v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Operating activities      
Net Income (Loss) $ (45,650) $ (26,080)  
Adjustments to reconcile net loss to net cash proceeds from operating activities:      
Depreciation and amortization 2,869 1,003  
Amortization of debt issuance costs and debt discount 1,028 0  
Non-cash operating lease cost 643 176  
Non-cash interest expense for deferred consideration 324 0  
Stock-based compensation 3,629 3,314  
Gain on warrant derivative liabilities (25,709) (10,409)  
Loss on compound derivative of Scilex-St. James Loans 21,829 0  
Financing costs and allocated expense for financial instruments at fair value 0 4,057  
In-process research and development expense 0 566  
Realized loss on securities 3,071 0  
Change in fair value of debt and liability instruments 2,797 6,114  
Unrealized loss on digital assets 18,064 0  
Unrealized loss on EMI 31,710 0  
Realized (gain) loss on EMI (42,338) 0  
Allowances for expected credit losses 800 0  
Non- cash revenue (1,131) 0  
Gain from property in kind dividend (525) 0  
Other 1,614 38  
Changes in operating assets and liabilities:      
Accounts receivables, net 4,597 15,823  
Inventory 257 (584)  
Prepaid expenses and other 614 129  
Other long-term assets (605) 0  
Accounts payable 15,812 5,128  
Accrued Payroll 631 149  
Accrued expenses (7,805) 841  
Accrued rebates and fees 15,758 5,912  
Other liabilities (3,394) (170)  
Other long-term liabilities 3 0  
Net cash proceeds from operating activities (1,107) 6,007  
Investing activities      
Cash paid for in-process research and development, net 0 (200)  
Acquisition consideration paid in cash for Romeg intangible asset acquisition (150) (150)  
Purchase of patent (2,900) 0  
Payment made for PA OPS investment (200) 0  
Purchases of Bitcoin (18,698) 0  
Repayments on promissory note (750) 0  
Purchase of preferred shares of Vivasor (299) 0  
Issuance of convertible note receivable for Qscan (20,000) 0  
Sale of Datavault shares for cash, net 31,392 0  
Payment made for Datavault Licenses (500) 0  
Sale of Marketable Securities 2,945 0  
Purchase of convertible promissory note from Denali 0 (45)  
Net cash used for investing activities (9,160) (395)  
Financing activities      
Repayment of Tranche B Note (6,319) 0  
Payments on purchased revenue liability (794) 0  
Payments for Vivasor debt (745) 0  
Acquisition of controlling interest in Vivasor 1,500 0  
Repayment of Tranche B Notes principal and interest 0 (1,596)  
Payments on purchased revenue liability 0 (797)  
Transaction costs paid in connection with share repurchase 0 (396)  
Excise tax paid in connection with share repurchase 0 (200)  
Transaction costs paid related to Semnur Business Combination 0 (95)  
Proceeds from issuance of St James Loan, net of issuance costs 15,502 0  
Net cash provided by (used for) financing activities 9,144 (3,084)  
Effect of exchange rate changes on cash (481) 0  
Net change in cash and cash equivalents (1,604) 2,528  
Cash and cash equivalents at beginning of period 4,955 3,272 $ 3,272
Cash and cash equivalents at end of period 3,351 5,800 $ 4,955
Supplemental disclosure of non-cash financing activity      
Settlement of St James Loans for Datavault shares 59,366 0  
Purchase of preferred shares 750 0  
Prepayment Related To Q Scan Investment 2,500 0  
Stock dividend declared in 2024, and canceled in February 2026 $ 1