v3.26.1
CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT - USD ($)
$ in Thousands
Common Stock
Additional Paid-in Capital
Blue Owl Warrants
Additional Paid-in Capital
Hawthorn Agreement
Additional Paid-in Capital
Accumulated Deficit
Series A Convertible Preferred Stock
Series B Convertible Preferred Stock
Blue Owl Warrants
Hawthorn Agreement
Total
Beginning balance (in shares) at Dec. 31, 2023                   0
Beginning balance at Dec. 31, 2023                   $ 0
Ending balance (in shares) at Dec. 31, 2024                   0
Ending balance at Dec. 31, 2024           $ 0 $ 0     $ 0
Beginning balance (in shares) at Dec. 31, 2023 4,074,000                  
Beginning balance at Dec. 31, 2023 $ 0     $ 94,544 $ (122,536)         (27,992)
Stockholders' Deficit                    
Stock options exercised (in shares) 45,000                  
Stock options exercised       211           211
Vesting of restricted stock units (in shares) 163,000                  
Repurchase of restricted stock for payroll tax withholding (in shares) (47,000)                  
Repurchases of restricted stock for payroll tax withholding       (613)           (613)
Stock-based compensation expense       5,759           5,759
Issuance of shares due to litigation settlement (in shares) 212,000                  
Issuance of shares due to litigation settlement       1,756           1,756
Net income (loss)         (25,915)         $ (25,915)
Ending balance (in shares) at Dec. 31, 2024 4,447,000                 4,446,540
Ending balance at Dec. 31, 2024 $ 0     101,657 (148,451)         $ (46,794)
Ending balance (in shares) at Mar. 31, 2025                   0
Ending balance at Mar. 31, 2025                   $ 0
Stockholders' Deficit                    
Stock options exercised (in shares)                   0
Vesting of restricted stock units (in shares) 62                  
Repurchase of restricted stock for payroll tax withholding (in shares) (25,000)                  
Repurchases of restricted stock for payroll tax withholding       (271)           $ (271)
Stock-based compensation expense       1,066           1,066
Net income (loss)         (5,688)         (5,688)
Ending balance (in shares) at Mar. 31, 2025 4,484,000                  
Ending balance at Mar. 31, 2025 $ 0     102,452 (154,139)         $ (51,687)
Beginning balance (in shares) at Dec. 31, 2024                   0
Beginning balance at Dec. 31, 2024           $ 0 $ 0     $ 0
Mezzanine Equity                    
Issuance of Series A And B convertible preferred stock in connection with the Hawthorn Agreement (in shares)           35,000,000 30,000,000      
Issuance of Series A And B convertible preferred stock in connection with the Hawthorn Agreement           $ 11,308 $ 16,601      
Ending balance (in shares) at Dec. 31, 2025           35,000 30,000     65,000,000
Ending balance at Dec. 31, 2025           $ 11,308 $ 16,601     $ 27,909
Beginning balance (in shares) at Dec. 31, 2024 4,447,000                 4,446,540
Beginning balance at Dec. 31, 2024 $ 0     101,657 (148,451)         $ (46,794)
Stockholders' Deficit                    
Stock options exercised (in shares) 2,000                  
Stock options exercised       8           8
Vesting of restricted stock units (in shares) 192,000                  
Repurchase of restricted stock for payroll tax withholding (in shares) (59,000)                  
Repurchases of restricted stock for payroll tax withholding       (594)           (594)
Stock-based compensation expense       3,693           3,693
Repurchase of 2023 and 2025 Blue Owl Warrants       (6,162)           (6,162)
Repurchase of warrants   $ 3,934 $ 4,963         $ 3,934 $ 4,963  
Issuance of shares due to litigation settlement (in shares) 168,000                  
Issuance of shares due to litigation settlement       1,504           1,504
Net income (loss)         1,365         $ 1,365
Ending balance (in shares) at Dec. 31, 2025 4,750,000                 4,750,258
Ending balance at Dec. 31, 2025 $ 0     109,003 (147,086)         $ (38,083)
Ending balance (in shares) at Mar. 31, 2026           35,000 30,000     65,000,000
Ending balance at Mar. 31, 2026           $ 11,308 $ 16,601     $ 27,909
Stockholders' Deficit                    
Stock options exercised (in shares)                   0
Vesting of restricted stock units (in shares) 27                  
Repurchase of restricted stock for payroll tax withholding (in shares) (12,000)                  
Repurchases of restricted stock for payroll tax withholding       (76)           $ (76)
Stock-based compensation expense       546           546
Net income (loss)         5,686         $ 5,686
Ending balance (in shares) at Mar. 31, 2026 4,765,000                 4,765,058
Ending balance at Mar. 31, 2026 $ 0     $ 109,473 $ (141,400)         $ (31,927)