SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Revenue By Geographic Area Based On Sales Location

The disaggregation of the Company’s revenue by geographic area based on the sales location where the sales originated was as follows (in thousands):


	Year Ended December 31,
	2024		2023
North America(1)	$	598,022	$	521,991
Middle East(2)	194,052		58,993
Other international	15,758		14,287
Total revenue	$	807,832	$	595,271

(1) United States revenue was $587.3 million, $511.3 million, and $597.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. No individual country outside of United States had more than 10% of the total revenue for the year ended December 31, 2022.

(2) Kingdom of Saudi Arabia revenue was $191.1 million for the year ended December 31, 2024. Middle East represented revenue from Kingdom of Saudi Arabia for the year ended December 31, 2023.

Schedule of Segment Revenue, Segment Profit or Loss, and Significant Segment Expenses

The following table included information about reported segment revenue, segment profit or loss, and significant segment expenses (in thousands):


	Year Ended December 31,
	2024		2023		2022
Revenue	$	807,832	$	595,271	$	608,181
Less:
Cost of revenue - excluding LCNRV and provision for warranty	(993,154)		(935,118)		(1,043,383)
Cost of revenue - LCNRV	(617,446)		(926,898)		(569,479)
Cost of revenue - provision for warranty	(120,343)		(74,050)		(33,224)
Research and development expenses	(1,176,453)		(937,012)		(821,512)
Selling, general, and administrative expenses	(900,952)		(797,235)		(734,574)
Restructuring charges	(20,304)		(24,546)		—
Change in fair value of common stock warrant liability	34,150		86,926		1,254,218
Change in fair value of equity securities	(43,057)		5,999		—
Change in fair value of derivative liabilities associated with redeemable convertible preferred stock (related party)	155,350		—		—
Interest income	213,026		204,274		56,756
Interest expense	(32,923)		(24,915)		(30,596)
Other income (expense), net	(18,469)		(90)		9,532
Provision for income taxes	(1,199)		(1,026)		(379)
Segment net loss	(2,713,942)		(2,828,420)		(1,304,460)
Consolidated net loss	$	(2,713,942)	$	(2,828,420)	$	(1,304,460)

Schedule of Long-Lived Assets by Geographic Areas

The long-lived assets by geographic area were as follows (in thousands):


	December 31, 2024		December 31, 2023
United States	$	3,314,720	$	2,950,154
Foreign	159,778		82,221
Total long-lived assets	$	3,474,498	$	3,032,375