v3.26.1
Condensed Consolidated Statements of Redeemable Preferred Stock, Redeemable Noncontrolling Interest and Stockholders’ Deficit (Unaudited) - USD ($)
$ in Thousands
Total
Common stock
Treasury stock
Additional paid-in capital
Accumulated deficit
Beginning balance (in shares) at Dec. 31, 2024 223,458,000        
Beginning balance at Dec. 31, 2024 $ 561,500        
Ending balance at Mar. 31, 2025 $ 561,500        
Ending balance (in shares) at Mar. 31, 2025 223,458,000        
Redeemable noncontrolling interest          
Remeasurement of noncontrolling interests $ 0        
Beginning balance (in shares) at Dec. 31, 2024 [1]   8,971,000      
Beginning balance at Dec. 31, 2024 (177,195) $ 1 $ 0 $ 2,582 $ (179,778)
Treasury stock, beginning balance (in shares) at Dec. 31, 2024 [1]     0    
Total stockholders’ deficit          
Stock-based compensation 489     489  
Repurchase of shares (in shares) [1]     265,000    
Repurchase of shares (1,945)   $ (1,945)    
Exercise of stock-based awards by employees and directors (in shares) [1]   105,000      
Exercise of stock-based awards by employees and directors 89     89  
Net loss (9,146)       (9,146)
Ending balance (in shares) at Mar. 31, 2025 [1]   9,076,000      
Ending balance at Mar. 31, 2025 $ (187,708) $ 1 $ (1,945) 3,160 (188,924)
Treasury stock, ending balance (in shares) at Mar. 31, 2025 [1]     265,000    
Beginning balance (in shares) at Dec. 31, 2025 279,995,000        
Beginning balance at Dec. 31, 2025 $ 1,022,942        
Redeemable convertible preferred stock          
Other (56)        
Ending balance at Mar. 31, 2026 $ 1,022,886        
Ending balance (in shares) at Mar. 31, 2026 279,995,000        
Beginning balance (in shares) at Dec. 31, 2025 12,000        
Beginning balance at Dec. 31, 2025 $ 179,930        
Redeemable noncontrolling interest          
Remeasurement of noncontrolling interests 3,434        
Ending balance at Mar. 31, 2026 $ 183,364        
Ending balance (in shares) at Mar. 31, 2026 12,000        
Beginning balance (in shares) at Dec. 31, 2025 9,457,000 [2] 9,457,000 [3]      
Beginning balance at Dec. 31, 2025 $ (246,498) $ 1 $ (1,960) 0 (244,539)
Treasury stock, beginning balance (in shares) at Dec. 31, 2025 270,000 [2]   270,000 [3]    
Total stockholders’ deficit          
Remeasurement of noncontrolling interests $ (3,434)     (3,441) 7
Stock-based compensation 2,615     2,615  
Exercise of stock-based awards by employees and directors (in shares) [3]   416,000      
Exercise of stock-based awards by employees and directors 826     826  
Net loss $ (31,830)       (31,830)
Ending balance (in shares) at Mar. 31, 2026 9,873,000 [2] 9,873,000 [3]      
Ending balance at Mar. 31, 2026 $ (278,321) $ 1 $ (1,960) $ 0 $ (276,362)
Treasury stock, ending balance (in shares) at Mar. 31, 2026 270,000 [2]   270,000 [3]    
[1] Shares for periods presented have been retroactively adjusted to reflect the 0.7194-for-1 reverse stock split effected on May 14, 2026 in connection with the Company’s IPO. See Note 2 – Significant Accounting Policies and Note 17 – Subsequent Events for details.
[2] Shares for periods presented have been retroactively adjusted to reflect the 0.7194-for-1 reverse stock split effected on May 14, 2026 in connection with the Company’s initial public offering (“IPO”). See Note 2 – Significant Accounting Policies and Note 17 – Subsequent Events for details.
[3] Shares for periods presented have been retroactively adjusted to reflect the 0.7194-for-1 reverse stock split effected on May 14, 2026 in connection with the Company’s IPO. See Note 2 – Significant Accounting Policies and Note 17 – Subsequent Events for details.