(1) Reflects interest expense incurred, net of tax, associated with convertible note activity during the period as evaluated under the if-converted method.
Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share
The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Warrants to purchase common stock— 166,670 — 166,670 
Stock options16,491,907 18,846,277 14,964,036 18,846,277 
Unvested restricted stock units32,604,690 22,284,523 1,676,126 22,284,523 
Convertible notes variable settlement feature48,771,938 48,771,938 2,505,452 48,771,938 
Total97,868,535 90,069,408 19,145,614 90,069,408