v3.26.1
Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit (Unaudited) - USD ($)
$ in Thousands
Total
IPO
Series A Convertible Preferred Stock
Series A Convertible Preferred Stock
IPO
Series B Convertible Preferred Stock
Series B Convertible Preferred Stock
IPO
Series C Convertible Preferred Stock
Series C Convertible Preferred Stock
IPO
Series D Convertible Preferred Stock
Series D Convertible Preferred Stock
IPO
Common Stock
Common Stock
IPO
Additional Paid-in Capital
Additional Paid-in Capital
IPO
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Temporary equity beginning balance, shares at Dec. 31, 2024     45,414,682   26,601,360   24,901,598   0              
Temporary equity beginning balance at Dec. 31, 2024     $ 223,869   $ 167,765   $ 123,259   $ 0              
Beginning balance, shares at Dec. 31, 2024                     959,115          
Beginning balance at Dec. 31, 2024 $ (382,527)                   $ 0   $ 38,306   $ (419,492) $ (1,341)
Share-based payment award, options, exercises in period                     8,985          
Exercises of common stock options 235                       235      
Vesting of restricted common stock, shares                     23,967          
Stock-based compensation expense 2,989                       2,989      
Other comprehensive income, net 565                             565
Net Income (Loss) (38,435)                           (38,435)  
Temporary equity ending balance, shares at Mar. 31, 2025     45,414,682   26,601,360   24,901,598   0              
Temporary equity ending balance at Mar. 31, 2025     $ 223,869   $ 167,765   $ 123,259   $ 0              
Ending balance, shares at Mar. 31, 2025                     992,067          
Ending balance at Mar. 31, 2025 (417,173)                   $ 0   41,530   (457,927) (776)
Temporary equity beginning balance, shares at Dec. 31, 2024     45,414,682   26,601,360   24,901,598   0              
Temporary equity beginning balance at Dec. 31, 2024     $ 223,869   $ 167,765   $ 123,259   $ 0              
Beginning balance, shares at Dec. 31, 2024                     959,115          
Beginning balance at Dec. 31, 2024 (382,527)                   $ 0   38,306   (419,492) (1,341)
Conversion of preferred stock into common stock 0                              
Other comprehensive income, net 1,884                              
Net Income (Loss) (79,670)                              
Temporary equity ending balance, shares at Jun. 30, 2025     43,732,797   26,601,360   24,901,598   79,518,143              
Temporary equity ending balance at Jun. 30, 2025     $ 216,503   $ 167,765   $ 123,259   $ 109,095              
Ending balance, shares at Jun. 30, 2025                     1,075,837          
Ending balance at Jun. 30, 2025 (436,362)                   $ 0   62,257   (499,162) 543
Temporary equity beginning balance, shares at Mar. 31, 2025     45,414,682   26,601,360   24,901,598   0              
Temporary equity beginning balance at Mar. 31, 2025     $ 223,869   $ 167,765   $ 123,259   $ 0              
Beginning balance, shares at Mar. 31, 2025                     992,067          
Beginning balance at Mar. 31, 2025 (417,173)                   $ 0   41,530   (457,927) (776)
Vesting of restricted common stock, shares                     7,989          
Stock-based compensation expense 3,698                       3,698      
Temporary equity, Issuance of convertible preferred stock and common stock warrants, net of issuance costs, shares                 79,518,143              
Temporary equity, Issuance of convertible preferred stock and common stock warrants, net of issuance costs                 $ 109,095              
Issuance of convertible preferred stock and common stock warrants, net of issuance costs 9,657                       9,657      
Temporary equity Conversion of preferred stock into common stock, shares     (1,681,885)                          
Temporary equity Conversion of preferred stock into common stock     $ (7,366)                          
Conversion of preferred stock into common stock, shares                     17,308          
Conversion of preferred stock into common stock 7,366                       7,366      
Exercise of common stock warrants, shares                     58,473          
Exercise of common stock warrants 6                       6      
Other comprehensive income, net 1,319                             1,319
Net Income (Loss) (41,235)                           (41,235)  
Temporary equity ending balance, shares at Jun. 30, 2025     43,732,797   26,601,360   24,901,598   79,518,143              
Temporary equity ending balance at Jun. 30, 2025     $ 216,503   $ 167,765   $ 123,259   $ 109,095              
Ending balance, shares at Jun. 30, 2025                     1,075,837          
Ending balance at Jun. 30, 2025 (436,362)                   $ 0   62,257   (499,162) 543
Temporary equity beginning balance, shares at Dec. 31, 2025     43,732,797   26,601,360   24,901,598   141,950,377              
Temporary equity beginning balance at Dec. 31, 2025     $ 216,503   $ 167,765   $ 123,259   $ 196,031              
Beginning balance, shares at Dec. 31, 2025                     2,306,207          
Beginning balance at Dec. 31, 2025 (488,278)                   $ 0   79,616   (568,139) 245
Share-based payment award, options, exercises in period                     159,842          
Exercises of common stock options 651                       651      
Vesting of restricted common stock, shares                     13,239          
Stock-based compensation expense 2,587                       2,587      
Exercise of common stock warrants, shares                     2,051          
Other comprehensive income, net (392)                             (392)
Net Income (Loss) (38,262)                           (38,262)  
Temporary equity ending balance, shares at Mar. 31, 2026     43,732,797   26,601,360   24,901,598   141,950,377              
Temporary equity ending balance at Mar. 31, 2026     $ 216,503   $ 167,765   $ 123,259   $ 196,031              
Ending balance, shares at Mar. 31, 2026                     2,481,339          
Ending balance at Mar. 31, 2026 (523,694)                   $ 0   82,854   (606,401) (147)
Temporary equity beginning balance, shares at Dec. 31, 2025     43,732,797   26,601,360   24,901,598   141,950,377              
Temporary equity beginning balance at Dec. 31, 2025     $ 216,503   $ 167,765   $ 123,259   $ 196,031              
Beginning balance, shares at Dec. 31, 2025                     2,306,207          
Beginning balance at Dec. 31, 2025 $ (488,278)                   $ 0   79,616   (568,139) 245
Share-based payment award, options, exercises in period 257,152                              
Conversion of preferred stock into common stock $ 703,630                              
Other comprehensive income, net (750)                              
Net Income (Loss) (91,050)                              
Temporary equity ending balance, shares at Jun. 30, 2026     0   0   0   0              
Temporary equity ending balance at Jun. 30, 2026     $ 0   $ 0   $ 0   $ 0              
Ending balance, shares at Jun. 30, 2026                     47,891,252          
Ending balance at Jun. 30, 2026 421,221                   $ 5   1,080,910   (659,189) (505)
Temporary equity beginning balance, shares at Mar. 31, 2026     43,732,797   26,601,360   24,901,598   141,950,377              
Temporary equity beginning balance at Mar. 31, 2026     $ 216,503   $ 167,765   $ 123,259   $ 196,031              
Beginning balance, shares at Mar. 31, 2026                     2,481,339          
Beginning balance at Mar. 31, 2026 (523,694)                   $ 0   82,854   (606,401) (147)
Share-based payment award, options, exercises in period                     97,310          
Exercises of common stock options 586                       586      
Vesting of restricted common stock, shares                     13,243          
Stock-based compensation expense 5,671                       5,671      
Issuance of common stock upon initial public offering, net of offering costs, shares                       17,488,889        
Issuance of common stock upon initial public offering, net of offering costs   $ 288,174                   $ 2   $ 288,172    
Temporary equity Conversion of preferred stock into common stock, shares       (43,732,797)   (26,601,360)   (24,901,598)   (141,950,377)            
Temporary equity Conversion of preferred stock into common stock       $ (216,503)   $ (167,765)   $ (123,259)   $ (196,031)            
Conversion of preferred stock into common stock, shares                       24,523,119        
Conversion of preferred stock into common stock   $ 703,630                   $ 3   $ 703,627    
Conversion of common stock warrants into common stock upon initial public offering, shares                       3,287,352        
Other comprehensive income, net (358)                             (358)
Net Income (Loss) (52,788)                           (52,788)  
Temporary equity ending balance, shares at Jun. 30, 2026     0   0   0   0              
Temporary equity ending balance at Jun. 30, 2026     $ 0   $ 0   $ 0   $ 0              
Ending balance, shares at Jun. 30, 2026                     47,891,252          
Ending balance at Jun. 30, 2026 $ 421,221                   $ 5   $ 1,080,910   $ (659,189) $ (505)