Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||||
cash and cash equivalents | 37,815,000 | 52,332,000 | 42,455,000 | 75,218,000 | 51,239,000 | 170,667,000 | 51,039,000 | 83,155,000 | 69,246,000 | 154,758,000 | 109,931,000 | 61,904,000 | 74,357,000 | 96,041,000 | 84,514,000 | 173,314,000 | 190,021,000 | 223,503,000 | 236,865,000 | 183,351,000 | 158,136,000 | 280,379,000 | 135,897,000 | 175,126,000 | 160,990,000 | 112,584,000 | 92,748,000 | 92,432,000 | 83,141,000 |
short-term investments | 214,379,000 | 220,788,000 | 237,588,000 | 217,258,000 | 240,325,000 | 273,961,000 | 333,821,000 | 365,542,000 | 396,259,000 | 337,204,000 | 361,293,000 | 455,416,000 | 477,872,000 | 394,451,000 | 364,536,000 | 283,988,000 | 293,464,000 | 364,204,000 | 462,716,000 | 644,559,000 | 682,886,000 | 619,271,000 | 357,026,000 | 355,407,000 | 340,254,000 | 389,840,000 | 373,392,000 | 366,952,000 | 161,080,000 |
prepaid expenses and other current assets | 8,525,000 | 9,535,000 | 11,533,000 | 10,910,000 | 12,851,000 | 12,496,000 | 10,504,000 | 10,418,000 | 7,949,000 | 10,139,000 | 10,241,000 | 11,504,000 | 16,832,000 | 22,536,000 | 20,694,000 | 14,021,000 | 19,373,000 | 14,464,000 | 16,480,000 | 17,220,000 | 13,036,000 | 9,927,000 | 11,491,000 | 14,043,000 | 8,513,000 | 9,118,000 | 10,487,000 | 8,598,000 | 3,132,000 |
total current assets | 260,719,000 | 282,655,000 | 291,576,000 | 303,386,000 | 304,415,000 | 457,124,000 | 395,364,000 | 459,115,000 | 473,454,000 | 502,101,000 | 481,465,000 | 528,824,000 | 569,061,000 | 513,028,000 | 469,744,000 | 471,323,000 | 502,858,000 | 602,171,000 | 716,061,000 | 845,130,000 | 854,058,000 | 909,577,000 | 504,414,000 | 544,576,000 | 509,757,000 | 511,542,000 | 476,627,000 | 467,982,000 | 247,353,000 |
long-term investments | 24,944,000 | 29,510,000 | 55,506,000 | 80,673,000 | 111,821,000 | 12,405,000 | 32,170,000 | 52,586,000 | 42,788,000 | 59,151,000 | 85,108,000 | 195,637,000 | 284,093,000 | 352,179,000 | 378,222,000 | 325,523,000 | 264,573,000 | 204,208,000 | 207,993,000 | 210,794,000 | 60,121,000 | 58,322,000 | 100,702,000 | 147,769,000 | 214,588,000 | 261,966,000 | 154,045,000 | ||
operating lease right-of-use asset | 40,935,000 | 41,966,000 | 44,075,000 | 45,205,000 | 46,313,000 | 58,385,000 | 64,483,000 | 63,703,000 | 78,643,000 | 80,314,000 | 81,964,000 | 83,592,000 | 85,245,000 | 86,837,000 | 57,057,000 | 58,030,000 | 38,764,000 | 39,474,000 | 40,189,000 | 41,295,000 | 41,557,000 | 42,432,000 | 43,836,000 | 44,495,000 | 31,437,000 | 31,880,000 | 32,394,000 | 33,015,000 | 24,996,000 |
property and equipment | 75,896,000 | 78,858,000 | 82,992,000 | 86,056,000 | 88,989,000 | 92,080,000 | 95,931,000 | 99,478,000 | 102,826,000 | 106,386,000 | 109,849,000 | 112,839,000 | 114,442,000 | 117,216,000 | 120,200,000 | 122,990,000 | 125,883,000 | 125,459,000 | 123,146,000 | 118,840,000 | 102,653,000 | 84,605,000 | 66,349,000 | 56,449,000 | 45,943,000 | 35,817,000 | 20,426,000 | 8,595,000 | 4,693,000 |
deposit placed in escrow | 23,472,000 | 23,484,000 | 21,641,000 | 20,773,000 | 22,320,000 | 21,429,000 | |||||||||||||||||||||||
restricted cash | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 10,292,000 | 9,449,000 | 9,449,000 | 9,449,000 | 9,449,000 | 9,449,000 | 4,299,000 | 4,299,000 | 4,299,000 | 4,299,000 | 4,299,000 | 4,299,000 | 1,299,000 | 937,000 |
other long-term assets | 3,513,000 | 3,828,000 | 1,900,000 | 2,325,000 | 4,970,000 | 6,439,000 | 5,159,000 | 6,604,000 | 9,576,000 | 9,382,000 | 9,389,000 | 9,564,000 | 9,378,000 | 8,938,000 | 9,042,000 | 5,815,000 | 6,160,000 | 5,829,000 | 6,275,000 | 5,169,000 | 2,274,000 | 2,160,000 | 4,675,000 | 4,618,000 | 3,105,000 | 2,238,000 | 432,000 | 244,000 | 2,307,000 |
total assets | 439,771,000 | 470,593,000 | 507,982,000 | 548,710,000 | 589,120,000 | 646,883,000 | 586,350,000 | 642,837,000 | 712,326,000 | 770,971,000 | 746,871,000 | 817,079,000 | 887,572,000 | 947,644,000 | 964,632,000 | 1,038,634,000 | 1,079,246,000 | 1,126,724,000 | 1,179,044,000 | 1,227,829,000 | 1,222,500,000 | 1,258,544,000 | 688,523,000 | 717,802,000 | 695,544,000 | 733,997,000 | 749,369,000 | 773,855,000 | 435,235,000 |
liabilities and stockholders’ equity | |||||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||||
accounts payable | 3,699,000 | 4,851,000 | 5,058,000 | 5,394,000 | 5,506,000 | 12,936,000 | 5,779,000 | 5,897,000 | 6,205,000 | 10,229,000 | 14,688,000 | 13,890,000 | 11,045,000 | 9,713,000 | 8,708,000 | 10,255,000 | 11,499,000 | 11,005,000 | 14,875,000 | 10,390,000 | 10,151,000 | 9,057,000 | 7,199,000 | 9,250,000 | 8,047,000 | 23,503,000 | 12,976,000 | 12,338,000 | 3,083,000 |
accrued and other current liabilities | 28,134,000 | 26,824,000 | 24,964,000 | 30,129,000 | 27,065,000 | 24,369,000 | 25,029,000 | 31,096,000 | 31,195,000 | 44,263,000 | 44,624,000 | 39,743,000 | 36,938,000 | 34,360,000 | 27,763,000 | 37,496,000 | 41,626,000 | 34,688,000 | 39,735,000 | 44,938,000 | 39,979,000 | 31,838,000 | 19,619,000 | 23,829,000 | 25,307,000 | 14,497,000 | 14,289,000 | 17,121,000 | 16,779,000 |
total current liabilities | 31,833,000 | 31,675,000 | 30,022,000 | 35,523,000 | 32,571,000 | 37,305,000 | 30,894,000 | 37,079,000 | 37,636,000 | 54,721,000 | 59,585,000 | 54,518,000 | 48,872,000 | 44,909,000 | 36,877,000 | 48,174,000 | 53,490,000 | 45,998,000 | 54,849,000 | 94,320,000 | 50,130,000 | 40,895,000 | 26,818,000 | 33,079,000 | 33,354,000 | 38,000,000 | 27,265,000 | 29,459,000 | 159,477,000 |
lease liability, noncurrent | 77,134,000 | 79,241,000 | 81,292,000 | 83,247,000 | 86,989,000 | 88,916,000 | 88,346,000 | 95,122,000 | 69,929,000 | 50,809,000 | 50,846,000 | 51,067,000 | 51,536,000 | 51,349,000 | 37,689,000 | 34,867,000 | 34,811,000 | 34,456,000 | 25,661,000 | ||||||||||
other long-term liabilities | 15,475,000 | 15,116,000 | 11,275,000 | 7,761,000 | 7,666,000 | 7,551,000 | 5,173,000 | 5,179,000 | 1,486,000 | 1,523,000 | 1,510,000 | 1,569,000 | 2,033,000 | 2,554,000 | 3,490,000 | 4,125,000 | 5,175,000 | 5,705,000 | 2,791,000 | 3,083,000 | 2,793,000 | 3,163,000 | 3,650,000 | 4,351,000 | 4,785,000 | 5,495,000 | 6,065,000 | 6,776,000 | 7,488,000 |
total liabilities | 124,442,000 | 126,032,000 | 122,589,000 | 126,531,000 | 125,372,000 | 131,845,000 | 124,983,000 | 130,604,000 | 129,224,000 | 148,065,000 | 154,609,000 | 151,209,000 | 147,611,000 | 145,695,000 | 109,402,000 | 122,228,000 | 109,304,000 | 102,912,000 | 109,265,000 | 148,212,000 | 103,769,000 | 95,125,000 | 82,004,000 | 88,779,000 | 75,828,000 | 78,362,000 | 68,141,000 | 70,691,000 | 192,626,000 |
commitments and contingencies | |||||||||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of september 30, 2025 and december 31, 2024; no shares were issued and outstanding as of september 30, 2025 and december 31, 2024 | |||||||||||||||||||||||||||||
common stock | 223,000 | 220,000 | 219,000 | 212,000 | 210,000 | 209,000 | 170,000 | 169,000 | 168,000 | 167,000 | 146,000 | 144,000 | 144,000 | 144,000 | 143,000 | 142,000 | 142,000 | 142,000 | 141,000 | 140,000 | 140,000 | 139,000 | 125,000 | 124,000 | 122,000 | 122,000 | 121,000 | 121,000 | 31,000 |
additional paid-in capital | 2,286,770,000 | 2,274,885,000 | 2,264,687,000 | 2,241,879,000 | 2,223,265,000 | 2,209,200,000 | 2,089,357,000 | 2,075,252,000 | 2,059,333,000 | 2,039,263,000 | 1,932,734,000 | 1,911,632,000 | 1,893,908,000 | 1,871,262,000 | 1,847,534,000 | 1,822,179,000 | 1,798,678,000 | 1,774,298,000 | 1,749,097,000 | 1,725,552,000 | 1,695,411,000 | 1,673,026,000 | 1,055,386,000 | 1,023,876,000 | 952,820,000 | 937,709,000 | 922,816,000 | 914,265,000 | 12,693,000 |
accumulated deficit | -1,971,899,000 | -1,930,499,000 | -1,879,556,000 | -1,819,823,000 | -1,759,884,000 | -1,693,591,000 | -1,627,233,000 | -1,562,233,000 | -1,473,988,000 | -1,412,673,000 | -1,334,684,000 | -1,235,980,000 | -1,141,133,000 | -1,057,985,000 | -983,198,000 | -903,348,000 | -828,480,000 | -750,294,000 | -679,358,000 | -646,343,000 | -577,773,000 | -511,576,000 | -450,602,000 | -396,122,000 | -335,092,000 | -284,357,000 | -243,114,000 | -211,528,000 | -181,019,000 |
accumulated other comprehensive loss | 235,000 | -45,000 | -89,000 | -780,000 | -927,000 | -955,000 | -2,411,000 | -3,851,000 | -5,934,000 | -9,926,000 | -12,958,000 | -11,472,000 | -148,000 | ||||||||||||||||
total stockholders’ equity | 315,329,000 | 344,561,000 | 385,393,000 | 422,179,000 | 463,748,000 | 515,038,000 | 461,367,000 | 512,233,000 | 583,102,000 | 622,906,000 | 592,262,000 | 665,870,000 | 739,961,000 | 801,949,000 | 855,230,000 | 916,406,000 | 969,942,000 | 1,023,812,000 | 1,069,779,000 | 1,079,617,000 | 1,118,731,000 | 1,163,419,000 | 606,519,000 | 629,023,000 | 619,716,000 | 655,635,000 | 681,228,000 | 703,164,000 | |
total liabilities and stockholders’ equity | 439,771,000 | 470,593,000 | 507,982,000 | 548,710,000 | 589,120,000 | 646,883,000 | 586,350,000 | 642,837,000 | 712,326,000 | 770,971,000 | 746,871,000 | 817,079,000 | 887,572,000 | 947,644,000 | 964,632,000 | 1,038,634,000 | 1,079,246,000 | 1,126,724,000 | 1,179,044,000 | 1,227,829,000 | 1,222,500,000 | 1,258,544,000 | 688,523,000 | 717,802,000 | 695,544,000 | 733,997,000 | 749,369,000 | ||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of june 30, 2025 and december 31, 2024; no shares were issued and outstanding as of june 30, 2025 and december 31, 2024 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of march 31, 2025 and december 31, 2024; no shares were issued and outstanding as of march 31, 2025 and december 31, 2024 | |||||||||||||||||||||||||||||
accumulated other comprehensive income | 43,000 | -2,567,000 | -398,000 | -334,000 | -101,000 | 268,000 | 953,000 | 1,830,000 | 1,610,000 | 1,145,000 | 1,866,000 | 2,161,000 | 1,405,000 | 306,000 | |||||||||||||||
equity method investments | 1,134,000 | 2,716,000 | 3,645,000 | ||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 authorized as of december 31, 2024 and december 31, 2023; no shares were issued and outstanding as of december 31, 2024 and december 31, 2023 | |||||||||||||||||||||||||||||
operating lease liability, noncurrent | 85,135,000 | ||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of september 30, 2024 and december 31, 2023; no shares were issued and outstanding as of september 30, 2024 and december 31, 2023 | |||||||||||||||||||||||||||||
accumulated other comprehensive income/ | 157,000 | ||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of june 30, 2024 and december 31, 2023; no shares were issued and outstanding as of june 30, 2024 and december 31, 2023 | |||||||||||||||||||||||||||||
deferred revenue | 86,000 | 86,000 | 236,000 | 229,000 | 273,000 | 885,000 | 889,000 | 836,000 | 406,000 | 423,000 | 365,000 | 305,000 | 239,000 | 38,992,000 | |||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of march 31, 2024 and december 31, 2023; no shares were issued and outstanding as of march 31, 2024 and december 31, 2023 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 authorized as of december 31, 2023 and december 31, 2022; no shares were issued and outstanding as of december 31, 2023 and december 31, 2022 | |||||||||||||||||||||||||||||
equity method investment | 5,365,000 | 9,910,000 | 11,124,000 | 12,817,000 | 14,046,000 | 15,696,000 | 14,204,000 | 18,005,000 | 17,910,000 | 18,819,000 | 19,351,000 | 3,738,000 | 4,516,000 | 4,677,000 | 4,829,000 | 4,892,000 | |||||||||||||
lease liability, non-current | 90,102,000 | 91,821,000 | 93,514,000 | 96,706,000 | 98,232,000 | 69,035,000 | 50,639,000 | 51,209,000 | 51,625,000 | ||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of september 30, 2023 and december 31, 2022; no shares were issued and outstanding as of september 30, 2023 and december 31, 2022 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of june 30, 2023 and december 31, 2022; no shares were issued and outstanding as of june 30, 2023 and december 31, 2022 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of march 31, 2023 and december 31, 2022; no shares were issued and outstanding as of march 31, 2023 and december 31, 2022 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 authorized as of december 31, 2022 and december 31, 2021; no shares were issued and outstanding as of december 31, 2022 and december 31, 2021 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of september 30, 2022 and december 31, 2021; no shares were issued and outstanding as of september 30, 2022 and december 31, 2021 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of june 30, 2022 and december 31, 2021; no shares were issued and outstanding as of june 30, 2022 and december 31, 2021 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of march 31, 2022 and december 31, 2021; no shares were issued and outstanding as of march 31, 2022 and december 31, 2021 | |||||||||||||||||||||||||||||
accumulated other comprehensive | -9,249,000 | ||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 authorized as of december 31, 2021 and december 31, 2020; no shares were issued and outstanding as of december 31, 2021 and december 31, 2020 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of september 30, 2021 and december 31, 2020; no shares were issued and outstanding as of september 30, 2021 and december 31, 2020 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of june 30, 2021 and december 31, 2020; no shares were issued and outstanding as of june 30, 2021 and december 31, 2020 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of march 31, 2021 and december 31, 2020; no shares were issued and outstanding as of march 31, 2021 and december 31, 2020 | |||||||||||||||||||||||||||||
intangible assets | 151,000 | 301,000 | 452,000 | 603,000 | 754,000 | 904,000 | |||||||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ equity | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 authorized as of december 31, 2020 and december 31, 2019; no shares were issued and outstanding as of december 31, 2020 and december 31, 2019 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of september 30, 2020 and december 31, 2019; no shares were issued and outstanding as of september 30, 2020 and december 31, 2019 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of june 30, 2020 and december 31, 2019; no shares were issued and outstanding as of june 30, 2020 and december 31, 2019 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of march 31, 2020 and december 31, 2019; no shares were issued and outstanding as of march 31, 2020 and december 31, 2019 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 authorized as of december 31, 2019 and december 31, 2018, respectively; no shares were issued and outstanding as of december 31, 2019 and december 31, 2018 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of september 30, 2019 and december 31, 2018; no shares were issued and outstanding as of september 30, 2019 and december 31, 2018 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of june 30, 2019 and december 31, 2018; no shares were issued and outstanding as of june 30, 2019 and december 31, 2018 | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 shares authorized as of march 31, 2019 and december 31, 2018; no shares were issued and outstanding as of march 31, 2019 and december 31, 2018 | |||||||||||||||||||||||||||||
convertible preferred stock, 0.001 par value; no shares and 1,000,000 shares authorized as of december 31, 2018 and december 31, 2017, respectively; no shares issued and outstanding as of december 31, 2018 and december 31, 2017 | |||||||||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||||||||
preferred stock, 0.001 par value: 10,000,000 and no shares authorized as of december 31, 2018 and december 31, 2017, respectively; no shares were issued and outstanding as of december 31, 2018 | |||||||||||||||||||||||||||||
notes receivable from common stockholders | |||||||||||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ equity | 773,855,000 | ||||||||||||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ deficit | |||||||||||||||||||||||||||||
convertible notes payable | 139,615,000 | ||||||||||||||||||||||||||||
convertible preferred stock, 0.001 par value; 11,743,987 and 1,000,000 shares authorized as of september 30, 2018 and december 31, 2017, respectively; 11,743,987 shares and no shares issued and outstanding as of september 30, 2018 and december 31, 2017, respectively; aggregate liquidation preference of 411.8 million as of september 30, 2018 | 411,052,000 | ||||||||||||||||||||||||||||
stockholders’ deficit: | |||||||||||||||||||||||||||||
total stockholders’ deficit | -168,443,000 | ||||||||||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ deficit | 435,235,000 |
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