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Consolidated Balance Sheet - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 35,723 $ 42,649
Accounts receivable, net of allowance for credit loss of $nil 12,722 0
Prepaid expenses and other current assets 7,271 1,519
Marketable securities 466,969 568,564
Interest receivable on marketable securities 3,570 3,702
Total current assets 526,255 616,434
Property and equipment, net of accumulated depreciation of $874 and $666, respectively 586 717
Intangible assets, net of accumulated amortization of $448 4,622 0
Lease security deposit 145 141
Operating lease right-of-use assets 2,402 3,605
Other non-current assets 6,616 587
Total assets 540,626 621,484
Current liabilities    
Accounts payable 6,348 2,209
Current operating lease liabilities 1,663 1,972
Contract liabilities, current portion 11,117 0
Short-term borrowings 6,283 0
Accrued expenses 32,833 9,793
Total current liabilities 58,244 13,974
Warrant liability 2,053 353
Contract liabilities, net of current portion 15,572 0
Non-current operating lease liabilities 969 2,035
Total liabilities 76,838 16,362
Commitments and contingencies (Note 17)
Stockholders' equity    
Class A and Class B common stock and additional paid in capital, $0.0001 par value per share; 1,060,000,000 (Class A 1,000,000,000,Class B 60,000,000) shares authorized as of December 31, 2024 and December 31, 2023, respectively, 337,837,872 (Class A 336,837,872, Class B 1,000,000) and 219,046,219 (Class A 218,046,219, Class B 1,000,000) shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively 1,373,958 947,745
Accumulated deficit (910,743) (342,804)
Accumulated other comprehensive income 573 181
Total stockholders' equity 463,788 605,122
Total liabilities and stockholders' equity $ 540,626 $ 621,484