v3.25.3
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 6,199 $ 937
Restricted cash 6,512 6,529
Accounts receivable, net 2,424 2,282
Inventory, net 6,824 6,814
Prepaid expenses and other current assets 2,174 2,261
Total current assets 24,133 18,823
Property and equipment, net 361,807 370,978
Finance lease right-of-use assets 230 277
Operating lease right-of-use assets 53 73
Intangible assets, net 31,406 37,783
Other assets 132 101
Total assets 417,761 428,035
Current liabilities    
Accounts payable 9,234 16,987
Accrued liabilities 4,890 18,082
Short-term debt 0 20,205
Financing obligation 79 51
Operating lease liabilities 31 30
Finance lease liabilities 81 81
Total current liabilities 14,315 55,436
Long-term debt    
Principal amount 312,000 447,719
Plus: Debt premium, net of amortization 174,416 0
Less: Debt discount, net of amortization (1,562) 0
Less: Unamortized deferred financing costs 0 31,142
Long-term debt, net 484,854 416,577
Accrued interest, noncurrent 9,974 0
Financing obligation, noncurrent 50,286 49,856
Operating lease liabilities, noncurrent 34 57
Finance lease liabilities, noncurrent 166 206
Warrant liability 16,271 6,403
Total liabilities 575,900 528,535
Commitments and contingencies (Note 12)
Stockholders' deficit    
Common stock, $0.0001 par value, 400,000,000 shares authorized, 22,124,733 and 8,656,122 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 2 1
Additional paid-in capital 350,771 322,729
Accumulated deficit (508,912) (423,230)
Total stockholders' deficit (158,139) (100,500)
Total liabilities and stockholders' deficit $ 417,761 $ 428,035

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