v3.26.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
 1 Months Ended 4 Months Ended 11 Months Ended
Jun. 06, 2025
Apr. 30, 2025
Apr. 30, 2026
Revenue $ 2,928 $ 27,992 $ 26,407
Cost of revenue 2,002 18,013 18,536
Gross profit     7,871
Operating expenses      
Management fees to affiliate     5,010
Selling, general and administrative expenses     25,618
Shareholder advisory expenses     4,644
Unrealized loss on digital assets     130,315
Realized loss on digital assets     1,293
Other affiliate operating expenses     558
Total operating expenses     167,438
Operating income (loss)     (159,567)
Other income (loss), net      
Airdrop income     7,863
Gain on change in fair value of warrant liability     282,920
PIPE Transaction costs     (14,551)
Business combination expenses     (970)
Other income (expense), net     18
Total other income (loss), net     274,440
Income before income tax expense (benefit) 21 707 114,873
Income tax expense (benefit) 2 137 (372)
Net income $ 19 $ 570 115,245
Other comprehensive income (loss)      
Foreign currency translation adjustment     59
Total comprehensive income     $ 115,304
Net income per share of common stock attributable to common shareholders      
Basic (in usd per share) $ 13.48 $ 404.20 $ 2.52
Diluted (in usd per share) $ 13.48 $ 404.20 $ 2.52
Weighted average number of common shares outstanding      
Basic (in shares) 1,410 1,410 45,686,394
Diluted (in shares) 1,410 1,410 45,797,971
Predecessor      
Revenue $ 2,928 $ 27,992  
Cost of revenue 2,002 18,013  
Gross profit 926 9,979  
Operating expenses      
Management fees to affiliate 0 0  
Selling, general and administrative expenses 905 8,819  
Shareholder advisory expenses 0 0  
Unrealized loss on digital assets 0 0  
Realized loss on digital assets 0 0  
Other affiliate operating expenses 0 0  
Total operating expenses 905 8,819  
Operating income (loss) 21 1,160  
Other income (loss), net      
Airdrop income 0 0  
Gain on change in fair value of warrant liability 0 0  
PIPE Transaction costs 0 0  
Business combination expenses 0 0  
Other income (expense), net 0 (453)  
Total other income (loss), net 0 (453)  
Income before income tax expense (benefit) 21 707  
Income tax expense (benefit) 2 137  
Net income 19 570  
Other comprehensive income (loss)      
Foreign currency translation adjustment 35 (1)  
Total comprehensive income $ 54 $ 569  
Net income per share of common stock attributable to common shareholders      
Basic (in usd per share) $ 13.48 $ 404.20  
Diluted (in usd per share) $ 13.48 $ 404.20  
Weighted average number of common shares outstanding      
Basic (in shares) 1,410 1,410  
Diluted (in shares) 1,410 1,410  
Nonrelated Party      
Other income (loss), net      
Interest expense     $ (697)
Nonrelated Party | Predecessor      
Other income (loss), net      
Interest expense $ 0 $ 0  
Related Party      
Other income (loss), net      
Interest expense     $ (143)
Related Party | Predecessor      
Other income (loss), net      
Interest expense $ 0 $ 0