v3.26.1
Condensed Consolidated Statements of Changes in Mezzanine Equity and Stockholders’ Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Total
Series C Preferred Stock
Special Warrants
Previously Reported
Retroactive application of recapitalization
Series A Preferred Shares
Series A Preferred Shares
Previously Reported
Series A Preferred Shares
Retroactive application of recapitalization
Common Shares
Common Shares
Series C Preferred Stock
Common Shares
Special Warrants
Common Shares
Previously Reported
Common Shares
Retroactive application of recapitalization
Additional Paid-In Capital
Additional Paid-In Capital
Series C Preferred Stock
Additional Paid-In Capital
Special Warrants
Additional Paid-In Capital
Previously Reported
Additional Paid-In Capital
Retroactive application of recapitalization
Accumulated Deficit
Accumulated Deficit
Previously Reported
Accumulated Deficit
Retroactive application of recapitalization
Beginning balance (in shares) at Dec. 31, 2024 0     0 0                                
Beginning balance at Dec. 31, 2024 $ 0     $ 0 $ 0                                
Increase (Decrease) in Temporary Equity [Roll Forward]                                          
Issuance of Preferred Stock for cash (in shares) 413                                        
Ending balance (in shares) at Mar. 31, 2025 413                                        
Ending balance at Mar. 31, 2025 $ 0                                        
Preferred stock, beginning balance (in shares) at Dec. 31, 2024           0 0 0                          
Common stock, beginning balance (in shares) at Dec. 31, 2024                 31,586,850     76,500,000 (44,913,150)                
Beginning balance at Dec. 31, 2024 (5,228)     $ (5,228) $ 0 $ 0 $ 0 $ 0 $ 32     $ 8 $ 24 $ 189     $ 213 $ (24) $ (5,449) $ (5,449) $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Issuance of stock (in shares)                 2,064,500                        
Issuance of stock 771               $ 2         769              
Issuance of common shares for services (in shares)                 1,858,050                        
Common stock issued at Blackboxstocks Inc. merger (in shares)                 5,780,600                        
Common stock issued at Blackboxstocks Inc. merger 6               $ 6         4,833              
Net loss (1,742)                                        
Net loss (1,742)                                   (1,742)    
Imputed interest treated as a capital contribution 91                         91              
Preferred stock, ending balance (in shares) at Mar. 31, 2025           0                              
Common stock, ending balance (in shares) at Mar. 31, 2025                 41,290,000                        
Ending balance at Mar. 31, 2025 $ (1,269)         $ 0     $ 40         5,882         (7,191)    
Beginning balance (in shares) at Dec. 31, 2025 684     2,000 (1,316)                                
Beginning balance at Dec. 31, 2025 $ 1,506     $ 1,506 $ 0                                
Increase (Decrease) in Temporary Equity [Roll Forward]                                          
Issuance of Preferred Stock for cash (in shares) 4,442                                        
Issuance of Preferred Stock for cash $ 2,600                                        
Accretion of discount on issuance of Series C preferred stock $ 9,220                                        
Conversion of Series C preferred stock (in shares) (5,126)                                        
Conversion of Series C preferred stock $ (13,326)                                        
Ending balance (in shares) at Mar. 31, 2026 0                                        
Ending balance at Mar. 31, 2026 $ 0                                        
Preferred stock, beginning balance (in shares) at Dec. 31, 2025 0         0 0 0                          
Common stock, beginning balance (in shares) at Dec. 31, 2025 49,293,557               49,293,557     119,383,766 (70,090,209)                
Beginning balance at Dec. 31, 2025 $ 35,834         $ 0 $ 0 $ 0 $ 49     $ 12 $ 37 116,939     $ 116,976 $ (37) (81,125) $ (81,125) $ 0
Beginning balance, adjustment at Dec. 31, 2025 35,863     $ 35,863 $ 0                                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Issuance of Preferred Stock for cash (in shares)           3,269,998                              
Issuance of Preferred Stock for cash 3         $ 3                              
Commitment shares issued for cash (in shares)                 1,077,353                        
Commitment shares issued for cash 1               $ 1                        
Issuance of stock (in shares)                 2,702,702                        
Issuance of stock 47,011               $ 3         47,008              
Issuance of Common Stock under SAFE (in shares)                 160,606                        
Issuance of Common Stock under SAFE 3,015                         3,015              
Common stock issued at Blackboxstocks Inc. merger (in shares)                 4,480,437                        
Common stock issued at Blackboxstocks Inc. merger 6,234               $ 4         6,230              
Conversion of warrants and stock (in shares)                   1,374,018 2,093,664                    
Conversion of warrants and stock   $ 13,326 $ 38,000             $ 1 $ 2       $ 13,325 $ 37,998          
Exercise of stock options (in shares)                 32,200                        
Exercise of stock options 0                         0              
Stock-based compensation expense 64,830                         64,830              
Net loss (106,718)                                   (106,718)    
Net loss (106,718)                                        
Imputed interest treated as a capital contribution $ 3                         3              
Preferred stock, ending balance (in shares) at Mar. 31, 2026 3,269,998         3,269,998                              
Common stock, ending balance (in shares) at Mar. 31, 2026 61,214,537               61,214,537                        
Ending balance at Mar. 31, 2026 $ 101,568         $ 3     $ 60         $ 289,348         $ (187,843)    
Ending balance, adjustment at Mar. 31, 2026 $ 101,568