Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||
current assets: | ||||||||||||||||||
cash and cash equivalents | 1,635,120,000 | 1,795,719,000 | 1,854,879,000 | 1,606,865,000 | 1,353,581,000 | 2,169,489,000 | 1,369,947,000 | 1,164,391,000 | 2,775,339,000 | 900,038,000 | 1,735,765,000 | 1,264,136,000 | 3,157,449,000 | 5,391,844,000 | 6,262,905,000 | 4,796,880,000 | ||
short-term investments | 701,906,000 | 1,030,140,000 | 1,756,026,000 | 2,424,103,000 | 1,862,848,000 | 1,824,900,000 | 2,489,798,000 | 3,258,206,000 | 2,473,955,000 | 2,078,377,000 | 2,177,231,000 | 2,078,045,000 | 1,136,633,000 | 505,000 | ||||
accounts receivable | 137,642,000 | 125,265,000 | 90,328,000 | 112,025,000 | 101,370,000 | 126,930,000 | 51,822,000 | 23,370,000 | 20,570,000 | 2,583,000 | 19,542,000 | 2,659,000 | 1,294,000 | 867,000 | 3,148,000 | 261,000 | ||
inventory | 981,062,000 | 713,269,000 | 471,407,000 | 407,774,000 | 509,888,000 | 565,653,000 | 696,236,000 | 798,974,000 | 849,781,000 | 1,017,570,000 | 834,401,000 | 685,321,000 | 553,045,000 | 333,906,000 | 127,250,000 | 61,155,000 | ||
prepaid expenses | 58,135,000 | 63,336,000 | 51,482,000 | 52,951,000 | 71,637,000 | 72,135,000 | 69,682,000 | 76,368,000 | 73,455,000 | 62,367,000 | 63,548,000 | 57,259,000 | 48,963,000 | 42,325,000 | 70,346,000 | 80,353,000 | 675,344 | 845,672 |
other current assets | 286,245,000 | 223,391,000 | 199,135,000 | 270,218,000 | 102,164,000 | 74,890,000 | 79,670,000 | 70,185,000 | 63,828,000 | 58,897,000 | 81,541,000 | 69,008,000 | 69,105,000 | 95,489,000 | 43,328,000 | 20,213,000 | ||
total current assets | 3,800,110,000 | 3,951,120,000 | 4,423,257,000 | 4,873,936,000 | 4,001,488,000 | 4,833,997,000 | 4,757,155,000 | 5,391,494,000 | 6,256,928,000 | 4,119,832,000 | 4,912,028,000 | 4,156,428,000 | 4,966,489,000 | 5,864,431,000 | 6,506,977,000 | 4,986,801,000 | 1,675,503 | 2,913,787 |
property, plant and equipment | 3,752,065,000 | 3,568,248,000 | 3,322,275,000 | 3,262,612,000 | 3,065,711,000 | 2,971,601,000 | 2,810,867,000 | 2,673,057,000 | 2,474,564,000 | 2,322,884,000 | 2,166,776,000 | 1,954,310,000 | 1,615,435,000 | 1,327,544,000 | 1,182,153,000 | 965,901,000 | ||
right-of-use assets | 227,995,000 | 235,821,000 | 230,780,000 | 211,886,000 | 212,877,000 | 217,699,000 | 221,508,000 | 221,657,000 | 223,890,000 | 213,193,000 | 215,160,000 | 211,844,000 | 198,207,000 | 166,625,000 | 161,974,000 | 143,782,000 | ||
long-term investments | 656,249,000 | 776,677,000 | 921,588,000 | 1,012,223,000 | 687,641,000 | 627,591,000 | 461,029,000 | 479,727,000 | 288,081,000 | 441,727,000 | 529,974,000 | 513,735,000 | 278,055,000 | |||||
other noncurrent assets | 355,199,000 | 306,095,000 | 294,500,000 | 249,443,000 | 204,049,000 | 185,352,000 | 262,159,000 | 175,299,000 | 171,589,000 | 163,295,000 | 55,300,000 | 51,494,000 | 71,233,000 | 43,240,000 | 30,609,000 | 42,700,000 | ||
investments in equity securities of a related party | 31,420,000 | 31,117,000 | 25,569,000 | 37,831,000 | 51,502,000 | 60,801,000 | ||||||||||||
total assets | 8,823,038,000 | 8,869,078,000 | 9,217,969,000 | 9,647,931,000 | 8,223,268,000 | 8,897,041,000 | 8,512,718,000 | 8,941,234,000 | 9,415,052,000 | 7,260,931,000 | 7,879,238,000 | 6,887,811,000 | 7,129,419,000 | 7,401,840,000 | 7,881,713,000 | 6,139,184,000 | 2,071,966,288 | 2,073,181,075 |
liabilities | ||||||||||||||||||
current liabilities: | ||||||||||||||||||
accounts payable | 393,029,000 | 213,656,000 | 121,298,000 | 133,832,000 | 113,634,000 | 101,489,000 | 108,724,000 | 104,602,000 | 140,083,000 | 145,746,000 | 229,084,000 | 79,781,000 | 129,070,000 | 66,440,000 | 41,342,000 | 8,914,000 | ||
finance lease liabilities, current portion | 81,633,000 | 8,141,000 | 6,941,000 | 6,788,000 | 7,099,000 | 7,548,000 | 8,202,000 | 8,964,000 | 9,653,000 | 10,239,000 | 10,586,000 | 9,780,000 | 4,657,000 | 4,485,000 | 4,183,000 | 3,268,000 | ||
other current liabilities | 1,630,322,000 | 1,312,157,000 | 1,203,235,000 | 1,024,671,000 | 752,779,000 | 827,041,000 | 798,990,000 | 862,752,000 | 666,856,000 | 774,108,000 | 634,567,000 | 686,555,000 | 464,819,000 | 412,258,000 | 318,212,000 | 228,277,000 | ||
total current liabilities | 2,104,984,000 | 1,533,954,000 | 1,331,474,000 | 1,165,291,000 | 1,010,886,000 | 1,036,719,000 | 1,008,410,000 | 1,037,860,000 | 885,593,000 | 1,014,960,000 | 937,559,000 | 825,124,000 | 654,096,000 | 511,940,000 | 396,101,000 | 269,408,000 | 2,050,791 | 1,824,919 |
finance lease liabilities, net of current portion | 101,886,000 | 176,113,000 | 75,292,000 | 76,096,000 | 76,533,000 | 75,807,000 | 77,653,000 | 77,019,000 | 79,123,000 | 78,845,000 | 81,336,000 | 79,371,000 | 5,377,000 | 6,039,000 | 6,083,000 | 4,687,000 | ||
long-term debt | 2,040,363,000 | 2,038,928,000 | 2,003,461,000 | 2,002,151,000 | 1,999,547,000 | 1,998,251,000 | 1,996,960,000 | 1,995,673,000 | 1,994,391,000 | 1,993,113,000 | 1,991,840,000 | 1,990,571,000 | 1,989,200,000 | 1,988,047,000 | 1,986,791,000 | |||
other long-term liabilities | 572,091,000 | 600,321,000 | 594,922,000 | 572,800,000 | 555,923,000 | 525,914,000 | 524,339,000 | 345,724,000 | 356,846,000 | 360,770,000 | 378,212,000 | 365,009,000 | 233,725,000 | 194,867,000 | 188,575,000 | 183,096,000 | ||
derivative liabilities associated with redeemable convertible preferred stock | 282,625,000 | 246,250,000 | 357,725,000 | 639,425,000 | ||||||||||||||
total liabilities | 5,101,949,000 | 4,596,897,000 | 4,369,527,000 | 4,475,277,000 | 4,056,060,000 | 4,160,401,000 | 3,661,026,000 | 3,535,219,000 | 3,455,212,000 | 3,629,080,000 | 3,529,537,000 | 3,656,564,000 | 3,419,033,000 | 3,572,371,000 | 3,972,358,000 | 1,294,026,000 | 1,674,146,585 | 1,086,541,457 |
commitments and contingencies | ||||||||||||||||||
redeemable convertible preferred stock | 504,450,000 | |||||||||||||||||
preferred stock 10,000,000 shares authorized as of september 30, 2025 and december 31, 2024, series a redeemable convertible preferred stock, par value 0.0001; 100,000 shares issued and outstanding as of september 30, 2025 and december 31, 2024; liquidation preference of 1,294,204 and 1,138,825 as of september 30, 2025 and december 31, 2024, respectively | 1,109,905,000 | |||||||||||||||||
preferred stock 10,000,000 shares authorized as of september 30, 2025 and december 31, 2024, series b redeemable convertible preferred stock, par value 0.0001; 75,000 shares issued and outstanding as of september 30, 2025 and december 31, 2024; liquidation preference of 909,131 and 800,442 as of september 30, 2025 and december 31, 2024, respectively | 810,806,000 | |||||||||||||||||
total redeemable convertible preferred stock | 1,920,711,000 | 1,864,590,000 | 1,664,767,000 | 1,299,842,000 | ||||||||||||||
stockholders’ equity | ||||||||||||||||||
common stock | 32,000 | 307,000 | 305,000 | 303,000 | 232,000 | 231,000 | 230,000 | 229,000 | 228,000 | 183,000 | 183,000 | 168,000 | 167,000 | 167,000 | 165,000 | 164,000 | ||
additional paid-in capital | 16,604,674,000 | 16,231,681,000 | 16,477,601,000 | 16,808,018,000 | 15,063,541,000 | 15,134,686,000 | 15,066,080,000 | 14,981,851,000 | 14,904,370,000 | 11,809,781,000 | 11,752,138,000 | 10,162,745,000 | 10,099,209,000 | 9,997,176,000 | 9,995,778,000 | 9,865,186,000 | ||
treasury stock | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | -20,716,000 | |||
accumulated other comprehensive income | 13,113,000 | 14,616,000 | 5,350,000 | -2,099,000 | -4,159,000 | -2,400,000 | 4,850,000 | |||||||||||
accumulated deficit | -14,796,725,000 | -13,818,297,000 | -13,278,865,000 | -12,912,694,000 | -11,523,001,000 | -10,879,611,000 | -10,198,752,000 | -9,544,986,000 | -8,914,092,000 | -8,149,860,000 | -7,370,332,000 | -6,897,684,000 | -6,367,583,000 | -6,147,158,000 | -6,065,872,000 | -5,020,192,000 | -1,672,185,472 | -1,083,365,557 |
total stockholders’ equity | 1,800,378,000 | 2,407,591,000 | 3,183,675,000 | 3,872,812,000 | 3,515,897,000 | 4,232,190,000 | 4,851,692,000 | 5,406,015,000 | 5,959,840,000 | 3,631,851,000 | 4,349,701,000 | 3,231,247,000 | 3,710,386,000 | -1,672,180,297 | -1,083,360,382 | |||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 8,823,038,000 | 8,869,078,000 | 9,217,969,000 | 9,647,931,000 | 8,223,268,000 | 8,897,041,000 | ||||||||||||
common stock warrant liability | 1,331,000 | 6,653,000 | 19,514,000 | 19,071,000 | 26,610,000 | 53,664,000 | 78,943,000 | 139,259,000 | 181,392,000 | 140,590,000 | 396,489,000 | 536,635,000 | 871,478,000 | 1,394,808,000 | 836,835,000 | |||
preferred stock 10,000,000 shares authorized as of june 30, 2025 and december 31, 2024, series a redeemable convertible preferred stock, par value 0.0001; 100,000 shares issued and outstanding as of june 30, 2025 and december 31, 2024; liquidation preference of 1,239,789 and 1,138,825 as of june 30, 2025 and december 31, 2024, respectively | 1,084,589,000 | |||||||||||||||||
preferred stock 10,000,000 shares authorized as of june 30, 2025 and december 31, 2024, series b redeemable convertible preferred stock, par value 0.0001; 75,000 shares issued and outstanding as of june 30, 2025 and december 31, 2024; liquidation preference of 871,051 and 800,442 as of june 30, 2025 and december 31, 2024, respectively | 780,001,000 | |||||||||||||||||
preferred stock 10,000,000 shares authorized as of march 31, 2025 and december 31, 2024, series a redeemable convertible preferred stock, par value 0.0001; 100,000 shares issued and outstanding as of march 31, 2025 and december 31, 2024; liquidation preference of 1,187,417 and 1,138,825 as of march 31, 2025 and december 31, 2024, respectively | 955,317,000 | |||||||||||||||||
preferred stock 10,000,000 shares authorized as of march 31, 2025 and december 31, 2024, series b redeemable convertible preferred stock, par value 0.0001; 75,000 shares issued and outstanding as of march 31, 2025 and december 31, 2024; liquidation preference of 835,075 and 800,442 as of march 31, 2025 and december 31, 2024, respectively | 709,450,000 | |||||||||||||||||
preferred stock 10,000,000 shares authorized as of december 31, 2024 and 2023, series a redeemable convertible preferred stock, par value 0.0001; 100,000 and 0 shares issued and outstanding as of december 31, 2024 and 2023, respectively; liquidation preference of 1,138,825 and nil as of december 31, 2024 and 2023, respectively | 730,025,000 | |||||||||||||||||
preferred stock 10,000,000 shares authorized as of december 31, 2024 and 2023, series b redeemable convertible preferred stock, par value 0.0001; 75,000 and 0 shares issued and outstanding as of december 31, 2024 and 2023, respectively; liquidation preference of 800,442 and nil as of december 31, 2024 and 2023, respectively | 569,817,000 | |||||||||||||||||
accrued compensation | 137,374,000 | 100,641,000 | 92,494,000 | 61,542,000 | 69,001,000 | 84,867,000 | 63,322,000 | 49,008,000 | 55,550,000 | 28,757,000 | 32,364,000 | 28,949,000 | ||||||
derivative liability associated with series a redeemable convertible preferred stock | 394,100,000 | |||||||||||||||||
series a redeemable convertible preferred stock, par value 0.0001; 10,000,000 shares authorized as of june 30, 2024 and december 31, 2023; 100,000 and 0 shares issued and outstanding as of june 30, 2024 and december 31, 2023, respectively | 651,311,000 | |||||||||||||||||
derivative liability | 497,100,000 | |||||||||||||||||
total liabilities and stockholders’ equity | 8,512,718,000 | 8,941,234,000 | 9,415,052,000 | 7,260,931,000 | 7,879,238,000 | 6,887,811,000 | 7,129,419,000 | 7,401,840,000 | 2,071,966,288 | 2,073,181,075 | ||||||||
accumulated other comprehensive loss | -10,363,000 | -9,950,000 | -7,537,000 | -11,572,000 | -13,266,000 | -691,000 | ||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||
preferred stock, par value 0.0001; 10,000,000 shares authorized as of december 31, 2022 and 2021; no shares issued and outstanding as of december 31, 2022 and 2021 | ||||||||||||||||||
preferred stock, par value 0.0001; 10,000,000 shares authorized as of september 30, 2022 and december 31, 2021; no shares issued and outstanding as of september 30, 2022 and december 31, 2021 | ||||||||||||||||||
preferred stock, par value 0.0001; 10,000,000 shares authorized as of june 30, 2022 and december 31, 2021; no shares issued and outstanding as of june 30, 2022 and december 31, 2021 | ||||||||||||||||||
liabilities and stockholders' equity | ||||||||||||||||||
preferred stock, par value 0.0001; 10,000,000 shares authorized as of march 31, 2022 and december 31, 2021; no shares issued and outstanding as of march 31, 2022 and december 31, 2021 | ||||||||||||||||||
total stockholders' equity | 3,829,469,000 | 3,909,355,000 | 4,845,158,000 | |||||||||||||||
liabilities, convertible preferred stock and stockholders' equity | ||||||||||||||||||
convertible preferred stock warrant liability | ||||||||||||||||||
convertible preferred stock | ||||||||||||||||||
preferred stock, par value 0.0001; 10,000,000 and 0 shares authorized as of december 31, 2021 and 2020, respectively; no shares issued and outstanding as of december 31, 2021 and 2020, respectively | ||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ equity | 7,881,713,000 | 6,139,184,000 | ||||||||||||||||
other receivable | 27,434,000 | |||||||||||||||||
preferred stock, par value 0.0001; 10,000,000 and 0 shares authorized as of september 30, 2021 and december 31, 2020, respectively; no shares issued and outstanding as of september 30, 2021 and december 31, 2020, respectively | ||||||||||||||||||
| ||||||||||||||||||
current assets | ||||||||||||||||||
cash | 1,000,159 | 2,068,115 | ||||||||||||||||
marketable securities held in trust account | 2,070,290,785 | 2,070,267,288 | ||||||||||||||||
current liabilities | ||||||||||||||||||
accounts payable and accrued expenses | 827,213 | 1,419,919 | ||||||||||||||||
income taxes payable | 23,578 | 105,000 | ||||||||||||||||
convertible promissory note – related party, net of discount | 1,200,000 | 300,000 | ||||||||||||||||
derivative liabilities | 1,599,645,794 | 1,012,266,538 | ||||||||||||||||
deferred underwriting fee payable | 72,450,000 | 72,450,000 | ||||||||||||||||
class a common stock | 2,070,000,000 | 2,070,000,000 | ||||||||||||||||
preferred stock, 0.0001 par value; 1,000,000 shares authorized; none issued or outstanding | ||||||||||||||||||
class b common stock | 5,175 | 5,175 |
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