v3.25.3
Fair Value - Significant Unobservable Inputs (Q2) (Details)
Jun. 30, 2025
May 15, 2025
Apr. 14, 2025
Dec. 31, 2024
Oct. 01, 2024
Term          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Investment in debt securities - AFS, measurement input       2 2
Earnout shares, measurement input 6.3     6.8 7
Stock price          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Earnout shares, measurement input 4.8     13.85 10.87
Stock price | 2024 WTI Warrant liability          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
WTI warrants, measurement input 4.8     13.85  
Stock price | 2025 WTI Warrant liability          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
WTI warrants, measurement input 4.8        
Volatility          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Investment in debt securities - AFS, measurement input       1.20 1.20
Earnout shares, measurement input 0.56     0.56 0.56
Volatility | 2024 WTI Warrant liability          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
WTI warrants, measurement input 0.56     0.56  
Volatility | 2025 WTI Warrant liability          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
WTI warrants, measurement input 0.56        
Discount for lack of marketability          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Investment in debt securities - AFS, measurement input       0.31 0.18
Weighted average cost of capital          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Investment in debt securities - AFS, measurement input       0.45 0.45
Risk-free rate          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Investment in debt securities - AFS, measurement input       0.0423 0.0351
Earnout shares, measurement input 0.0387     0.0442 0.0362
AeroFlexx yield          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Investment in debt securities - AFS, measurement input 0.1331        
Revenue risk premium          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Earnout shares, measurement input 0.282     0.361  
Revenue volatility          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Earnout shares, measurement input 1.52     1.76  
Credit spread | 2024 WTI Warrant liability          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
WTI warrants, measurement input 0.256     0.188  
Credit spread | 2025 WTI Warrant liability          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
WTI warrants, measurement input 0.256        
Debt Yield          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Embedded derivative liability - Convertible Debentures, measurement input 0.406 0.426 0.445