Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.4
Consolidated Statements of Operations - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Net revenue $ 467,641,000 $ 360,528,000 $ 693,263,000
Cost of net revenue 201,827,000 165,746,000 307,600,000
Gross profit 265,814,000 194,782,000 385,663,000
Operating expenses:      
Research and development 208,599,000 225,189,000 269,504,000
Selling, general and administrative 159,580,000 138,329,000 132,156,000
Impairment losses 0 1,237,000 2,438,000
Restructuring charges 24,525,000 53,379,000 19,786,000
Total operating expenses 392,704,000 418,134,000 423,884,000
Loss from operations (126,890,000) (223,352,000) (38,221,000)
Interest income 3,385,000 6,386,000 6,053,000
Interest expense (10,056,000) (10,874,000) (10,702,000)
Other expense, net (7,333,000) (10,877,000) (20,940,000)
Total other income (expense), net (14,004,000) (15,365,000) (25,589,000)
Loss before income taxes (140,894,000) (238,717,000) (63,810,000)
Income tax provision (benefit) (4,213,000) 6,481,000 9,337,000
Net loss $ (136,681,000) $ (245,198,000) $ (73,147,000)
Net loss per share:      
Basic ( in usd per share) $ (1.58) $ (2.93) $ (0.91)
Diluted (in usd per share) $ (1.58) $ (2.93) $ (0.91)
Shares used to compute net loss per share:      
Basic (in shares) 86,588 83,600 80,719
Diluted (in shares) 86,588 83,600 80,719