Related Party Transactions |
12 Months Ended |
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Dec. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions During the second quarter of 2022, the Company entered into a sublease agreement with an affiliate of the Chief Executive Officer. The sublease commenced on June 1, 2022, and expired on October 31, 2024. The monthly base rent, after the rent abatement period for the first four months, was $69,000. As of December 31, 2025 and 2024, there was no outstanding rent receivable. For the years ended December 31, 2025 and 2024, income on the sublease from the related party transactions were nil and $0.6 million, respectively. The income on sublease is netted with rent expense and included in general and administrative expenses on the consolidated statements of operations. In connection with the Business Combination, the Company paid $1.1 million in certain transaction costs reimbursable by Silver Spike’s sponsor (“Silver Spike Sponsor”), an affiliate to a member of the board of directors. On March 16, 2023, Silver Spike Holdings, an affiliate of Silver Spike Sponsor, entered into a promissory note with the Company and agreed to pay the principal amount of $1.1 million in 12 equal quarterly installments commencing on March 31, 2023. The promissory note bears interest at a rate of 5% per annum commencing on March 31, 2023 and maturing on December 31, 2025. In an event of default, the outstanding principal amount shall bear interest for the entire period during which the principal balance is unpaid at a rate which is equal to 10% per annum. As of December 31, 2025 and 2024, the remaining balance of the promissory note receivable was $0.1 million and $0.4 million, respectively and included in prepaid expenses and other current assets on the consolidated balance sheets. For the years ended December 31, 2025 and 2024, interest income on the promissory note were less than $0.1 million, which is included in other income (expense), net on the consolidated statement of operations. During the year ended December 31, 2025 and 2024, the Company reimbursed $0.4 million and $0.2 million in certain legal fee to Silver Spike Holdings, an affiliate to a member of the board of directors in connection with responding to the SEC investigation. See Part I. Item 3. “Legal Proceedings” for further discussion. The expense is included in general and administrative expenses on the consolidated statements of operations.
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