v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Synq3, Inc
Conversion Upon Exercise Of Warrants
Conversion Of Class B Common Stock
Conversion Of Series A Preferred Stock
Class A Common Stock
Class B Common Stock
Preferred Stock
Preferred Stock
Conversion Of Series A Preferred Stock
Common Stock
Common Stock
Class A Common Stock
Common Stock
Class A Common Stock
Synq3, Inc
Common Stock
Class A Common Stock
Conversion Upon Exercise Of Warrants
Common Stock
Class A Common Stock
Conversion Of Class B Common Stock
Common Stock
Class A Common Stock
Conversion Of Series A Preferred Stock
Common Stock
Class B Common Stock
Common Stock
Class B Common Stock
Conversion Of Class B Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Synq3, Inc
Additional Paid-in Capital
Conversion Upon Exercise Of Warrants
Additional Paid-in Capital
Conversion Of Series A Preferred Stock
Accumulated Deficit
Accumulated Other Comprehensive Income
Balance at the beginning (in shares) at Dec. 31, 2023               475,005                              
Balance at the beginning at Dec. 31, 2023 $ 28,168             $ 14,187     $ 22         $ 4   $ 606,135       $ (592,379) $ 199
Balance at the beginning (in shares) at Dec. 31, 2023                     216,943,349         37,485,408              
Increase (Decrease) in Stockholders' Equity                                              
Shares sold (in shares)                     59,135,836                        
Issuance of shares 231,551                   $ 6             231,545          
Acquisition (in shares)                       5,755,910                      
Acquisitions   $ 9,687                   $ 1             $ 9,686        
Issuance of restricted shares of common stock, subject to repurchase in connection with acquisition (in shares)                     2,033,156                        
Issuance of Class A common stock for equity incentive awards (in shares)                     7,641,157                        
Issuance of Class A common stock for equity incentive awards 10,628                                 10,628          
Issuance of Class A common stock upon conversion of Class B common shares and Series A Preferred Stock (in shares)                 (475,005)         4,750,000 16,624,215   (4,750,000)            
Issuance of Class A common stock upon conversion of Class B common shares and Series A Preferred Stock       $ 0 $ 0       $ (14,187)         $ 1 $ 1   $ (1)       $ 14,186    
Issuance of Class A common stock in connection with the cashless exercise of warrants (in shares)                   2,269,982                          
Stock-based compensation 14,232                                 14,232          
Net income (loss) (70,331)                                         (70,331)  
Other comprehensive income 6                                           6
Balance at the end (in shares) at Jun. 30, 2024               0                              
Balance at the end at Jun. 30, 2024 223,941             $ 0     $ 31         $ 3   886,412       (662,710) 205
Balance at the end (in shares) at Jun. 30, 2024                     315,153,605         32,735,408              
Balance at the beginning (in shares) at Mar. 31, 2024               70,241                              
Balance at the beginning at Mar. 31, 2024 155,479             $ 2,097     $ 29         $ 3   778,503       (625,388) 235
Balance at the beginning (in shares) at Mar. 31, 2024                     288,822,818         32,735,408              
Increase (Decrease) in Stockholders' Equity                                              
Shares sold (in shares)                     21,228,617                        
Issuance of shares 97,712                   $ 2             97,710          
Issuance of Class A common stock for equity incentive awards (in shares)                     2,548,809                        
Issuance of Class A common stock for equity incentive awards 1,457                                 1,457          
Issuance of Class A common stock upon conversion of Class B common shares and Series A Preferred Stock (in shares)                 (70,241)           2,553,361                
Issuance of Class A common stock upon conversion of Class B common shares and Series A Preferred Stock         $ 0       $ (2,097)                       $ 2,097    
Measurement period adjustments related to the acquisition of SYNQ3   (608)                                 (608)        
Stock-based compensation 7,253                                 7,253          
Net income (loss) (37,322)                                         (37,322)  
Other comprehensive income (30)                                           (30)
Balance at the end (in shares) at Jun. 30, 2024               0                              
Balance at the end at Jun. 30, 2024 $ 223,941             $ 0     $ 31         $ 3   886,412       (662,710) 205
Balance at the end (in shares) at Jun. 30, 2024                     315,153,605         32,735,408              
Balance at the beginning (in shares) at Dec. 31, 2024 0             0                              
Balance at the beginning at Dec. 31, 2024 $ 182,653             $ 0     $ 35         $ 3   1,125,470       (943,060) 205
Balance at the beginning (in shares) at Dec. 31, 2024           361,096,457 32,535,408       361,096,457         32,535,408              
Increase (Decrease) in Stockholders' Equity                                              
Net income (loss) 129,900                                            
Balance at the end (in shares) at Mar. 31, 2025               0                              
Balance at the end at Mar. 31, 2025 $ 396,993             $ 0     $ 36         $ 3   1,209,871       (813,128) 211
Balance at the end (in shares) at Mar. 31, 2025                     368,869,290         32,535,408              
Balance at the beginning (in shares) at Dec. 31, 2024 0             0                              
Balance at the beginning at Dec. 31, 2024 $ 182,653             $ 0     $ 35         $ 3   1,125,470       (943,060) 205
Balance at the beginning (in shares) at Dec. 31, 2024           361,096,457 32,535,408       361,096,457         32,535,408              
Increase (Decrease) in Stockholders' Equity                                              
Shares sold (in shares)                     4,894,900                        
Issuance of shares 73,974                   $ 1             73,973          
Acquisition (in shares)                       472,501                      
Acquisitions   3,922                                 3,922        
Issuance of Class A common stock for equity incentive awards (in shares)                     6,590,898                        
Issuance of Class A common stock for equity incentive awards 2,766                                 2,766          
Issuance of Class A common stock upon conversion of Class B common shares and Series A Preferred Stock (in shares)                         1,110                    
Issuance of Class A common stock upon conversion of Class B common shares and Series A Preferred Stock     $ 13                                 $ 13      
Stock-based compensation 41,250                                 41,250          
Net income (loss) 55,208                                         55,208  
Other comprehensive income $ (27)                                           (27)
Balance at the end (in shares) at Jun. 30, 2025 0             0                              
Balance at the end at Jun. 30, 2025 $ 359,759             $ 0     $ 36         $ 3   1,247,394       (887,852) 178
Balance at the end (in shares) at Jun. 30, 2025           373,055,866 32,535,408       373,055,866         32,535,408              
Balance at the beginning (in shares) at Mar. 31, 2025               0                              
Balance at the beginning at Mar. 31, 2025 396,993             $ 0     $ 36         $ 3   1,209,871       (813,128) 211
Balance at the beginning (in shares) at Mar. 31, 2025                     368,869,290         32,535,408              
Increase (Decrease) in Stockholders' Equity                                              
Shares sold (in shares)                     646,000                        
Issuance of shares 7,691                   $ 0             7,691          
Acquisition (in shares)                       472,501                      
Acquisitions   $ 3,922                                 $ 3,922        
Issuance of Class A common stock for equity incentive awards (in shares)                     3,068,075                        
Issuance of Class A common stock for equity incentive awards 2,100                                 2,100          
Stock-based compensation 23,810                                 23,810          
Net income (loss) (74,724)                                         (74,724)  
Other comprehensive income $ (33)                                           (33)
Balance at the end (in shares) at Jun. 30, 2025 0             0                              
Balance at the end at Jun. 30, 2025 $ 359,759             $ 0     $ 36         $ 3   $ 1,247,394       $ (887,852) $ 178
Balance at the end (in shares) at Jun. 30, 2025           373,055,866 32,535,408       373,055,866         32,535,408