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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Convertible Series C Preferred Stock
Convertible Preferred Stock (Series A, B, C and C-1)
Convertible Preferred Stock (Series A, B, C and C-1)
Convertible Series C Preferred Stock
Common Stock Including Class A, Class B, and Treasury Stock
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2024 [1]     99,565,570   45,542,122      
Beginning balance at Dec. 31, 2024 $ 435,943   $ 1,411,313   $ (5,887) $ 0 $ (969,276) $ (207)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of stock (in shares) [1]       170,007 352,930      
Issuance of stock 1,245 $ 2,880   $ 2,880   1,245    
Convertible preferred stock paid-in-kind dividend (24,540)   $ 24,540     (12,859) (11,681)  
Stock-based compensation 11,614         11,614    
Foreign currency translation adjustments 224             224
Net loss (158,694)           (158,694)  
Ending balance (in shares) at Jun. 30, 2025 [1]     99,735,577   45,895,052      
Ending balance at Jun. 30, 2025 293,212   $ 1,438,733   $ (5,887) 0 (1,139,651) 17
Beginning balance (in shares) at Mar. 31, 2025 [1]     99,610,162   45,771,633      
Beginning balance at Mar. 31, 2025 366,441   $ 1,424,198   $ (5,887) 0 (1,051,661) (209)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of stock (in shares) [1]       125,415 123,419      
Issuance of stock 495 $ 2,159   $ 2,159   495    
Convertible preferred stock paid-in-kind dividend (12,376)   $ 12,376     (4,802) (7,574)  
Stock-based compensation 4,307         4,307    
Foreign currency translation adjustments 226             226
Net loss (80,416)           (80,416)  
Ending balance (in shares) at Jun. 30, 2025 [1]     99,735,577   45,895,052      
Ending balance at Jun. 30, 2025 293,212   $ 1,438,733   $ (5,887) 0 (1,139,651) 17
Beginning balance (in shares) at Dec. 31, 2025 [1]     0   229,228,031      
Beginning balance at Dec. 31, 2025 1,817,836   $ 0   $ 23 3,731,273 (1,913,450) (10)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of stock (in shares) [1]         3,029,519      
Issuance of stock 8,374       $ 1 8,373    
Issuance of common stock upon vesting of restricted stock (in shares) [1]         872,769      
Convertible preferred stock paid-in-kind dividend 0              
Stock-based compensation 38,090         38,090    
Warrant expense 11,331         11,331    
Issuance of Class A common stock in connection with asset acquisition (in shares) [1]         715,587      
Issuance of Class A common stock in connection with asset acquisition 10,797         10,797    
Foreign currency translation adjustments (189)             (189)
Net loss (271,062)           (271,062)  
Ending balance (in shares) at Jun. 30, 2026 [1]     0   233,845,906      
Ending balance at Jun. 30, 2026 1,615,177   $ 0   $ 24 3,799,864 (2,184,512) (199)
Beginning balance (in shares) at Mar. 31, 2026 [1]     0   229,801,423      
Beginning balance at Mar. 31, 2026 1,725,255   $ 0   $ 23 3,761,078 (2,035,759) (87)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of stock (in shares) [1]         2,699,037      
Issuance of stock 7,619       $ 1 7,618    
Issuance of common stock upon vesting of restricted stock (in shares) [1]         629,859      
Convertible preferred stock paid-in-kind dividend 0              
Stock-based compensation 14,674         14,674    
Warrant expense 5,697         5,697    
Issuance of Class A common stock in connection with asset acquisition (in shares) [1]         715,587      
Issuance of Class A common stock in connection with asset acquisition 10,797         10,797    
Foreign currency translation adjustments (112)             (112)
Net loss (148,753)           (148,753)  
Ending balance (in shares) at Jun. 30, 2026 [1]     0   233,845,906      
Ending balance at Jun. 30, 2026 $ 1,615,177   $ 0   $ 24 $ 3,799,864 $ (2,184,512) $ (199)
[1] Share amounts have been adjusted to reflect the 6.3811681-for-1 forward stock split that became effective on November 3, 2025 in connection with the initial public offering.