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CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 53,374 $ 91,415
Short-term investments 119,858 93,594
Accounts receivable, net [1] 9,952 8,140
Inventory and other deferred costs 5,435 5,939
Prepaid expenses and other current assets 4,724 3,927
Total current assets 193,343 203,015
Property and equipment, net 45,812 48,274
Operating lease right-of-use assets 15,654 16,453
Other long-term assets 3,871 2,526
Total assets 258,680 270,268
Current liabilities    
Accounts payable [2] 9,926 6,397
Accrued and other current liabilities [2] 20,172 21,629
Contract liabilities 1,625 3,100
Total current liabilities 31,723 31,126
Long-term operating lease liabilities 33,390 34,882
Other long-term liabilities [3] 2,738 1,303
Total liabilities 67,851 67,311
Commitments and contingencies (Note 11)
Stockholders’ equity    
Preferred stock, $0.0001 par value — 10,000,000 shares authorized; none issued
Common stock, $0.0001 par value - 200,000,000 shares authorized; 88,649,766 and 85,171,146 shares issued and outstanding, respectively 9 9
Additional paid-in capital 776,596 752,961
Accumulated other comprehensive income (loss) 20 (23)
Accumulated deficit (585,796) (549,990)
Total stockholders’ equity 190,829 202,957
Total liabilities and stockholders’ equity $ 258,680 $ 270,268
[1] Includes related party accounts receivable of $1.9 million and $2.5 million as of June 30, 2025 and December 31, 2024, respectively.
[2] Includes related party liabilities of $3.7 million and $1.7 million as of June 30, 2025 and December 31, 2024, respectively.
[3] Includes related party liabilities of $1.1 million and $1.2 million as of June 30, 2025 and December 31, 2024, respectively.