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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 64,950 $ 50,761
Marketable securities 25,242 69,908
Accounts receivable 500 879
Prepaid expenses and other current assets 4,646 4,464
Total current assets 95,338 126,012
Restricted cash 850 1,450
Property and equipment, net 29,746 26,553
Operating lease right-of-use assets 4,762 5,261
Other assets 124 131
Total assets 130,820 159,407
Current liabilities:    
Accounts payable 1,032 1,455
Accrued expenses and other current liabilities 10,817 11,354
Operating lease liabilities, current 1,733 1,916
Debt, current portion 936 1,065
Second lien loans 11,346 10,872
Total current liabilities 25,864 26,662
Debt, net of current portion 29,752 29,878
Operating lease liabilities, noncurrent 3,253 3,584
Common stock warrants 93,688 158,346
Other liabilities 996 804
Total liabilities 153,553 219,274
Commitments and contingencies (Note 8)
Redeemable convertible preferred stock 223,185 223,185
Stockholders’ deficit    
Common stock, $0.0001 par value; 1,980,000 shares authorized; 177,4761 and 175,4401 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively [1] 18 17
Additional paid-in capital 581,245 570,578
Accumulated other comprehensive income (loss) (2) 22
Accumulated deficit (827,179) (853,669)
Total stockholders’ deficit (245,918) (283,052)
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit 130,820 159,407
Series A cumulative redeemable convertible preferred stock    
Current liabilities:    
Redeemable convertible preferred stock $ 223,185 $ 223,185
[1]
1 Excludes 6,250,000 shares legally issued and outstanding related to sponsor earn out securities (see Note 3).