v3.26.1
BALANCE SHEETS - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Oct. 28, 2024
Dec. 31, 2023
Current assets            
Total current assets $ 33,995,000 $ 32,891,000   $ 49,638,000    
Total Assets 62,391,000 62,784,000   116,033,000    
Current Liabilities            
Accrued expenses 4,128,000 2,981,000   2,023,000    
Total current liabilities 6,185,000 5,079,000   4,419,000    
Total Liabilities 41,382,000 34,526,000   22,877,000    
Commitments and Contingencies (Note 6)      
Class A ordinary shares subject to possible redemption, 27,600,000 shares at redemption value of approximately $10.36 and $10.27 per share as of March 31, 2026 and December 31, 2025, respectively 249,652,000 249,652,000 $ 249,652,000 249,652,000   $ 249,652,000
Shareholders' Deficit            
Ordinary share, value 0 0        
Additional paid-in capital 36,285,000 34,661,000   25,193,000    
Accumulated deficit (264,151,000) (255,576,000)   (181,731,000)    
Accumulated other comprehensive (loss) income (743,000) (445,000)   76,000    
Treasury stock, at cost; 108,466 shares as of December 31, 2025, and 2024 (34,000) (34,000)   (34,000)    
Total Shareholders' Deficit (228,643,000) (221,394,000) (165,499,000) (156,496,000)   $ (111,253,000)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders' Deficit 62,391,000 62,784,000   116,033,000    
Cartesian Growth Corporation III            
Current assets            
Cash 396,210 624,163   0    
Prepaid insurance - current 112,307 112,307        
Prepaid expenses 833 3,669   3,202    
Total current assets 509,350 740,139   3,202    
Deferred offering costs       263,676    
Prepaid insurance - long term 9,359 37,435        
Investments held in Trust Account 285,868,994 283,377,276   0    
Total Assets 286,387,703 284,154,850   266,878    
Current Liabilities            
Accrued offering costs 75,000 75,000   242,872    
Accrued expenses 1,312,305 759,869        
Total current liabilities 1,387,305 834,869   284,498    
Deferred underwriting fee 13,140,000 13,140,000        
Total Liabilities 14,527,305 13,974,869   284,498    
Commitments and Contingencies (Note 6)      
Shareholders' Deficit            
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding      
Additional paid-in capital       24,310    
Accumulated deficit (14,009,286) (13,197,985)   (42,620)    
Total Shareholders' Deficit (14,008,596) (13,197,295) $ (38,069) (17,620) $ 0  
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders' Deficit 286,387,703 284,154,850   266,878    
Class A ordinary shares | Cartesian Growth Corporation III            
Shareholders' Deficit            
Ordinary share, value 0 0   0    
Class A ordinary shares subject to redemption | Cartesian Growth Corporation III            
Current Liabilities            
Class A ordinary shares subject to possible redemption, 27,600,000 shares at redemption value of approximately $10.36 and $10.27 per share as of March 31, 2026 and December 31, 2025, respectively 285,868,994 283,377,276        
Class B ordinary shares | Cartesian Growth Corporation III            
Shareholders' Deficit            
Ordinary share, value $ 690 $ 690   $ 690