XML 15 R4.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Revenues $ 14,658 $ 5,966 $ 24,791 $ 15,565
Cost of revenues:        
Cost of revenues 6,637 1,190 10,938 2,928
Gross margin:        
Gross margin 8,021 4,776 13,853 12,637
Operating expenses:        
Research and development [1] 122,365 58,035 214,104 115,899
General and administrative [1] 43,774 26,061 90,824 54,075
Total operating expenses 166,139 84,096 304,928 169,974
Loss from operations (158,118) (79,320) (291,075) (157,337)
Other (income) expense:        
Interest income (13,293) (2,023) (27,774) (4,720)
Interest expense [2] 3,661 2,890 7,278 5,750
Total other (income) expense (9,632) 867 (20,496) 1,030
Loss before income taxes (148,486) (80,187) (270,579) (158,367)
Provision for income taxes 267 229 483 327
Net loss (148,753) (80,416) (271,062) (158,694)
Convertible preferred stock paid-in-kind dividend 0 12,376 0 24,540
Net loss attributable to common stockholders, basic (148,753) (92,792) (271,062) (183,234)
Net loss attributable to common stockholders, diluted $ (148,753) $ (92,792) $ (271,062) $ (183,234)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.64) $ (2.02) $ (1.17) $ (4.01)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.64) $ (2.02) $ (1.17) $ (4.01)
Comprehensive loss:        
Net loss $ (148,753) $ (80,416) $ (271,062) $ (158,694)
Foreign currency translation adjustments (112) 226 (189) 224
Comprehensive loss (148,865) (80,190) (271,251) (158,470)
Product        
Revenues:        
Revenues 3,280 2,544 4,243 5,032
Cost of revenues:        
Cost of revenues 1,661 62 2,257 595
Gross margin:        
Gross margin 1,619 2,482 1,986 4,437
Service        
Revenues:        
Revenues [3] 11,378 3,422 20,548 10,533
Cost of revenues:        
Cost of revenues 4,976 1,128 8,681 2,333
Gross margin:        
Gross margin $ 6,402 $ 2,294 $ 11,867 $ 8,200
[1] Includes related party amounts of $5,697 and $0 attributable to warrant expense (research and development) and $136 and $(37) (general and administrative) for the three months ended June 30, 2026 and 2025, respectively. Includes related party amounts of $11,331 and $0 attributable to warrant expense (research and development) and $223 and $(140) (general and administrative) for the six months ended June 30, 2026 and 2025, respectively (see Note 12).
[2] Includes related party amounts of $954 and $0 for the three months ended June 30, 2026 and 2025, respectively. Includes related party amounts of $1,655 and $0 for the six months ended June 30, 2026 and 2025, respectively (see Note 12).
[3] Includes related party amounts of $7,870 and $1,428 for the three months ended June 30, 2026 and 2025, respectively. Includes related party amounts of $15,869 and $3,610 for the six months ended June 30, 2026 and 2025, respectively (see Note 12).