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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 261,535 $ 282,442
Short-term investments 492,122 568,426
Total cash, cash equivalents and short-term investments 753,657 850,868
Accounts receivable, net of allowance for credit losses of $0 and $0, respectively (including related party) 21,821 18,874
Inventories 128,048 107,905
Income taxes receivable 23,805 23,672
Government grant receivable 19,273 19,799
Prepaid expenses and other current assets 13,791 10,204
Total current assets 960,395 1,031,322
Non-current assets    
Property, plant and equipment, net 1,290,090 1,251,496
Operating lease right-of-use assets 9,139 8,680
Inventories 45,224 19,031
Intangible assets, net 6,772 7,370
Other non-current assets 24,567 15,659
Total non-current assets 1,375,792 1,302,236
Total assets 2,336,187 2,333,558
Current liabilities    
Accounts and construction payable 21,726 23,562
Accrued liabilities 74,447 64,727
Current portion of long-term debt 67,434 0
Deferred revenue 79,894 56,880
Other current liabilities 23,366 18,850
Total current liabilities 266,867 164,019
Non-current liabilities    
Long-term debt, net of current portion 843,369 908,729
Deferred revenue 45,054 43,120
Operating lease liabilities 6,016 5,798
Deferred government grant 22,029 20,087
Deferred investment tax credit 26,428 25,502
Deferred income taxes 67,309 85,309
Other non-current liabilities 48,565 26,114
Total non-current liabilities 1,058,770 1,114,659
Total liabilities 1,325,637 1,278,678
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock ($0.0001 par value, 50,000,000 shares authorized, none issued and outstanding in either period) 0 0
Common stock ($0.0001 par value, 450,000,000 shares authorized, 178,715,488 and 178,445,570 shares issued, and 163,465,706 and 163,195,788 shares outstanding, as of June 30, 2025, and December 31, 2024, respectively) 18 18
Additional paid-in capital 970,823 961,434
Retained earnings 266,782 320,302
Accumulated other comprehensive income (loss) (26) 173
Treasury stock, at cost, 15,249,782 shares for both periods (227,047) (227,047)
Total stockholders’ equity 1,010,550 1,054,880
Total liabilities and stockholders’ equity $ 2,336,187 $ 2,333,558