v3.26.1
SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Operating Income (Loss)
The tables below shows our Segment operating (loss) income for the periods presented:
Three Months Ended
March 31,
20262025
(in thousands)TreasuryReal EstateTreasuryReal Estate
Segment revenue$2,402 $262 $— $287 
Cost of revenue96 7 — 7 
General and administrative5,071 935 — 543 
Sales and marketing150 103 — 465 
Research and development125 16 — 169 
Depreciation and amortization304 47 — 50 
Net loss (gain) on digital assets51,030 — — — 
(Gain) loss from changes in fair value of contingent consideration— — — (64)
Total segment operating expenses$56,776 $1,108 $— $1,170 
Segment operating (loss) income$(54,374)$(846)$— $(883)
Schedule of Reconciliation of Segment Income (Loss) to Consolidated Income (Loss) Before Income Taxes
The below table reconciles Segment (loss) income to consolidated (loss) income before income taxes for the periods presented:
Three Months Ended
March 31,
20262025
(in thousands)TreasuryReal EstateCorporateTotalTreasuryReal EstateCorporateTotal
Revenue$2,402 $262 $— $2,664 $— $287 $— $287 
Cost of revenue96 7 — 103 — 7 — 7 
General and administrative5,071 935 — 6,006 — 543 — 543 
Sales and marketing150 103 — 253 — 465 — 465 
Research and development125 16 — 141 — 169 — 169 
Depreciation and amortization304 47 — 351 — 50 — 50 
Net loss (gain) on digital assets51,030 — — 51,030 — — — — 
(Gain) loss from changes in fair value of contingent consideration— — — — — (64)— (64)
Total operating expenses56,776 1,108 — 57,884 — 1,170 — 1,170 
Operating (loss) income(54,374)(846)— (55,220)— (883)— (883)
Interest expense— — (2,696)(2,696)— — — — 
(Loss) gain from derivative instruments— — (22,838)(22,838)— — — — 
Investment and other (expense) income, net— — (2,636)(2,636)— — 105 105 
(Loss) income before income taxes$(54,374)$(846)$(28,170)$(83,390)$— $(883)$105 $(778)