v3.26.1
Condensed Consolidated Statements of Stockholders’ Equity - USD ($)
$ in Thousands
Total
February 2026 PIPE Transaction
May 2025 PIPE Transaction
May 2025 PIPE Transaction
Series B Warrants
June 2025 PIPE Transaction
April 2025 PIPE Transaction
Common Stock
Common Stock
May 2025 PIPE Transaction
Common Stock
May 2025 PIPE Transaction
Series B Warrants
Common Stock
April 2025 PIPE Transaction
Common Stock
January 2024 PIPE Transaction
Additional Paid-In Capital
Additional Paid-In Capital
February 2026 PIPE Transaction
Additional Paid-In Capital
May 2025 PIPE Transaction
Series B Warrants
Additional Paid-In Capital
June 2025 PIPE Transaction
Additional Paid-In Capital
April 2025 PIPE Transaction
Accumulated Other Comprehensive Income
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024             9,015,087                      
Beginning balance at Dec. 31, 2024 $ 18,429           $ 8         $ 525,611         $ 4,209 $ (511,399)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net loss (25,473)                                 (25,473)
Stock-based compensation 2,042                     2,042            
Foreign exchange translation adjustment (285)                               (285)  
Ending balance (in shares) at Mar. 31, 2025             9,015,087                      
Ending balance at Mar. 31, 2025 (5,287)           $ 8         527,653         3,924 (536,872)
Beginning balance (in shares) at Dec. 31, 2024             9,015,087                      
Beginning balance at Dec. 31, 2024 18,429           $ 8         525,611         4,209 (511,399)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net loss (52,293)                                  
Foreign exchange translation adjustment (1,684)                                  
Ending balance (in shares) at Jun. 30, 2025             9,865,060                      
Ending balance at Jun. 30, 2025 33,911           $ 9         595,069         2,525 (563,692)
Beginning balance (in shares) at Dec. 31, 2024             9,015,087                      
Beginning balance at Dec. 31, 2024 $ 18,429           $ 8         525,611         4,209 (511,399)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Exercise of warrants (in shares)             2,163,413                      
Ending balance (in shares) at Dec. 31, 2025 12,038,263           12,038,263                      
Ending balance at Dec. 31, 2025 $ (6,673)           $ 9         599,241         2,648 (608,571)
Beginning balance (in shares) at Mar. 31, 2025             9,015,087                      
Beginning balance at Mar. 31, 2025 (5,287)           $ 8         527,653         3,924 (536,872)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net loss (26,820)                                 (26,820)
Stock-based compensation 1,899                     1,899            
Foreign exchange translation adjustment (1,399)                               (1,399)  
Issuance of pre-funded warrants         $ 60,661                   $ 60,661      
Issuance of common stock (in shares)                   566,667                
Issuance of common stock           $ 4,734       $ 1           $ 4,733    
Exercise of warrants (in shares)             261,341       261,306              
Shares issued in connection with the Company's employee stock purchase plan (in shares)             22,000                      
Shares issued in connection with the Company's employee stock purchase plan 123                     123            
Ending balance (in shares) at Jun. 30, 2025             9,865,060                      
Ending balance at Jun. 30, 2025 $ 33,911           $ 9         595,069         2,525 (563,692)
Beginning balance (in shares) at Dec. 31, 2025 12,038,263           12,038,263                      
Beginning balance at Dec. 31, 2025 $ (6,673)           $ 9         599,241         2,648 (608,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net loss (32,588)                                 (32,588)
Stock-based compensation 1,443                     1,443            
Foreign exchange translation adjustment 409                               409  
Issuance of common stock   $ 187,263                     $ 187,263          
Exercise of warrants (in shares)               1,383,220 200,000                  
Exercise of warrants     $ 2 $ 1,377       $ 2           $ 1,377        
Ending balance (in shares) at Mar. 31, 2026             13,621,483                      
Ending balance at Mar. 31, 2026 $ 151,233           $ 11         789,324         3,057 (641,159)
Beginning balance (in shares) at Dec. 31, 2025 12,038,263           12,038,263                      
Beginning balance at Dec. 31, 2025 $ (6,673)           $ 9         599,241         2,648 (608,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net loss (66,687)                                  
Foreign exchange translation adjustment $ 124                                  
Exercise of warrants (in shares)             1,383,220                      
Ending balance (in shares) at Jun. 30, 2026 13,644,467           13,644,467                      
Ending balance at Jun. 30, 2026 $ 127,581           $ 13         800,054         2,772 (675,258)
Beginning balance (in shares) at Mar. 31, 2026             13,621,483                      
Beginning balance at Mar. 31, 2026 151,233           $ 11         789,324         3,057 (641,159)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net loss (34,099)                                 (34,099)
Stock-based compensation 5,416                     5,416            
Reclassification of Stock Appreciation Rights ("SARs") liability to equity 5,198                     5,198            
Foreign exchange translation adjustment (285)                               (285)  
Shares issued in connection with the Company's employee stock purchase plan (in shares)             18,884                      
Shares issued in connection with the Company's employee stock purchase plan 86           $ 2         84            
Exercise of employee stock options ( in shares)             4,100                      
Exercise of employee stock options $ 32                     32            
Ending balance (in shares) at Jun. 30, 2026 13,644,467           13,644,467                      
Ending balance at Jun. 30, 2026 $ 127,581           $ 13         $ 800,054         $ 2,772 $ (675,258)