v3.26.1
Statements of Equity (unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Net Parent Investment
Accumulated Other Comprehensive (Loss) Gain
Accumulated Deficit
Beginning Balance at Dec. 31, 2024 $ 391,596     $ 391,291 $ 305 $ 0
Stock-based compensation 7,746     7,746 0 0
Net parent investment 5,716     5,716 0 0
Comprehensive income, net (144) $ 0     (144) 0
Net Income (Loss) (47,196)     (47,196) 0 0
Ending Balance at Mar. 31, 2025 357,718     357,557 161 0
Beginning Balance at Dec. 31, 2024 391,596     391,291 305 0
Net Income (Loss) (89,641)          
Ending Balance at Jun. 30, 2025 270,657     270,663 (6) 0
Beginning Balance at Mar. 31, 2025 357,718     357,557 161 0
Stock-based compensation 7,656     7,656 0 0
Net parent investment (52,105)     (52,105) 0 0
Comprehensive income, net (167) $ 0     (167) 0
Net Income (Loss) (42,445)     (42,445) 0 0
Ending Balance at Jun. 30, 2025 $ 270,657     270,663 (6) 0
Beginning Balance at Dec. 31, 2025 0 0        
Beginning Balance at Dec. 31, 2025 $ 287,490 $ 0 $ 0 287,514 (24) 0
Stock-based compensation 11,503 0 0 11,503 0 0
Net parent investment 9,077 $ 0 0 9,077 0 0
Net parent investment, shares   0        
Comprehensive income, net (122) $ 0 0 0 (122) 0
Net Income (Loss) (50,484) $ 0 0 (50,484) 0 0
Ending Balance at Mar. 31, 2026   0        
Ending Balance at Mar. 31, 2026 $ 257,464 $ 0 0 257,610 (146) 0
Beginning Balance at Dec. 31, 2025 0 0        
Beginning Balance at Dec. 31, 2025 $ 287,490 $ 0 0 287,514 (24) 0
Net Income (Loss) $ (83,858)          
Ending Balance at Jun. 30, 2026 35,390,679 35,391,000        
Ending Balance at Jun. 30, 2026 $ 168,796 $ 35 193,337 0 0 (24,576)
Beginning Balance at Mar. 31, 2026   0        
Beginning Balance at Mar. 31, 2026 257,464 $ 0 0 257,610 (146) 0
Issuance of common stock from exercises of options 2,591 $ 0 2,591 0 0 0
Issuance of common stock from exercises of options, Share   441,000        
Issuance of common stock upon vesting of restricted stock units and performance stock units 0 $ 0 0 0 0 0
Issuance of common stock upon vesting of restricted stock units and performance stock units, Share   57,000        
Issuance of common stock in connection with the spin-off and reclassification of net parent investment (241,041) $ 29 109,214 (350,284) 0 0
Issuance of common stock in connection with the spin-off and reclassification of net parent investment, Share   29,101,000        
Issuance of common stock, net of transaction costs 74,691 $ 6 74,685   0 0
Issuance of common stock, net of transaction costs, Share   5,792,000        
Stock-based compensation 8,319 $ 0 6,847 1,472 0 0
Stock-based compensation, Shares   0        
Transfers from former parent 100,000 $ 0   100,000 0 0
Transfers from former parent, Shares   0        
Comprehensive income, net 146 $ 0 0 0 146 0
Net Income (Loss) $ (33,374) $ 0 0 (8,798) 0 (24,576)
Ending Balance at Jun. 30, 2026 35,390,679 35,391,000        
Ending Balance at Jun. 30, 2026 $ 168,796 $ 35 $ 193,337 $ 0 $ 0 $ (24,576)