v3.26.1
Segment Information
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Segment Information [Line Items]    
Segment Information

Note 6 — Segment Information

 

The Company operates as a single operating segment and addresses the threat of fake news for brands and the public sector and provide a software which identifies bad actors online and mitigates the threat in real-time. The company’s CODM is its Chief Executive Officer (CEO). The CODM reviews the Company’s performance on a consolidated basis. The CODM evaluates the Company’s performance and allocates resources by reviewing financial metrics like budget versus actual results and expenditures, as well as cash balances. This enables strategic adjustments to support operational and financial goals. As such, the segment’s loss is the Company’s consolidated net loss and the segment’s assets are the Company’s consolidated cash and cash equivalents.

 

Segment disclosures

 

The CODM reviews the Company’s results on a consolidated basis. As such, information on segment loss and significant expenses is similar to the Company’s consolidated statements of operations. The CODM is also regularly provided with information on significant expenses and cash and cash equivalents balances, as follow:

 

   

Three months ended

March 31,

  
    2026     2025  
    USD thousands     USD thousands  
Revenues   $ 1,415     $ 1,260  
Less:                
Cost of revenues     192       196  
R&D expenses- excluding stock-based compensation expenses     2,815       1,315  
S&M expenses- excluding stock-based compensation expenses     1,162       1,510  
G&A expenses- excluding stock-based compensation expenses     3,853       888  
Stock based compensation expenses     5,217       1,389  
Operating loss     (11,824 )     (4,038 )
Finance expenses     (1,054 )     (724 )
Net loss     (10,770 )     (3,314 )
Cash and cash equivalents   $ 3,122     $ 688  

Note 11 — Segment Information

 

The Company operates as a single operating segment and addresses the threat of fake news for brands and the public sector and provide a software which identifies bad actors online and mitigates the threat in real-time. The company’s CODM is its Chief Executive Officer (CEO). The CODM reviews the Company’s performance on a consolidated basis. The CODM evaluates the Company’s performance and allocates resources by reviewing financial metrics like budget versus actual results and expenditures, as well as cash balances. This enables strategic adjustments to support operational and financial goals. As such, the segment’s loss is the Company’s consolidated net loss and the segment’s assets are the Company’s consolidated cash and cash equivalents.

 

Segment disclosures

 

The CODM reviews the Company’s results on a consolidated basis. As such, information on segment loss and significant expenses is similar to the Company’s consolidated statements of operations. The CODM is also regularly provided with information on significant expenses and cash and cash equivalents balances, as follow:

 

    Year ended
 December 31
 2025		     Year ended
 December 31
 2024		  
    USD thousands     USD thousands  
Revenues     5,707       4,155  
Less:                
Cost of revenues     866       782  
R&D expenses – excluding stock based compensation expenses     5,800       4,076  
S&M expenses – excluding stock based compensation expenses     5,141       3,265  
G&A expenses – excluding stock-based compensation expenses     2,846       3,679  
Stock based compensation expenses     3,024       1,551  
Operating loss     11,970       9,198  
                 
Interest expense     493       216  
Other financial expenses     335       6,182  
Taxes on Income     21       14  
Net loss     12,819       15,610  
                 
Cash and cash equivalents     294       927  
TRAILBLAZER HOLDINGS, INC. [Member]    
Segment Information [Line Items]    
Segment Information  

NOTE 6. SEGMENT INFORMATION

 

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

 

The Company’s CODM has been identified as the Chief Executive Officer, who reviews the assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only one reportable segment.

 

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statements of operations as net income or loss. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews the below key metric included in net income or loss:

 

    For The
Year ended
December 31,
2025		     For The
Period from
July 16, 2024
(inception)
through
December 31,
2024		  
Operating expenses   $ 156,348     $ 53,820  

 

Operating expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination or similar transaction within the business combination period. The CODM also reviews operating expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. Operating expenses, as reported on the statements of operations, are the significant segment expenses provided to the CODM on a regular basis.