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CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Series A Derivative Liability
Common Stock
Additional Paid-In Capital
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023 0            
Beginning balance at Dec. 31, 2023 $ 0            
Increase (Decrease) in Temporary Equity [Roll Forward]              
Issuance of Series A redeemable convertible preferred stock, net of derivative liability and issuance costs (in shares)   100,000          
Issuance of Series A redeemable convertible preferred stock, net of derivative liability and issuance costs (related party)   $ 500,549          
Accretion of redeemable convertible preferred stock (related party) $ 150,762            
Ending balance (in shares) at Jun. 30, 2024 100,000            
Ending balance at Jun. 30, 2024 $ 651,311            
Beginning balance (in shares) at Dec. 31, 2023     2,299,253,664        
Beginning balance at Dec. 31, 2023 4,851,692   $ 230 $ 15,066,080 $ (20,716) $ 4,850 $ (10,198,752)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net loss (1,324,249)           (1,324,249)
Other comprehensive income (9,009)         (9,009)  
Tax withholding payments for net settlement of employee awards (5,312)     (5,312)      
Issuance of common stock upon vesting of employee RSUs (in shares)     12,732,126        
Issuance of common stock upon vesting of employee RSUs 0   $ 2 (2)      
Issuance of common stock under employee stock purchase plan (in shares)     4,601,557        
Issuance of common stock under employee stock purchase plan 11,104     11,104      
Issuance of common stock upon exercise of stock options (in shares)     2,098,557        
Issuance of common stock upon exercise of stock options 2,311     2,311      
Accretion of redeemable convertible preferred stock (related party) (150,762)     (150,762)      
Stock-based compensation 140,122     140,122      
Ending balance (in shares) at Jun. 30, 2024     2,318,685,904        
Ending balance at Jun. 30, 2024 $ 3,515,897   $ 232 15,063,541 (20,716) (4,159) (11,523,001)
Beginning balance (in shares) at Mar. 31, 2024 100,000            
Beginning balance at Mar. 31, 2024 $ 504,450            
Increase (Decrease) in Temporary Equity [Roll Forward]              
Accretion of redeemable convertible preferred stock (related party) $ 146,861            
Ending balance (in shares) at Jun. 30, 2024 100,000            
Ending balance at Jun. 30, 2024 $ 651,311            
Beginning balance (in shares) at Mar. 31, 2024     2,306,928,813        
Beginning balance at Mar. 31, 2024 4,232,190   $ 231 15,134,686 (20,716) (2,400) (10,879,611)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net loss (643,390)           (643,390)
Other comprehensive income (1,759)         (1,759)  
Tax withholding payments for net settlement of employee awards (2,070)     (2,070)      
Issuance of common stock upon vesting of employee RSUs (in shares)     6,472,275        
Issuance of common stock upon vesting of employee RSUs 0   $ 1 (1)      
Issuance of common stock under employee stock purchase plan (in shares)     4,601,557        
Issuance of common stock under employee stock purchase plan 11,104     11,104      
Issuance of common stock upon exercise of stock options (in shares)     683,259        
Issuance of common stock upon exercise of stock options 786     786      
Accretion of redeemable convertible preferred stock (related party) (146,861)     (146,861)      
Stock-based compensation 65,897     65,897      
Ending balance (in shares) at Jun. 30, 2024     2,318,685,904        
Ending balance at Jun. 30, 2024 $ 3,515,897   $ 232 15,063,541 (20,716) (4,159) (11,523,001)
Beginning balance (in shares) at Dec. 31, 2024 175,000 100,000          
Beginning balance at Dec. 31, 2024 $ 1,299,842 $ 730,025          
Increase (Decrease) in Temporary Equity [Roll Forward]              
Accretion of redeemable convertible preferred stock (related party) $ 564,748            
Ending balance (in shares) at Jun. 30, 2025 175,000 100,000          
Ending balance at Jun. 30, 2025 $ 1,864,590 $ 1,084,589          
Beginning balance (in shares) at Dec. 31, 2024 3,031,361,899   3,031,361,899        
Beginning balance at Dec. 31, 2024 $ 3,872,812   $ 303 16,808,018 (20,716) (2,099) (12,912,694)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net loss (905,603)           (905,603)
Other comprehensive income 16,715         16,715  
Tax withholding payments for net settlement of employee awards (9,449)     (9,449)      
Issuance of common stock upon vesting of employee RSUs (in shares)     31,732,762        
Issuance of common stock upon vesting of employee RSUs 0   $ 3 (3)      
Issuance of common stock under employee stock purchase plan (in shares)     6,854,017        
Issuance of common stock under employee stock purchase plan $ 12,696   $ 1 12,695      
Issuance of common stock upon exercise of stock options (in shares) 4,490,688   2,396,916        
Issuance of common stock upon exercise of stock options $ 1,274     1,274      
Purchase of capped call options (118,250)     (118,250)      
Accretion of redeemable convertible preferred stock (related party) (564,748)     (564,748)      
Stock-based compensation $ 102,144     102,144      
Ending balance (in shares) at Jun. 30, 2025 3,072,345,594   3,072,345,594        
Ending balance at Jun. 30, 2025 $ 2,407,591   $ 307 16,231,681 (20,716) 14,616 (13,818,297)
Beginning balance (in shares) at Mar. 31, 2025 175,000            
Beginning balance at Mar. 31, 2025 $ 1,664,767            
Increase (Decrease) in Temporary Equity [Roll Forward]              
Accretion of redeemable convertible preferred stock (related party) $ 199,823            
Ending balance (in shares) at Jun. 30, 2025 175,000 100,000          
Ending balance at Jun. 30, 2025 $ 1,864,590 $ 1,084,589          
Beginning balance (in shares) at Mar. 31, 2025     3,048,800,731        
Beginning balance at Mar. 31, 2025 3,183,675   $ 305 16,477,601 (20,716) 5,350 (13,278,865)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net loss (539,432)           (539,432)
Other comprehensive income 9,266         9,266  
Tax withholding payments for net settlement of employee awards (6,172)     (6,172)      
Issuance of common stock upon vesting of employee RSUs (in shares)     14,642,058        
Issuance of common stock upon vesting of employee RSUs 0   $ 1 (1)      
Issuance of common stock under employee stock purchase plan (in shares)     6,854,017        
Issuance of common stock under employee stock purchase plan 12,696   $ 1 12,695      
Issuance of common stock upon exercise of stock options (in shares)     2,048,788        
Issuance of common stock upon exercise of stock options 861     861      
Purchase of capped call options (118,250)     (118,250)      
Accretion of redeemable convertible preferred stock (related party) (199,823)     (199,823)      
Stock-based compensation $ 64,770     64,770      
Ending balance (in shares) at Jun. 30, 2025 3,072,345,594   3,072,345,594        
Ending balance at Jun. 30, 2025 $ 2,407,591   $ 307 $ 16,231,681 $ (20,716) $ 14,616 $ (13,818,297)