v3.25.3
Accounting Policies (Q2) (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Oct. 01, 2024
Dec. 31, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]                  
Additional paid-in capital $ (525,346)   $ (502,865)     $ (525,346)     $ 0
Net loss 84,227   61,754 $ 7,288   227,224 $ 12,507 $ 16,436 30,845
Non-controlling interest 207,509   340,777     207,509     1,559
Cash and cash equivalents 6,965   11,119     6,965      
Restricted cash 5,000   0     5,000      
Accumulated deficit 305,512   78,262     305,512     64,284
Working capital (deficit) (51,188)   (45,061)     (51,188)      
Net loss $ 141,275 $ 253,674 $ 70,093 $ 11,314 $ 7,526 $ 394,949 $ 18,840 $ 28,198 $ 30,984
Common Stock, par value (in usd per share) $ 0.0001   $ 0.0001     $ 0.0001   $ 0.0001  
Error correction out of period adjustment                  
Error Corrections and Prior Period Adjustments Restatement [Line Items]                  
Additional paid-in capital $ 12,448         $ 12,448      
Net loss           4,468      
Non-controlling interest $ 16,915         $ 16,915