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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 621,975 $ 207,607
Restricted cash 2,042 2,042
Trade accounts receivable 23,326 44,759
Contract assets 10,175 34,592
Prepaid and other current assets 8,466 4,161
Total current assets 665,984 293,161
Property and equipment, net 49,470 23,364
Operating lease right-of-use assets 36,741 38,765
Finance lease right-of-use assets 102 114
Other assets 1,233 0
Total assets 753,530 355,404
Current liabilities    
Contract liabilities, current 66,158 65,184
Operating lease liabilities, current 6,252 2,021
Finance lease liabilities, current 42 37
Other current liabilities 15,624 11,489
Total current liabilities 106,021 98,831
Long-term debt 334,827 0
Contract liabilities, non-current 1,636 14,334
Operating lease liabilities, non-current 30,081 35,259
Finance lease liabilities, non-current 38 63
Earn-out liabilities 0 134,156
Warrant liabilities 36,859 68,778
Other long-term liabilities 239 62
Total liabilities 509,701 351,483
Commitments and contingencies (Note 13)
MEZZANINE EQUITY    
Series A preferred stock subject to possible redemption, $0.0001 par value, 25,000,000 shares authorized, 5,000 and 5,000 shares issued and outstanding 6,451 5,990
Redeemable noncontrolling interests 640,660 1,005,965
SHAREHOLDERS’ DEFICIT    
Treasury stock, at cost, 2,191,080 shares, at cost (33,525) (12,825)
Paid-in capital 0 0
Accumulated deficit (370,667) (996,453)
Total shareholders’ deficit attributable to the Company (404,174) (1,009,262)
Noncontrolling interests 892 1,228
Total shareholders’ deficit (403,282) (1,008,034)
Total liabilities, mezzanine equity and shareholders’ deficit 753,530 355,404
Class A Common Stock    
SHAREHOLDERS’ DEFICIT    
Common stock 12 10
Class B Common Stock    
SHAREHOLDERS’ DEFICIT    
Common stock 0 0
Class C Common Stock    
SHAREHOLDERS’ DEFICIT    
Common stock 6 6
Nonrelated Party    
Current liabilities    
Accounts payable and accrued expenses 15,719 17,350
Affiliated Entity    
Current liabilities    
Accounts payable and accrued expenses $ 2,226 $ 2,750