Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 152,186 $ 79,381
Accounts receivable, net 47,387 29,783
Inventory 7,772 9,624
Prepaid expenses and other current assets 2,964 4,895
Total current assets 210,363 123,841
Property and equipment, net 2,320 2,519
Operating lease right-of-use asset, net 11,028 12,302
Restricted cash 1,220 1,220
Equity investments, at fair value 29,452 17,660
Intangible assets, net 24,541 27,605
Other assets 1,291 401
Total assets 280,215 185,548
Current liabilities    
Accounts payable and accrued expenses 56,628 47,125
Income taxes payable 5,119 356
Common stock warrant liabilities 0 1
Operating lease liabilities, short-term 2,513 2,127
Partner company notes payable, short-term 7,500 0
Other current liabilities 0 135
Total current liabilities 71,760 49,744
Notes payable, long-term, net 18,077 52,417
Operating lease liabilities, long-term 10,861 12,672
Partner company redeemable perpetual preferred liability 0 7,085
Other long-term liabilities 2,496 1,447
Total liabilities 103,194 123,365
Commitments and contingencies (Note 14)
Stockholders' equity    
Cumulative redeemable perpetual preferred stock, $0.001 par value, 15,000,000 authorized, 5,000,000 designated Series A shares, 3,427,138 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively, liquidation value of $25.00 per share 3 3
Common stock, $0.001 par value, 200,000,000 shares authorized, 33,490,362 and 31,364,094 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 33 31
Additional paid-in-capital 789,953 783,891
Accumulated deficit (629,992) (734,052)
Total stockholders' equity attributed to the Company 159,997 49,873
Non-controlling interests 17,024 12,310
Total stockholders' equity 177,021 62,183
Total liabilities and stockholders' equity 280,215 185,548
Related party    
Current assets    
Other receivables $ 54 $ 158