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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows used in operating activities:    
Net loss $ (69,037) $ (23,496)
Adjustments to reconcile net loss for the period to net cash used in operating activities:    
Stock-based compensation 32,166 1,164
Depreciation and amortization 688 1,032
Asset retirement obligation adjustments and accretion (5,124) 666
(Gain) loss on sale of assets, net 114 (68)
Other non-cash items 181 (484)
Non-cash interest expense 0 6,076
Changes in operating assets and liabilities:    
Prepaids and deposits (144) (527)
Receivables 309 97
Contract liabilities 750 0
Supplies inventories, net (199) 30
Accounts payable, accrued expenses, and other liabilities (3,767) (3,208)
Net cash used in operating activities (44,063) (18,718)
Cash flows from investing activities:    
Additions to property, plant, and equipment (847) (397)
Proceeds from sale of assets 68 68
Proceeds from sale of equity investment securities 625 0
Net cash used in investing activities (154) (329)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 79,215 40,784
Taxes paid related to net share settlement of equity awards (4,197) 0
Principal payments 0 (25)
Net cash provided by financing activities 75,018 40,759
Net increase in cash, cash equivalents, and restricted cash 30,801 21,712
Cash, cash equivalents, and restricted cash, beginning of period 204,231 77,057
Cash, cash equivalents, and restricted cash, end of period 235,032 98,769
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 220,549 68,768
Restricted cash 14,483 30,001
Total cash, cash equivalents, and restricted cash $ 235,032 $ 98,769