Series A company with 160 people - red flag? I will not promote.

series A company that currently has around 160 people and they’re trying to get to 200 by the end of the year. They last raised 32 million November 2025. I feel like that is a large company for only having 32 million. they are an AI company in San Francisco. Should I be concerned about their hiring and growth? When the AI bubble pops if they can’t raise, I feel like they will lay off.