v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (440,314) $ (17,996)
Adjustments to reconcile net loss to net cash used in operating activities:    
Changes in provision for losses on valuation of inventories 115
Depreciation and amortization 252
Interest expense 768
Pension Benefits Provision 65
Gain on settlement of preexisting relationship (1,152)
Allowance for credit losses 470
Interest income (63)
Gain on foreign exchange translation (115)
Loss on foreign exchange translation 137
Change in fair value of CPU Share Allocation Obligations 190,488 2,492
Change in fair value of July Investment Agreement Derivative 234,739 12,572
Day one loss on CPU Share Allocation Obligations 404
Investor expenses incurred on behalf of Company 1,586 827
Paid in kind – interest (475)
Non-cash others (75)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Trade accounts receivable (725)
Non-trade accounts receivable (211)
Prepaid expenses and other assets (197) (125)
Inventories (385)
Deferred transaction costs 9,265
Trade accounts payable (1,225) (209)
Non-trade accounts payable 1,195
Other liabilities 109
Accrued expenses and other current liabilities 174 (23)
Net cash used in operating activities (5,569) (2,063)
Cash flows from investing activities    
Purchases of property, plant and equipment (24)
Payments for leasehold deposits (2)
Issuance of notes receivable (474)
Proceeds from notes receivable 2
Payment for acquisition of business (350)
Net cash acquired in Business Combination 1,379
Net cash (used in) provided by investing activities 1,005 (474)
Cash flows from financing activities    
Proceeds from short-term debt 945
Repayment of short-term debt (545)
Repayment of current portion of long-term debt (65)
Repayment of long-term debt (44)
Payment of lease liabilities (32)
Cash assumed in reverse recapitalization 13
Constructive disbursements to related party (475) (1,680)
Payments to effectuate reverse recapitalization (1,537)
Proceeds from issuance of convertible preferred units 5,550
Payments for deferred transaction costs (215)
Net cash (used in) provided by financing activities (1,741) 3,655
Effect of exchange rate changes on cash and cash equivalents, and restricted cash 8
Net (decrease) increase in cash, cash equivalents and restricted cash (6,296) 1,118
Cash and cash equivalents, and restricted cash, as of beginning of period 11,685 2,615
Cash and cash equivalents, and restricted cash, as of end of period 5,389 3,733
Supplemental cash flow information:    
Taxes paid
Interest paid 133
Supplemental disclosure of noncash investing and financing activities:    
Acquisition of business, deferred consideration payable included in non-trade accounts payable 47,863
Acquisition of business, shares of common stock exchanged 23,064  
Reverse recapitalization, net non-cash liabilities assumed and settlement of preexisting relationship 10,886
Reclassification of CPU Share Allocation Obligation from liability to equity 186,766
Issuance of common stock for settlement of July Investment Agreement Derivative liabilities 588,944
Issuance of common stock for settlement of CPU Share Allocation Obligations liabilities 296,402
Fair value of CPU Share Allocation Obligations issued in connection with issuance of certain convertible preferred units 4,704
Deferred transaction costs included within accounts payable and accrued expenses 2,583
Convertible preferred units issued in exchange for subscription receivable $ 1,500