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CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
2023 Underwriting Agreement
2023 Subscription Agreement
2024 Underwriting Agreement
2024 Subscription Agreement
2025 Subscription Agreement
Series A Derivative Liability
Series B Derivative Liability
Common Stock
Common Stock
2023 Underwriting Agreement
Common Stock
2023 Subscription Agreement
Common Stock
2024 Underwriting Agreement
Common Stock
2024 Subscription Agreement
Common Stock
2025 Subscription Agreement
Additional Paid-In Capital
Additional Paid-In Capital
2023 Underwriting Agreement
Additional Paid-In Capital
2023 Subscription Agreement
Additional Paid-In Capital
2024 Underwriting Agreement
Additional Paid-In Capital
2024 Subscription Agreement
Additional Paid-In Capital
2025 Subscription Agreement
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022 0                                            
Beginning balance at Dec. 31, 2022 $ 0                                            
Ending balance (in shares) at Dec. 31, 2023 0                                            
Ending balance at Dec. 31, 2023 $ 0                                            
Beginning balance (in shares) at Dec. 31, 2022 [1]                 182,931,474                            
Beginning balance at Dec. 31, 2022 4,349,701               $ 18 [1]           $ 11,752,303           $ (20,716) $ (11,572) $ (7,370,332)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                              
Net loss (2,828,420)                                           (2,828,420)
Other comprehensive income (loss) 16,422                                         16,422  
Tax withholding payments for net settlement of employee awards (17,615)                           (17,615)                
Issuance of common stock upon vesting of employee RSUs (in shares) [1]                 1,694,776                            
Issuance of common stock upon vesting of employee RSUs 0                           0                
Issuance of common stock under employee stock purchase plan (in shares) [1]                 474,887                            
Issuance of common stock under employee stock purchase plan 23,836                           23,836                
Issuance of common stock upon exercise of stock options (in shares) [1]                 900,364                            
Issuance of common stock upon exercise of stock options 10,343                           10,343                
Issuance of common stock (in shares) [1]                   17,354,495 26,569,370                        
Issuance of common stock   $ 1,184,224 $ 1,812,641             $ 2 [1] $ 3 [1]         $ 1,184,222 $ 1,812,638            
Accretion of redeemable convertible preferred stock (related party) 0                                            
Stock-based compensation 300,560                           300,560                
Ending balance (in shares) at Dec. 31, 2023 [1]                 229,925,366                            
Ending balance at Dec. 31, 2023 4,851,692               $ 23 [1]           15,066,287           (20,716) 4,850 (10,198,752)
Increase (Decrease) in Temporary Equity [Roll Forward]                                              
Issuance of Series redeemable convertible preferred stock, net of derivative liability and issuance costs (related party) (in shares)             100,000 75,000                              
Issuance of Series redeemable convertible preferred stock, net of derivative liability and issuance costs (related party)             $ 500,549 $ 451,683                              
Accretion of redeemable convertible preferred stock (related party) $ 347,610                                            
Ending balance (in shares) at Dec. 31, 2024 175,000           100,000 75,000                              
Ending balance at Dec. 31, 2024 $ 1,299,842           $ 730,025 $ 569,817                              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                              
Net loss (2,713,942)                                           (2,713,942)
Other comprehensive income (loss) (6,949)                                         (6,949)  
Tax withholding payments for net settlement of employee awards (10,021)                           (10,021)                
Issuance of common stock upon vesting of employee RSUs (in shares) [1]                 4,494,526                            
Issuance of common stock upon vesting of employee RSUs 0                                            
Issuance of common stock under employee stock purchase plan (in shares) [1]                 897,646                            
Issuance of common stock under employee stock purchase plan 19,208                           19,208                
Issuance of common stock upon exercise of stock options (in shares) [1]                 451,361                            
Issuance of common stock upon exercise of stock options 4,883                           4,883                
Issuance of common stock (in shares) [1]                       27,748,453 39,618,838                    
Issuance of common stock       $ 718,357 $ 1,025,660             $ 3 [1] $ 4 [1]         $ 718,354 $ 1,025,656        
Accretion of redeemable convertible preferred stock (related party) (347,610)   $ (347,610)                           (347,610)            
Stock-based compensation $ 331,534                           331,534                
Ending balance (in shares) at Dec. 31, 2024 303,136,190 [2]               303,136,190 [1]                            
Ending balance at Dec. 31, 2024 $ 3,872,812               $ 30 [1]           16,808,291           (20,716) (2,099) (12,912,694)
Increase (Decrease) in Temporary Equity [Roll Forward]                                              
Accretion of redeemable convertible preferred stock (related party) $ 983,648                                            
Ending balance (in shares) at Dec. 31, 2025 175,000           100,000 75,000                              
Ending balance at Dec. 31, 2025 $ 2,283,490           $ 1,339,641 $ 943,849                              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                              
Net loss (2,698,051)                                           (2,698,051)
Other comprehensive income (loss) 13,791                                         13,791  
Tax withholding payments for net settlement of employee awards (12,911)                           (12,911)                
Issuance of common stock upon vesting of employee RSUs (in shares) [1]                 8,602,771                            
Issuance of common stock upon vesting of employee RSUs 0               $ 1           (1)                
Issuance of common stock under employee stock purchase plan (in shares) [1]                 1,559,456                            
Issuance of common stock under employee stock purchase plan $ 22,808               $ 1           22,807                
Issuance of common stock upon exercise of stock options (in shares) 561,891               352,524 [1]                            
Issuance of common stock upon exercise of stock options $ 2,342                           2,342                
Issuance of common stock (in shares) [1]                           13,715,121                  
Issuance of common stock           $ 299,722               $ 1 [1]           $ 299,721      
Purchase of capped call options (118,250)                           (118,250)                
Accretion of redeemable convertible preferred stock (related party) (983,648)                               $ (983,648)            
Stock-based compensation $ 318,672                           318,672                
Ending balance (in shares) at Dec. 31, 2025 327,366,062 [2]               327,366,062 [1]                            
Ending balance at Dec. 31, 2025 $ 717,287               $ 33 [1]           $ 16,337,023           $ (20,716) $ 11,692 $ (15,610,745)
[1] The number of shares of common stock has been adjusted for the prior periods presented to reflect the one-for-ten (1:10) reverse stock split effected on August 29, 2025. See Note 2 “Summary of Significant Accounting Policies” for more information
[2] The number of shares of common stock and treasury stock have been adjusted for the prior period presented to reflect the one-for-ten (1:10) reverse stock split effected on August 29, 2025. See Note 2 “Summary of Significant Accounting Policies” for more information.