v3.26.1
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Deficit - USD ($)
$ in Thousands
Total
Common stock warrants
Previously Reported
Reverse recapitalization
Common Stock
Common Stock
Common stock warrants
Common Stock
Previously Reported
Common Stock
Reverse recapitalization
Additional Paid-In Capital
Additional Paid-In Capital
Common stock warrants
Additional Paid-In Capital
Previously Reported
Additional Paid-In Capital
Reverse recapitalization
Accumulated Deficit
Accumulated Deficit
Previously Reported
Accumulated Deficit
Reverse recapitalization
Accumulated Comprehensive Income
Accumulated Comprehensive Income
Previously Reported
Accumulated Comprehensive Income
Reverse recapitalization
Beginning balance (in shares) at Dec. 31, 2022 62,240,000   93,963,000 (31,723,000)                            
Beginning balance at Dec. 31, 2022 $ 170,648   $ 170,648 $ 0                            
Ending balance (in shares) at Dec. 31, 2023 62,240,000                                  
Ending balance at Dec. 31, 2023 $ 170,648                                  
Beginning balance (in shares) at Dec. 31, 2022         57,205,000   86,360,000 (29,155,000)                    
Beginning balance at Dec. 31, 2022 (135,128)   $ (135,128) $ 0 $ 6   $ 0 $ 6 $ 6,596   $ 6,602 $ (6) $ (141,740) $ (141,740) $ 0 $ 10 $ 10 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Issuance of common stock upon exercise of stock options (in shares)         571,000                          
Issuance of common stock upon exercise of stock options 306               306                  
Stock-based compensation 5,399               5,399                  
Correction of an immaterial error of redeemable convertible preferred stock warrants (720)               (720)                  
Other comprehensive income (loss) (10)                             (10)    
Net loss (56,945)                       (56,945)          
Ending balance (in shares) at Dec. 31, 2023         57,776,000                          
Ending balance at Dec. 31, 2023 $ (187,098)       $ 6       11,581       (198,685)          
Ending balance (in shares) at Dec. 31, 2024 62,240,000   93,963,000 (31,723,000)                            
Ending balance at Dec. 31, 2024 $ 170,648   $ 170,648 $ 0                            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Issuance of common stock upon exercise of stock options (in shares)         281,000                          
Issuance of common stock upon exercise of stock options 172               172                  
Stock-based compensation 5,550               5,550                  
Net loss $ (69,459)                       (69,459)          
Ending balance (in shares) at Dec. 31, 2024 58,057,000       58,057,000   87,646,000 (29,589,000)                    
Ending balance at Dec. 31, 2024 $ (250,835)   $ (250,835) $ 0 $ 6   $ 0 $ 6 17,303   17,309 (6) (268,144) (268,144) 0 0    
Ending balance (in shares) at Mar. 31, 2025 62,240,000                                  
Ending balance at Mar. 31, 2025 $ 170,648                                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Conversion of redeemable convertible preferred stock in connection with reverse recapitalization/Issuance of common stock upon exercise of common stock warrants (in shares)         17,000                          
Issuance of common stock upon exercise of stock options (in shares)         942,000                          
Issuance of common stock upon exercise of stock options 508               508                  
Stock-based compensation 1,878               1,878                  
Net loss (128,185)                       (128,185)          
Ending balance (in shares) at Mar. 31, 2025         59,016,000                          
Ending balance at Mar. 31, 2025 $ (376,634)       $ 6       19,689       (396,329)     0    
Beginning balance (in shares) at Dec. 31, 2024 62,240,000   93,963,000 (31,723,000)                            
Beginning balance at Dec. 31, 2024 $ 170,648   $ 170,648 $ 0                            
Increase (Decrease) in Temporary Equity [Roll Forward]                                    
Conversion of redeemable convertible preferred stock in connection with reverse recapitalization (in shares) (62,240,000)                                  
Conversion of redeemable convertible preferred stock in connection with reverse recapitalization $ (170,648)                                  
Series A redeemable convertible preferred stock issued in connection with reverse recapitalization, net (in shares) 142,000                                  
Series A redeemable convertible preferred stock issued in connection with reverse recapitalization, net $ 223,185                                  
Ending balance (in shares) at Dec. 31, 2025 142,000                                  
Ending balance at Dec. 31, 2025 $ 223,185                                  
Beginning balance (in shares) at Dec. 31, 2024 58,057,000       58,057,000   87,646,000 (29,589,000)                    
Beginning balance at Dec. 31, 2024 $ (250,835)   $ (250,835) $ 0 $ 6   $ 0 $ 6 17,303   $ 17,309 $ (6) (268,144) $ (268,144) $ 0 0    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Conversion of redeemable convertible preferred stock in connection with reverse recapitalization/Issuance of common stock upon exercise of common stock warrants (in shares)         62,240,000 26,000                        
Conversion of redeemable convertible preferred stock in connection with reverse recapitalization/Issuance of common stock upon exercise of common stock warrants 170,648 $ 86     $ 6       170,642 $ 86                
Reverse recapitalization transaction, net of transaction costs (in shares) [1]         52,513,000                          
Reverse recapitalization transaction, net of transaction costs [1] 361,167       $ 5       361,162                  
Issuance of common stock in connection with debt financing (in shares)         46,000                          
Issuance of common stock in connection with debt financing $ 499               499                  
Issuance of common stock upon exercise of stock options (in shares) 2,558,000       2,558,000                          
Issuance of common stock upon exercise of stock options $ 1,434               1,434                  
Stock-based compensation 19,452               19,452                  
Other comprehensive income (loss) 22                             22    
Net loss $ (585,525)                       (585,525)          
Ending balance (in shares) at Dec. 31, 2025 175,440,000       175,440,000                          
Ending balance at Dec. 31, 2025 $ (283,052)       $ 17       570,578       (853,669)     22    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Reverse recapitalization transaction, net of transaction costs (in shares) 11,743,000                                  
Ending balance (in shares) at Sep. 24, 2025 174,957,000                                  
Ending balance (in shares) at Mar. 31, 2026 142,000                                  
Ending balance at Mar. 31, 2026 $ 223,185                                  
Beginning balance (in shares) at Dec. 31, 2025 175,440,000       175,440,000                          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Conversion of redeemable convertible preferred stock in connection with reverse recapitalization/Issuance of common stock upon exercise of common stock warrants (in shares)         386,000                          
Conversion of redeemable convertible preferred stock in connection with reverse recapitalization/Issuance of common stock upon exercise of common stock warrants $ 3,584               3,584                  
Issuance of common stock upon exercise of stock options (in shares) 1,650,000       1,650,000                          
Issuance of common stock upon exercise of stock options $ 973       $ 1       972                  
Stock-based compensation 6,111               6,111                  
Other comprehensive income (loss) (24)                             (24)    
Net loss $ 26,490                       26,490          
Ending balance (in shares) at Mar. 31, 2026 177,476,000       177,476,000                          
Ending balance at Mar. 31, 2026 $ (245,918)       $ 18       $ 581,245       $ (827,179)     $ (2)    
[1] Excludes 6,250,000 shares legally issued and outstanding related to sponsor earn out securities (see Note 3).