v3.26.1
Condensed Consolidated Statements of Changes in Redeemable Non-controlling interest and Shareholders’ Equity - USD ($)
$ in Thousands
Total
Common Class A
Common Class B
Redeemable non-controlling interest
Common Stock
Common Class A
Common Stock
Common Class B
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Sep. 28, 2024         0 0      
Beginning balance at Sep. 28, 2024 $ 905,252       $ 0 $ 0 $ 905,252 $ 0 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 42,594           42,594    
Net loss attributable to common shareholders (38,587)             (38,587)  
Ending balance (in shares) at Dec. 28, 2024         0 0      
Ending balance at Dec. 28, 2024 909,259       $ 0 $ 0 947,846 (38,587) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 47,449           47,449    
Net loss attributable to common shareholders (40,914)             (40,914)  
Ending balance (in shares) at Mar. 29, 2025         0 0      
Ending balance at Mar. 29, 2025 915,794       $ 0 $ 0 995,295 (79,501) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 37,660           37,660    
Net loss attributable to common shareholders (38,019)             (38,019)  
Ending balance (in shares) at Jun. 28, 2025         0 0      
Ending balance at Jun. 28, 2025 915,435       $ 0 $ 0 1,032,955 (117,520) 0
Beginning balance at Sep. 27, 2025       $ 0          
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Recognition of redeemable non-controlling interest       2,388,639          
Net loss attributable to non-controlling interest       (13,088)          
Ending balance at Dec. 31, 2025       2,375,551          
Beginning balance (in shares) at Sep. 27, 2025   0 0   0 0      
Beginning balance at Sep. 27, 2025 915,326       $ 0 $ 0 915,326 0 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 394,499           394,499    
Effects of reorganization and business combination (in shares)         28,560,344 78,992,518      
Effects of reorganization and business combination 1,347,728       $ 3 $ 8 1,347,717    
Recognition of redeemable non-controlling interest (2,388,639)           (2,388,639)    
Exercise of stock options (in shares)         2,334        
Exercise of stock options 36           36    
Delivery of common stock underlying restricted stock units (in shares)         764,071        
Stock-based compensation 12,674           12,674    
Foreign currency translation adjustment (162)               (162)
Net loss attributable to common shareholders (5,976)             (5,976)  
Ending balance (in shares) at Dec. 31, 2025         29,326,749 78,992,518      
Ending balance at Dec. 31, 2025 275,486       $ 3 $ 8 281,613 (5,976) (162)
Beginning balance at Sep. 27, 2025       0          
Ending balance at Jun. 30, 2026       1,825,516          
Beginning balance (in shares) at Sep. 27, 2025   0 0   0 0      
Beginning balance at Sep. 27, 2025 $ 915,326       $ 0 $ 0 915,326 0 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Exercise of stock options (in shares) 13,719                
Ending balance (in shares) at Jun. 30, 2026   29,484,803 78,992,518   29,484,803 78,992,518      
Ending balance at Jun. 30, 2026 $ 813,353       $ 3 $ 8 829,743 (16,301) (100)
Beginning balance at Dec. 31, 2025       2,375,551          
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Remeasurement of redeemable non-controlling interest 528,443     (528,443)     528,443    
Net loss attributable to non-controlling interest       (4,105)          
Ending balance at Mar. 31, 2026       1,843,003          
Beginning balance (in shares) at Dec. 31, 2025         29,326,749 78,992,518      
Beginning balance at Dec. 31, 2025 275,486       $ 3 $ 8 281,613 (5,976) (162)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Remeasurement of redeemable non-controlling interest 528,443     (528,443)     528,443    
Exercise of stock options (in shares)         629        
Exercise of stock options 3           3    
Delivery of common stock underlying restricted stock units (in shares)         108,384        
Cash in lieu payment on fractional shares under reverse stock split (in shares)         (165)        
Cash in lieu payment on fractional shares under reverse stock split (2)           (2)    
Stock-based compensation 10,167           10,167    
Foreign currency translation adjustment (18)               (18)
Net loss attributable to common shareholders (2,101)             (2,101)  
Ending balance (in shares) at Mar. 31, 2026         29,435,597 78,992,518      
Ending balance at Mar. 31, 2026 811,978       $ 3 $ 8 820,224 (8,077) (180)
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net loss attributable to non-controlling interest       (17,487)          
Ending balance at Jun. 30, 2026       $ 1,825,516          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Exercise of stock options (in shares)         10,756        
Exercise of stock options 63           63    
Delivery of common stock underlying restricted stock units (in shares)         38,450        
Stock-based compensation 9,456           9,456    
Foreign currency translation adjustment 80               80
Net loss attributable to common shareholders (8,224)             (8,224)  
Ending balance (in shares) at Jun. 30, 2026   29,484,803 78,992,518   29,484,803 78,992,518      
Ending balance at Jun. 30, 2026 $ 813,353       $ 3 $ 8 $ 829,743 $ (16,301) $ (100)