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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 46,750 $ 50,761
Marketable securities 104,306 69,908
Accounts receivable 512 879
Prepaid expenses and other current assets 4,967 4,464
Total current assets 156,535 126,012
Restricted cash 984 1,450
Property and equipment, net 31,301 26,553
Operating lease right-of-use assets 5,447 5,261
Other assets 117 131
Total assets 194,384 159,407
Current liabilities:    
Accounts payable 1,011 1,455
Accrued expenses and other current liabilities 12,432 11,354
Operating lease liabilities, current 2,153 1,916
Debt, current portion 656 1,065
Second lien loans 12,025 10,872
Total current liabilities 28,277 26,662
Liabilities, redeemable convertible preferred stock and stockholders’ deficit    
Debt, net of current portion 29,460 29,878
Operating lease liabilities, noncurrent 3,509 3,584
Common stock warrants 97,734 158,346
Other liabilities 1,137 804
Total liabilities 160,117 219,274
Commitments and contingencies (Note 9)
Redeemable convertible preferred stock 223,185 223,185
Stockholders’ deficit    
Common stock, $0.0001 par value; 1,980,000 shares authorized; 194,1731 and 175,4401 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively [1] 19 17
Additional paid-in capital 625,883 570,578
Accumulated other comprehensive (loss) income (118) 22
Accumulated deficit (814,702) (853,669)
Total stockholders’ deficit (188,918) (283,052)
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 194,384 $ 159,407
[1]
1 Excludes 6,250,000 shares legally issued and outstanding related to sponsor earn out securities (see Note 3).