Convertible Preferred Shares and Redeemable Convertible Preferred Shares (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

Disclosure Of Convertible Preferred Shares And Redeemable Convertible Preferred Shares [Abstract]

Summary Of Convertible Preferred Shares And Redeemable Convertible Preferred Shares

Convertible preferred shares and redeemable convertible preferred shares consisted of the following (in thousands, except share and per share amounts):


	As of June 30, 2025
	Shares Authorized		Shares Issued and Outstanding		Issuance price per share		Carrying Value		Liquidation Preference
Convertible preferred shares
Series A		326,079,495		326,079,495	$	0.0583	$	18,967	$	—

Total convertible preferred shares		326,079,495		326,079,495			$	18,967	$	—

Redeemable convertible preferred shares
Series Seed		71,428,571		71,428,571	$	0.0070	$	994	$	1,000
Series B		239,156,361		239,156,361		0.0876		30,088		30,982
Series C-1		290,202,451		270,636,854		0.2240		84,780		86,513
Series C-2		351,591,430		127,875,914		0.2844		49,377		50,929

Total redeemable convertible preferred shares		952,378,813		709,097,700			$	165,239	$	169,424


	As of December 31, 2024
	Shares Authorized		Shares Issued and Outstanding		Issuance price per share		Carrying Value		Liquidation Preference
Convertible preferred shares
Series A		326,079,495		326,079,495	$	0.0583	$	18,967	$	—

Total convertible preferred shares		326,079,495		326,079,495			$	18,967	$	—

Redeemable convertible preferred shares
Series Seed		71,428,571		71,428,571	$	0.0070	$	919	$	1,000
Series B		239,156,361		239,156,361		0.0876		28,966		29,943
Series C-1		290,202,451		270,636,854		0.2240		81,714		83,507
Series C-2		351,591,430		127,875,914		0.2844		47,440		49,125

Total redeemable convertible preferred shares		952,378,813		709,097,700			$	159,039	$	163,575

Convertible preferred shares and redeemable convertible preferred shares consisted of the following (in thousands, except share and per share amounts):


	As of December 31, 2024
	Shares Authorized		Shares Issued and Outstanding		Issuance price per share		Carrying Value		Liquidation Preference
Convertible preferred shares
Series A		326,079,495		326,079,495	$	0.0583	$	18,967	$	—

Total convertible preferred shares		326,079,495		326,079,495			$	18,967	$	—

Redeemable convertible preferred shares
Series Seed		71,428,571		71,428,571	$	0.0070	$	919	$	1,000
Series B		239,156,361		239,156,361		0.0876		28,966		29,943
Series C-1		290,202,451		270,636,854		0.2240		81,714		83,507
Series C-2		351,591,430		127,875,914		0.2844		47,440		49,125

Total redeemable convertible preferred shares		952,378,813		709,097,700			$	159,039	$	163,575


	As of December 31, 2023
	Shares Authorized		Shares Issued and Outstanding		Issuance price per share		Carrying Value		Liquidation Preference
Convertible preferred shares
Series A		326,079,495		326,079,495	$	0.0583	$	18,967	$	—

Total convertible preferred shares		326,079,495		326,079,495			$	18,967	$	—


	As of December 31, 2023
	Shares Authorized		Shares Issued and Outstanding		Issuance price per share		Carrying Value		Liquidation Preference
Redeemable convertible preferred shares
Series Seed		71,428,571		71,428,571	$	0.0070	$	785	$	1,000
Series B		239,156,361		239,156,361		0.0876		26,825		27,842
Series C-1		290,202,451		270,636,854		0.2240		75,859		77,429
Series C-2		351,591,430		127,875,914		0.2844		43,754		45,478

Total redeemable convertible preferred shares		952,378,813		709,097,700			$	147,223	$	151,749