Stockholders’ Equity (Tables)
|
3 Months Ended |
6 Months Ended |
12 Months Ended |
Mar. 31, 2026 |
Jan. 31, 2026 |
Dec. 31, 2025 |
Jul. 31, 2025 |
| Stockholders’ Equity (Tables) [Line Items] |
|
|
|
|
| Schedule of Reserved Shares of Common Stock |
The Company has reserved shares of Class A common stock for issuance related to the following as of March 31, 2026:
|
Warrants to purchase Class A common stock
|
|
17,900,000 |
|
Employee stock purchase plan
|
|
1,000,000 |
|
RSUs, issued and outstanding
|
|
8,329,904 |
|
Stock options and RSUs, authorized for future issuance, increased by 5% January 1st
|
|
2,641,823 |
|
Total shares reserved
|
|
29,871,727 |
|
|
The Company has reserved shares of Class A common stock for issuance related to the following as of December 31, 2025:
|
Warrants to purchase Class A common stock
|
|
17,900,000 |
|
Employee stock purchase plan
|
|
1,000,000 |
|
RSUs, issued and outstanding
|
|
5,984,957 |
|
Stock options and RSUs, authorized for future issuance
|
|
4,464,307 |
|
Total shares reserved
|
|
29,349,264 |
|
|
| Schedule of Unvested Restricted Stock Units Activity |
A summary of RSU activity for the three months ended March 31, 2026, under the 2025 Plan is as follows:
|
|
|
Number of
RSUs
|
|
Weighted
Average
Grant Date
Fair Value
|
|
Unvested as of December 31, 2025
|
|
4,798,167 |
|
|
$
|
12.03 |
|
Granted
|
|
6,600,180 |
|
|
|
0.17 |
|
Vested
|
|
(6,615,060 |
)
|
|
|
0.22 |
|
Cancelled or forfeited
|
|
(3,915,287 |
)
|
|
|
10.15 |
|
Unvested as of March 31, 2026
|
|
868,000 |
|
|
$
|
10.77 |
|
|
A summary of RSU activity for the year ended December 31, 2025, under the 2025 Plan is as follows:
|
|
|
Number of
RSUs
|
|
Weighted
Average
Grant Date
Fair Value
|
|
Unvested as of December 31, 2024
|
|
—
|
|
|
$
|
—
|
|
Granted
|
|
5,334,000 |
|
|
|
7.27 |
|
Vested
|
|
(105,833 |
)
|
|
|
22.00 |
|
Cancelled or forfeited
|
|
(430,000 |
)
|
|
|
22.00 |
|
Unvested as of December 31, 2025
|
|
4,789,167 |
|
|
$
|
12.03 |
|
|
| Schedule of RSU Activity for Contractors |
A summary of RSU activity for contractors for the three months ended March 31, 2026, under the 2025 Plan is as follows:
|
|
|
Number of
RSUs
|
|
Weighted
Average
Grant Date
Fair Value
|
|
Unvested as of December 31, 2025
|
|
693,895 |
|
|
$
|
1.61 |
|
Granted
|
|
—
|
|
|
|
—
|
|
Vested
|
|
(459,782 |
)
|
|
|
1.61 |
|
Cancelled or forfeited
|
|
(234,113 |
)
|
|
|
1.61 |
|
Unvested as of March 31, 2026
|
|
—
|
|
|
|
—
|
|
|
|
|
| DevvStream Corp [Member] |
|
|
|
|
| Stockholders’ Equity (Tables) [Line Items] |
|
|
|
|
| Schedule of Share Purchase Warrants Outstanding |
|
The continuity of share purchase warrants is as follows:
| | | Number of
warrants | | Weighted
Average
Exercise
price | | Remaining
life (Years) | | Balance, July 31, 2024 | | 132,811 | | | $ | 47.23 | | 0.67 | | Issued on RTO (Note 4) | | 22,699,987 | | | $ | 1.52 | | — | | Exercised | | (9,176 | ) | | $ | 9.50 | | — | | Expired | | (105,032 | ) | | $ | 56.90 | | — | | Balance, July 31, 2025 | | 22,718,590 | | | $ | 1.53 | | 4.27 | | Balance, January 31, 2026 | | 22,718,590 | | | $ | 1.53 | | 3.76 | As at January 31, 2026, the following share purchase warrants were outstanding:
| Number of
warrants outstanding | | Exercise price | | Expiry date | | 18,603 | | | CAD$ 9.60 | | September 29, 2026 | | 22,699,987 | * | | $ 1.52 | | November 6, 2029 | | 22,718,590 | | | | | |
|
|
The continuity of share purchase warrants is as follows:
| | | Number of
warrants | | Weighted
Average
Exercise price | | Remaining
life (Years) | | Balance, July 31, 2023 | | 150,908 | | | $ | 44.69 | | 1.85 | | Exercised | | (18,097 | ) | | $ | 9.73 | | — | | Balance, July 31, 2024 | | 132,811 | | | $ | 47.23 | | 0.67 | | Issued on RTO (Note 4) | | 22,699,987 | | | $ | 1.52 | | — | | Exercised | | (9,176 | ) | | $ | 9.50 | | — | | Expired | | (105,032 | ) | | $ | 56.90 | | — | | Balance, July 31, 2025 | | 22,718,590 | | | $ | 1.53 | | 4.27 |
As at July 31, 2025, the following share purchase warrants were outstanding:
| Number of
warrants outstanding | | Exercise price | | Expiry date | | 18,603 | | | CAD$ 13.08 | | September 29, 2026 | | 22,699,987 | * | | $ 1.52 | | November 6, 2029 | | 22,718,590 | | | | | |
|
| Schedule of Stock Options Activity |
|
The continuity of the Company’s stock options is as follows:
|
|
|
Number of
stock
options
|
|
Weighted
average
exercise
price
|
|
Outstanding, October 31, 2024 and July 31, 2024
|
|
62,772 |
|
|
$
|
40.20 |
|
Forfeited
|
|
(1,395 |
)
|
|
$
|
37.74 |
|
Granted
|
|
50,000 |
|
|
$
|
2.32 |
|
Cancelled
|
|
(2,733 |
)
|
|
$
|
37.74 |
|
Outstanding, July 31, 2025
|
|
108,644 |
|
|
$
|
22.79 |
|
Outstanding, January 31, 2026
|
|
108,644 |
|
|
$
|
23.10 |
|
Exercisable, July 31, 2025
|
|
51,859 |
|
|
$
|
40.16 |
|
Exercisable, January 31, 2026
|
|
57,956 |
|
|
$
|
40.68 |
|
|
The continuity of the Company’s stock options is as follows:
|
|
|
Number of
stock
options
|
|
Weighted
average
exercise
price
|
|
Outstanding, October 31, 2024 and July 31, 2024
|
|
62,772 |
|
|
$
|
40.20 |
|
Forfeited
|
|
(1,395 |
)
|
|
$
|
37.74 |
|
Granted
|
|
50,000 |
|
|
$
|
2.32 |
|
Cancelled
|
|
(2,733 |
)
|
|
$
|
37.74 |
|
Outstanding, July 31, 2025
|
|
108,644 |
|
|
$
|
22.79 |
|
Exercisable, July 31, 2024
|
|
33,496 |
|
|
$
|
40.10 |
|
Exercisable, July 31, 2025
|
|
51,859 |
|
|
$
|
40.16 |
|
| Schedule of Stock Options Outstanding and Exercisable |
|
As at January 31, 2026, the following stock options were outstanding and exercisable:
| Number of
options outstanding | | Exercise price | | Expiry date | | Number of
options exercisable | | 2,676 | | CAD$ | | 52.40 | | January 17, 2028 | | 2,676 | | 9,176 | | CAD$ | | 52.40 | | February 6, 2028 | | 9,176 | | 8,411 | | CAD$ | | 72.60 | | May 15, 2028 | | 7,723 | | 764 | | CAD$ | | 77.20 | | June 26, 2028 | | 764 | | 50,000 | | $ | | 2.32 | | March 26, 2030 | | — | | 22,938 | | CAD$ | | 52.40 | | January 17, 2032 | | 22,938 | | 4,588 | | CAD$ | | 52.40 | | March 1, 2032 | | 4,588 | | 917 | | CAD$ | | 52.40 | | March 14, 2032 | | 917 | | 7,646 | | CAD$ | | 52.40 | | October 12, 2032 | | 7,646 | | 1,528 | | CAD$ | | 52.40 | | February 6, 2033 | | 1,528 | | 108,644 | | | | | | | | 57,956 |
|
|
As at July 31, 2025, the following stock options were outstanding and exercisable:
| Number of
options outstanding | | Exercise price | | Expiry date | | Number of
options exercisable | | 2,676 | | CAD$ 52.40 | | January 17, 2028 | | 2,676 | | 9,176 | | CAD$ 52.40 | | February 6, 2028 | | 9,176 | | 8,411 | | CAD$ 72.60 | | May 15, 2028 | | 7,035 | | 764 | | CAD$ 77.20 | | June 26, 2028 | | 764 | | 50,000 | | $ 2.32 | | March 26, 2030 | | — | | 22,938 | | CAD$ 52.40 | | January 17, 2032 | | 19,500 | | 4,588 | | CAD$ 52.40 | | March 1, 2032 | | 3,900 | | 917 | | CAD$ 52.40 | | March 14, 2032 | | 780 | | 7,646 | | CAD$ 52.40 | | October 12, 2032 | | 6,500 | | 1,528 | | CAD$ 52.40 | | February 6, 2033 | | 1,528 | | 108,644 | | | | | | 51,859 |
|
| Schedule of RSUs Outstanding |
|
The continuity of the Company’s RSU’s is as follows:
|
|
|
Number of
RSUs
|
|
Outstanding, July 31, 2024
|
|
121,475 |
|
|
Granted
|
|
30,586 |
|
|
Forfeited
|
|
(3,753 |
)
|
|
Outstanding, July 31, 2025 and January 31, 2026
|
|
148,308 |
|
|
|
The continuity of the Company’s RSU’s is as follows:
|
|
|
Number of
RSUs
|
|
Outstanding, July 31, 2023
|
|
103,686 |
|
|
Granted
|
|
17,789 |
|
|
Outstanding, July 31, 2024
|
|
121,475 |
|
|
Granted
|
|
30,586 |
|
|
Forfeited
|
|
(3,753 |
)
|
|
Outstanding, July 31, 2025
|
|
148,308 |
|
|
| Schedule of RSUs Outstanding |
|
As at January 31, 2026, the following RSUs were outstanding and vested:
|
Number of
RSUs outstanding
|
|
Grant date
|
|
Number of
RSUs Vested
|
| 917 |
|
November 30, 2021
|
|
917 |
| 38,232 |
|
December 24, 2021
|
|
38,232 |
| 1,009 |
|
March 1, 2022
|
|
1,009 |
| 62,702 |
|
March 14, 2022
|
|
62,702 |
| 14,862 |
|
July 30, 2024
|
|
8,641 |
| 30,586 |
|
March 26, 2025
|
|
30,586 |
| 148,308 |
|
|
|
142,087 |
|
|
As at July 31, 2025, the following RSUs were outstanding and vested:
|
Number of
RSUs outstanding
|
|
Grant
date
|
|
Number of
RSUs Vested
|
| 917 |
|
November 30, 2021
|
|
917 |
| 38,232 |
|
December 24, 2021
|
|
32,496 |
| 1,009 |
|
March 1, 2022
|
|
1,009 |
| 62,702 |
|
March 14, 2022
|
|
53,985 |
| 14,862 |
|
July 30, 2024
|
|
7,086 |
| 30,586 |
|
March 26, 2025
|
|
25,998 |
| 148,308 |
|
|
|
121,491 |
|
| Contractors [Member] |
|
|
|
|
| Stockholders’ Equity (Tables) [Line Items] |
|
|
|
|
| Schedule of Unvested Restricted Stock Units Activity |
|
|
A summary of RSU activity for contractors for the year ended December 31, 2025, under the 2025 Plan is as follows:
|
|
|
Number of
RSUs
|
|
Weighted
Average
Grant Date
Fair Value
|
|
Unvested as of December 31, 2024
|
|
—
|
|
|
$
|
—
|
|
Granted
|
|
1,080,957 |
|
|
|
1.61 |
|
Vested
|
|
(387,062 |
)
|
|
|
1.61 |
|
Cancelled or forfeited
|
|
—
|
|
|
|
|
|
Unvested as of December 31, 2025
|
|
693,895 |
|
|
|
1.61 |
|
|