v3.26.1
Fair value of financial instruments (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities
The debt derivative liability is currently the only financial instrument recorded at fair value on a recurring basis in the accompanying balance sheets. The following table presents information about those measurements:
Type of measurementMeasurement dateType of measurement
Level 1Level 2Level 3
Liabilities
Debt derivative liabilityRecurringMarch 31, 2026— — 29,719 
Debt derivative liabilityRecurringDecember 31, 2025— — 26,564 
Schedule of Fair Value Reconciliation of Level 3
The following table presents the rollforward reconciliation of this level 3 recurring fair value measurement:
Three months ended
March 31,
2026
February 23,
2025
Balance at beginning of period$26,564 $23,300 
Change in fair value recorded in earnings
3,155 600 
Balance at end of period$29,719 $23,900 
Schedule of Derivative Liabilities Assumptions
Key inputs used to develop the fair value measurement were as follows:
March 31,
2026
December 31,
2025
Probability of change in control event80.0 %80.0 %
Weighted average discount rate21.1 %17.6 %