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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 79,551 $ 45,098
Marketable securities 834,750 104,215
Accounts receivable, net 38,811 8,335
Inventory 43,215 24,095
Prepaid expenses and other current assets 16,652 4,064
Total current assets 1,012,979 185,807
Property and equipment, net 35,651 4,712
Other assets 5,878 5,773
Total assets 1,054,508 196,292
Current liabilities    
Accounts payable 26,918 6,337
Accrued expenses and other current liabilities 59,624 28,742
Total current liabilities 86,542 35,079
Other liabilities 3,167 3,787
Total liabilities 89,709 38,866
Commitments and contingencies (Note 6)
Redeemable convertible preferred stock, $0.0001 par value; 0 and 91,131 shares authorized as of December 31, 2024 and 2023, respectively; 0 and 90,891 shares issued and outstanding as of December 31, 2024 and 2023, respectively; liquidation preference of $0 and $265,699 as of December 31, 2024 and 2023, respectively 0 255,127
Stockholders’ equity (deficit)    
Common stock, $0.0001 par value; 1,000,000 and 162,641 shares authorized as of December 31, 2024 and 2023, respectively; 162,018 and 42,046 shares issued and outstanding as of December 31, 2024 and 2023, respectively 16 4
Additional paid-in capital 1,173,153 27,411
Accumulated other comprehensive income 426 259
Accumulated deficit (208,796) (125,375)
Total stockholders’ equity (deficit) 964,799 (97,701)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $ 1,054,508 $ 196,292