v3.25.4
Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:      
Trading Losses [1] $ 73,529 $ 55,316  
Share-based payments 4,233 3,663  
Capital losses 2,651 2,467  
Gross deferred tax asset 80,413 61,446  
Valuation allowance (80,413) (61,446) $ (63,739)
Total deferred tax, net $ 0 $ 0  
[1] Included in trading losses is $8.2 million of accumulated tax losses as of December 31, 2025 ($7.4 million as of December 31, 2024) related to its operations in Germany for corporate income taxes and $7.1 million of accumulated losses related to trade taxes in its German entity ($6.5 million as of December 31, 2024).