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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities:    
Net loss $ (79,330) $ (56,250)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,440 9,595
Impairment losses 0 3,594
Stock-based compensation 15,390 2,686
Amortization of operating lease right-of-use assets 1,795 2,097
Loss on debt extinguishment 7,804 10,713
Amortization of debt issuance costs and other non-cash interest expense 2,300 4,147
Reduction in fair value of earnout 0 (5,956)
Deferred Taxes (1,552) (508)
Non-cash services acquired 11,124 9,794
Other 446 68
Change in operating assets and liabilities, net of acquisitions:    
Accounts receivable (113) (1,185)
Prepaid expenses and other current assets (4,810) (691)
Contract assets (4,507) (5,570)
Inventories (193) 1,597
Other assets (374) (3,806)
Accounts payable 3,488 (1,931)
Contract liabilities (14,585) 5,179
Accrued expenses 10,522 8,650
Operating lease liabilities (1,597) (2,133)
Other liabilities (212) (93)
Net cash used in operating activities (45,964) (20,003)
Cash Flows from Investing Activities:    
Purchases of property and equipment (96,562) (52,760)
Grant funding for property and equipment 41,850 29,730
Acquisitions, net of cash acquired (32,597) 0
Purchase of Investment (2,500) 0
Net cash used in investing activities (89,809) (23,030)
Cash Flows from Financing Activities:    
Proceeds from term loan, net 0 57,922
Repayment of term loan (64,420) (56,574)
Borrowings from the credit facility 64,500 0
Repayments on the credit facility (64,500) 0
Proceeds from the issuance of Common stock, net 45,886 0
Proceeds from the issuance of Class C preferred stock, net 116,047 46,425
Proceeds from the issuance of Class A common stock upon initial public offering, net of underwriting costs 409,405 0
Costs associated with initial public offering (8,133) 0
Sale of noncontrolling interest 37,767 13,425
Redemptions of redeemable noncontrolling interests 0 (9,491)
Purchase of noncontrolling interest (10,600) 0
Redemptions of Class A-1 redeemable preferred stock (3,044) 0
Cash repayment of Preferred B dividends (27,584) 0
Costs associated with the credit facility (2,593) 0
Proceeds from the convertible note 0 4,968
Other 307 (1,746)
Net cash provided by financing activities 493,038 54,929
Effect of foreign exchange on cash and cash equivalents 125 23
Net increase in cash and cash equivalents 357,390 11,919
Cash and cash equivalent at the beginning of the period 55,930 30,279
Cash and cash equivalents at the end of the period  $ 413,320 $ 42,198