Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 16,048 $ 24,813
Marketable securities 33,409 56,969
Accounts receivable, net (including allowance of $231 and $169 as of March 31, 2026 and December 31, 2025, respectively) 7,040 4,178
Contract assets 1,929 1,778
Other current assets 6,003 6,036
Total current assets 64,429 93,774
Property and equipment, net 83,969 80,806
Operating lease right-of-use assets 9,740 10,798
Goodwill 15,193 15,450
Intangible assets, net 8,547 9,079
Other long-term assets, including restricted cash 978 1,085
Total assets 182,856 210,992
Current liabilities    
Accounts payable 15,967 14,866
Contract liabilities, current portion 35,992 35,160
Other accrued expenses 16,562 22,266
Total current liabilities 68,521 72,292
Contract liabilities, non-current 12,435 14,207
Warrant liability 226 106
Operating lease liabilities, net of current portion 7,834 8,755
Other long-term liabilities 2,634 2,704
Total liabilities 91,650 98,064
Commitments and contingencies (Note 9)
Stockholders' equity    
Common stock, $0.0001 par value, 1,000,000,000 Class A and 15,000,000 Class B shares authorized, 33,529,765 Class A and 1,507,325 Class B shares issued and outstanding at March 31, 2026; 33,107,807 Class A and 1,507,325 Class B shares issued and outstanding at December 31, 2025 4 3
Additional paid-in capital 609,684 605,700
Accumulated other comprehensive loss (5,299) (5,435)
Accumulated deficit (513,183) (487,340)
Total stockholders' equity 91,206 112,928
Total liabilities and stockholders' equity $ 182,856 $ 210,992