Asset Acquisition and Collaborative Arrangement

6 Months Ended

Jun. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Asset Acquisition and Collaborative Arrangement

Asset Acquisition and Collaborative Arrangement

Asset Acquisition

During the three months ended June 30, 2026, the Company acquired Biocogniv, Inc. (“Biocogniv”), a developer of an agentic artificial intelligence (“AI”) platform, to assist in accelerating the design of software development in support of aircraft certification efforts. The total consideration consisted of Class A common stock valued at $10,797, net cash of $2,561, and a cash holdback of $1,645 for indemnification claims, payable in installments on the six- and twelve-month anniversaries of the closing date. The transaction was accounted for as an acquisition of assets because substantially all the fair value of the gross assets acquired were concentrated in a single identifiable asset. The Company recognized acquired in-process research and development (“IPR&D”) expense of $15,003, as the AI platform did not have alternative future use at the time of the acquisition. The Company incurred direct transaction costs of $1,144, which were recorded as research and development expense.

Collaborative Arrangement

During September 2025, the Company entered into a collaborative arrangement with General Electric Company, operating as GE Aerospace (“GE Aerospace”) and in connection with this arrangement, issued warrants to purchase Class A common stock. During the three and six months ended June 30, 2026, the Company recorded research and development expense of $6,511 and $12,645, which includes $5,697 and $11,331 of warrant expense, respectively. As of June 30, 2026, there was $49,832 of unrecognized compensation expense related to unvested warrants.