v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS' DEFICIT AND STOCKHOLDERS' EQUITY (unaudited) - USD ($)
$ in Thousands
Total
Initial Public Offering
Greenfield Agreement
Common Stock
Common Stock
Greenfield Agreement
Members' Equity
Additional Paid-in Capital
Additional Paid-in Capital
Greenfield Agreement
Accumulated Other Comprehensive Loss
Accumulated Deficit
Noncontrolling Interest
Beginning Balance at Dec. 31, 2024 $ (260)         $ 9,982     $ (334) $ (9,908)  
Equity contribution from parent 32         32          
Change in foreign currency translation (15)               (15)    
Net loss (301)                 (301)  
Ending Balance at Mar. 31, 2025 (544)         10,014     (349) (10,209)  
Beginning Balance at Dec. 31, 2024 (260)         9,982     (334) (9,908)  
Change in foreign currency translation (43)                    
Net loss (902)                    
Ending Balance at Jun. 30, 2025 (1,142)         10,045     (377) (10,810)  
Beginning Balance at Mar. 31, 2025 (544)         10,014     (349) (10,209)  
Equity contribution from parent 31         31          
Change in foreign currency translation (28)               (28)    
Net loss (601)                 (601)  
Ending Balance at Jun. 30, 2025 (1,142)         $ 10,045     (377) (10,810)  
Beginning Balance, Shares at Dec. 31, 2025       14,965,987              
Beginning Balance at Dec. 31, 2025 28,463     $ 1     $ 46,292   (267) (19,838) $ 2,275
Stock-based compensation expense 205           205        
Change in foreign currency translation (75)               (75)    
Net loss (16,781)                 (16,781)  
Ending Balance at Mar. 31, 2026 11,812     $ 1     46,497   (342) (36,619) 2,275
Ending Balance, Shares at Mar. 31, 2026       14,965,987              
Beginning Balance, Shares at Dec. 31, 2025       14,965,987              
Beginning Balance at Dec. 31, 2025 28,463     $ 1     46,292   (267) (19,838) 2,275
Change in foreign currency translation (225)                    
Net loss (29,571)                    
Ending Balance at Jun. 30, 2026 87,286     $ 2     134,910   (492) (49,409) 2,275
Ending Balance, Shares at Jun. 30, 2026       19,953,892              
Beginning Balance, Shares at Mar. 31, 2026       14,965,987              
Beginning Balance at Mar. 31, 2026 11,812     $ 1     46,497   (342) (36,619) 2,275
Conversion of SAFE into common stock, Shares       1,037,100              
Conversion of SAFE into common stock 19,705           19,705        
Conversion of related party convertible loan into common stock, Shares       201,807              
Conversion of related party convertible loan into common stock 1,322           1,322        
Issuances of Common Stock, Shares   3,633,120     19,052            
Issuances of Common Stock 59,955 $ 1 $ 362       59,954 $ 362      
Exercise of warrants and reclassification of warrant liability, Shares       46,610              
Exercise of warrants and reclassification of warrant liability 891           891        
Vesting and settlement of restricted stock units, Shares       57,370              
Vesting and settlement of restricted stock units 438           438        
Shares withheld to satisfy tax withholding obligations, Shares       (7,154)              
Shares withheld to satisfy tax withholding obligations (162)           (162)        
Stock-based compensation expense 5,903           5,903        
Change in foreign currency translation (150)               (150)    
Net loss (12,790)                 (12,790)  
Ending Balance at Jun. 30, 2026 $ 87,286     $ 2     $ 134,910   $ (492) $ (49,409) $ 2,275
Ending Balance, Shares at Jun. 30, 2026       19,953,892