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CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK, REDEEMABLE COMMON STOCK, AND STOCKHOLDERS EQUITY (DEFICIT) (Q2) - USD ($)
Total
Redeemable Convertible Preferred Stock
Redeemable Class A Common Stock
Issuance of Series B Redeemable Convertible Preferred Stock
Issuance of Series C Redeemable Convertible Preferred Stock
Common Stock
Common Stock
Redeemable Convertible Preferred Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021   83,775,000                  
Beginning balance at Dec. 31, 2021   $ 5,290,000                  
Ending balance (in shares) at Dec. 31, 2022   83,775,000                  
Ending balance at Dec. 31, 2022   $ 5,290,000                  
Beginning balance (in shares) at Dec. 31, 2021           180,000,000          
Beginning balance at Dec. 31, 2021 $ 13,018,000         $ 1,000   $ 0 $ 1,001,000 $ 0 $ 12,016,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Stock-based compensation expense 1,560,000               1,560,000    
Net loss (31,055,000)                   (31,055,000)
Ending balance (in shares) at Dec. 31, 2022           180,000,000          
Ending balance at Dec. 31, 2022 $ (10,606,000)         $ 1,000   0 8,588,000 (156,000) (19,039,000)
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Redeemable convertible preferred stock   $ 410,465,000                  
Conversion of redeemable convertible preferred stock in connection with initial public offering (in shares)   12,485,000                  
Conversion of redeemable convertible preferred stock in connection with initial public offering   $ (5,006,000)                  
Ending balance (in shares) at Dec. 31, 2023 154,678,000 154,678,000 0                
Ending balance at Dec. 31, 2023 $ 464,690,000 $ 464,690,000 [1] $ 0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock (in shares)           4,483,000          
Issuance of common stock 14,837,000               14,837,000    
Conversion of redeemable convertible preferred stock in connection with initial public offering (in shares)           17,078,000          
Conversion of redeemable convertible preferred stock in connection with initial public offering $ 1,842,000         $ 0     1,842,000    
Issuance of common stock and restricted stock awards for business combination (in shares)           2,105,000          
Exercise of stock options (in shares) 4,337,000         4,337,000          
Exercise of stock options $ 1,669,000               1,669,000    
Repurchase of common stock for business combination (in shares)           (4,483,000)          
Stock-based compensation expense 17,370,000               17,370,000    
Other comprehensive income (loss) 8,000                 8,000  
Net loss (593,748,000)                   (593,748,000)
Ending balance (in shares) at Dec. 31, 2023           203,520,000          
Ending balance at Dec. 31, 2023 (596,591,000)         $ 1,000   (32,054,000) 48,397,000 (148,000) (612,787,000)
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Redeemable convertible preferred stock (in shares)       4,483,000              
Redeemable convertible preferred stock       $ 25,000,000              
Closing settlement of Series B tranche option   $ 69,598,000                  
Ending balance (in shares) at Mar. 31, 2024   159,161,000 0                
Ending balance at Mar. 31, 2024   $ 559,288,000 $ 0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Exercise of stock options (in shares)           215,000          
Exercise of stock options 45,000               45,000    
Stock-based compensation expense 10,181,000               10,181,000    
Other comprehensive income (loss) 58,000                 58,000  
Net loss (129,248,000)                   (129,248,000)
Ending balance (in shares) at Mar. 31, 2024           203,735,000          
Ending balance at Mar. 31, 2024 $ (715,555,000)         $ 1,000   (32,054,000) 58,623,000 (90,000) (742,035,000)
Beginning balance (in shares) at Dec. 31, 2023 154,678,000 154,678,000 0                
Beginning balance at Dec. 31, 2023 $ 464,690,000 $ 464,690,000 [1] $ 0                
Ending balance (in shares) at Jun. 30, 2024   188,684,000 0                
Ending balance at Jun. 30, 2024   $ 1,722,360,000 $ 0                
Beginning balance (in shares) at Dec. 31, 2023           203,520,000          
Beginning balance at Dec. 31, 2023 (596,591,000)         $ 1,000   (32,054,000) 48,397,000 (148,000) (612,787,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net loss (452,269,000)                    
Ending balance (in shares) at Jun. 30, 2024           202,041,000          
Ending balance at Jun. 30, 2024 $ (1,043,940,000)         $ 1,000   (32,054,000) 53,232,000 (63,000) (1,065,056,000)
Beginning balance (in shares) at Dec. 31, 2023 154,678,000 154,678,000 0                
Beginning balance at Dec. 31, 2023 $ 464,690,000 $ 464,690,000 [1] $ 0                
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Redeemable convertible preferred stock   25,000,000                  
Closing settlement of Series B tranche option   69,598,000                  
Series C redeemable convertible preferred stock accretion to redemption value   $ 73,000                  
Ending balance (in shares) at Dec. 31, 2024 184,635,000 184,635,000 0                
Ending balance at Dec. 31, 2024 $ 1,722,111,000 $ 1,722,111,000 [1] $ 0 [1]                
Beginning balance (in shares) at Dec. 31, 2023           203,520,000          
Beginning balance at Dec. 31, 2023 (596,591,000)         $ 1,000   (32,054,000) 48,397,000 (148,000) (612,787,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Series C redeemable convertible preferred stock accretion to redemption value (73,000)               (73,000)    
Cash dividend on Series C redeemable convertible preferred stock (58,662,000)               (58,662,000)    
Conversion of redeemable convertible preferred stock in connection with initial public offering (in shares)           4,049,000          
Conversion of redeemable convertible preferred stock in connection with initial public offering $ 308,000               308,000    
Exercise of stock options (in shares) 2,872,000           2,879,000        
Exercise of stock options $ 2,890,000               2,890,000    
Stock-based compensation expense 38,587,000               38,587,000    
Other comprehensive income (loss) 148,000                 148,000  
Net loss (863,448,000)                   (863,448,000)
Ending balance (in shares) at Dec. 31, 2024           232,887,000          
Ending balance at Dec. 31, 2024 (413,598,000)         $ 1,000   (33,524,000) 1,096,160,000 0 (1,476,235,000)
Beginning balance (in shares) at Mar. 31, 2024   159,161,000 0                
Beginning balance at Mar. 31, 2024   $ 559,288,000 $ 0                
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Redeemable convertible preferred stock (in shares)         29,523,000            
Redeemable convertible preferred stock         $ 1,147,476,000            
Series C redeemable convertible preferred stock accretion to redemption value   $ 14,000                  
Paid-in-kind dividend on Series C redeemable convertible preferred stock 15,582,000                    
Ending balance (in shares) at Jun. 30, 2024   188,684,000 0                
Ending balance at Jun. 30, 2024   $ 1,722,360,000 $ 0                
Beginning balance (in shares) at Mar. 31, 2024           203,735,000          
Beginning balance at Mar. 31, 2024 (715,555,000)         $ 1,000   (32,054,000) 58,623,000 (90,000) (742,035,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Series C redeemable convertible preferred stock accretion to redemption value (14,000)                    
Paid-in-kind dividend on Series C redeemable convertible preferred stock (15,582,000)                    
Exercise of stock options (in shares)           411,000          
Exercise of stock options 597,000               597,000    
Repurchase of common stock for business combination (in shares)           (2,105,000)          
Stock-based compensation expense 9,608,000               9,608,000    
Other comprehensive income (loss) 27,000                 27,000  
Net loss (323,021,000)                   (323,021,000)
Ending balance (in shares) at Jun. 30, 2024           202,041,000          
Ending balance at Jun. 30, 2024 $ (1,043,940,000)         $ 1,000   (32,054,000) 53,232,000 (63,000) (1,065,056,000)
Beginning balance (in shares) at Dec. 31, 2024 184,635,000 184,635,000 0                
Beginning balance at Dec. 31, 2024 $ 1,722,111,000 $ 1,722,111,000 [1] $ 0 [1]                
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Series C redeemable convertible preferred stock accretion to redemption value   $ 29,000                  
Conversion of redeemable convertible preferred stock in connection with initial public offering (in shares)   (184,635,000) 29,874,000                
Conversion of redeemable convertible preferred stock in connection with initial public offering   $ (1,722,140,000) $ 1,163,159,000                
Ending balance (in shares) at Mar. 31, 2025   0 29,874,000                
Ending balance at Mar. 31, 2025   $ 0 $ 1,163,159,000                
Beginning balance (in shares) at Dec. 31, 2024           232,887,000          
Beginning balance at Dec. 31, 2024 (413,598,000)         $ 1,000   (33,524,000) 1,096,160,000 0 (1,476,235,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Series C redeemable convertible preferred stock accretion to redemption value (29,000)               (29,000)    
Cash dividend on Series C redeemable convertible preferred stock (28,693,000)               (28,693,000)    
Reclassification of warrants from liability to equity classified 172,808,000               172,808,000    
Issuance of common stock (in shares)           36,590,000          
Issuance of common stock 1,391,515,000               1,391,515,000    
Conversion of redeemable convertible preferred stock in connection with initial public offering (in shares)           155,112,000          
Conversion of redeemable convertible preferred stock in connection with initial public offering 558,982,000         $ 1,000     558,981,000    
Issuance of common stock for contract incentive (in shares)           8,750,000          
Issuance of common stock for contract incentive 350,000,000               350,000,000    
Issuance of common stock upon settlement of restricted stock units (in shares)           911,000          
Tax withholdings on settlement of restricted stock units (in shares)           (392,000)          
Tax withholdings on settlement of restricted stock units (15,685,000)               (15,685,000)    
Exercise of stock options (in shares)           1,675,000          
Exercise of stock options 2,794,000               2,794,000    
Stock-based compensation expense 202,670,000               202,670,000    
Net loss (314,641,000)                   (314,641,000)
Ending balance (in shares) at Mar. 31, 2025           435,533,000          
Ending balance at Mar. 31, 2025 $ 1,906,123,000         $ 2,000   (33,524,000) 3,730,521,000 0 (1,790,876,000)
Beginning balance (in shares) at Dec. 31, 2024 184,635,000 184,635,000 0                
Beginning balance at Dec. 31, 2024 $ 1,722,111,000 $ 1,722,111,000 [1] $ 0 [1]                
Ending balance (in shares) at Jun. 30, 2025 0 0 29,874,066                
Ending balance at Jun. 30, 2025 [1]   $ 0 $ 1,163,159,000                
Beginning balance (in shares) at Dec. 31, 2024           232,887,000          
Beginning balance at Dec. 31, 2024 $ (413,598,000)         $ 1,000   (33,524,000) 1,096,160,000 0 (1,476,235,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Exercise of stock options (in shares) 2,950,000                    
Net loss $ (605,150,000)                    
Ending balance (in shares) at Jun. 30, 2025           458,177,000          
Ending balance at Jun. 30, 2025 $ 2,657,647,000         $ 2,000   (33,524,000) 4,772,825,000 (271,000) (2,081,385,000)
Beginning balance (in shares) at Mar. 31, 2025   0 29,874,000                
Beginning balance at Mar. 31, 2025   $ 0 $ 1,163,159,000                
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Series C redeemable convertible preferred stock accretion to redemption value     $ 0                
Ending balance (in shares) at Jun. 30, 2025 0 0 29,874,066                
Ending balance at Jun. 30, 2025 [1]   $ 0 $ 1,163,159,000                
Beginning balance (in shares) at Mar. 31, 2025           435,533,000          
Beginning balance at Mar. 31, 2025 $ 1,906,123,000         $ 2,000   (33,524,000) 3,730,521,000 0 (1,790,876,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock (in shares)           1,760,000          
Issuance of common stock 67,669,000               67,669,000    
Issuance of common stock upon settlement of restricted stock units (in shares)           1,811,000          
Tax withholdings on settlement of restricted stock units (in shares)           (904,000)          
Tax withholdings on settlement of restricted stock units (92,541,000)               (92,541,000)    
Issuance of common stock and restricted stock awards for business combination (in shares)           19,174,000          
Issuance of common stock and restricted stock awards for business combination 928,900,000               928,900,000    
Issuance of replacement restricted stock units for business combination 3,861,000               3,861,000    
Tax withholdings on issuance of common stock and restricted stock awards for business combination (in shares)           (472,000)          
Tax withholdings on issuance of common stock and restricted stock awards for business combination (24,332,000)               (24,332,000)    
Exercise of stock options (in shares)           1,275,000          
Exercise of stock options 1,744,000               1,744,000    
Stock-based compensation expense 157,003,000               157,003,000    
Other comprehensive income (loss) (271,000)                 (271,000)  
Net loss (290,509,000)                   (290,509,000)
Ending balance (in shares) at Jun. 30, 2025           458,177,000          
Ending balance at Jun. 30, 2025 $ 2,657,647,000         $ 2,000   $ (33,524,000) $ 4,772,825,000 $ (271,000) $ (2,081,385,000)
[1] Refer to Note 14—Related-Party Transactions for further information on related party arrangements.