Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash, cash equivalents and restricted cash $ 488,866 $ 95,183
Accounts receivable, net 28,905 37,251
Contract assets 84,770 44,019
Inventory, net 99,778 55,847
Prepaid expenses and other current assets 19,302 20,512
Total current assets 721,621 252,812
Property, plant and equipment, net of accumulated depreciation of $22,222 and $14,558 57,165 49,199
Right-of-use assets 35,176 31,741
Intangible assets, net of accumulated amortization of $71,348 and $46,192 311,698 336,153
Goodwill 769,638 779,114
Other non-current assets 3,305 118
Total assets 1,898,603 1,449,137
Current liabilities:    
Accounts payable 48,689 32,295
Notes payable to sellers 3,171 2,171
Short-term debt, including current portion of long-term debt 4,500 5,162
Short-term operating lease liabilities 4,477 4,088
Short-term finance lease liabilities 643 595
Accrued expenses 29,593 32,034
Deferred revenue 72,555 60,119
Other current liabilities 8,380 19,150
Total current liabilities 172,008 155,614
Long-term debt, net 42,502 80,036
Long-term operating lease liabilities 33,466 30,471
Long-term finance lease liabilities 1,162 1,276
Warrant liabilities 0 4,213
Deferred tax liabilities 39,195 38,358
Other non-current liabilities 1,135 2,119
Total liabilities 289,468 312,087
Commitments and contingencies (Note L – Commitments and Contingencies)
Convertible preferred stock, $0.0001 par value, 125,292.00 shares authorized; issued and outstanding: 2026—none and 2025—46,505.13. Liquidation preference: 2026—none and 2025—$118,434 (Note M – Convertible Preferred Stock) 0 77,034
Shareholders’ Equity (Deficit):    
Preferred stock, $0.0001 par value, 99,874,708 shares authorized; none issued and outstanding 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized; issued and outstanding 2026—250,181,098 and 2025—191,915,804 25 19
Treasury stock, at cost: 2026—1,128,577 shares and 2025—1,036,294 shares (8,307) (7,342)
Additional paid-in capital 2,384,478 1,678,799
Accumulated deficit (762,413) (621,762)
Accumulated other comprehensive income (loss) (4,648) 10,302
Total shareholders’ equity (deficit) 1,609,135 1,060,016
Total liabilities, convertible preferred stock and equity (deficit) $ 1,898,603 $ 1,449,137