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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net loss $ (60,994) $ (41,003)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,310 5,471
Stock-based compensation 13,270 1,843
Amortization of operating lease right-of-use assets 1,352 1,364
Loss on debt extinguishment 7,804 10,713
Amortization of debt issuance costs and other non-cash interest expense 2,300 2,896
Reduction in fair value of earnout 0 (5,956)
Deferred Taxes 89 (201)
Non-cash services acquired 10,619 9,500
Other 76 217
Change in operating assets and liabilities, net of acquisitions:    
Accounts receivable 2,714 (3,837)
Prepaid expenses and other current assets (2,666) (282)
Contract assets (2,521) (1,030)
Inventory 102 543
Other assets (936) (2,989)
Accounts payable 3,060 (4,388)
Contract liabilities (12,559) 4,883
Accrued expenses 3,812 4,625
Operating lease liabilities (1,522) (1,335)
Other liabilities (213) (89)
Net cash used in operating activities (30,903) (19,055)
Cash Flows from Investing Activities:    
Purchases of property and equipment (57,865) (32,325)
Grant funding for property and equipment 38,250 14,250
Acquisitions, net of cash acquired (6,572) 0
Net cash used in investing activities (26,187) (18,075)
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 exercise of stock options 155 0
Proceeds from the issuance of Common stock, net 45,886 0
Proceeds from the issuance of Class C preferred stock, net 116,047 37,197
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 (3,502) 0
Sale of noncontrolling interest 6,029 13,425
Purchase of noncontrolling interest (7,001) 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 (2,146) 0
Proceeds from the convertible note 130 4,721
Other 0 (530)
Net cash provided by financing activities 469,955 56,161
Effect of foreign exchange on cash and cash equivalents 130 (13)
Net increase in cash and cash equivalents 412,995 19,018
Cash and cash equivalent at the beginning of the period 55,930 30,279
Cash and cash equivalents at the end of the period  468,925 49,297
Other $ 0 $ (530)