v3.26.1
Condensed Consolidated Statements of Shareholders' Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Reverse Recapitalization   44,104,171    
Reverse recapitalization   $ 3 $ (3)  
Balances, shares at Dec. 31, 2024   45,004,275    
Balances, shares (Before Reverse Recapitalization) at Dec. 31, 2024   900,104    
Balances at Dec. 31, 2024 $ (591) $ 3 0 $ (594)
Balances (Before Reverse Recapitalization) at Dec. 31, 2024 (591)   3 (594)
Net income (loss) (220)     (220)
Stock-based compensation 9   9  
Vesting of restricted shares, shares   15,650    
Balances, shares at Mar. 31, 2025   45,019,925    
Balances at Mar. 31, 2025 (802) $ 3 9 (814)
Balances, shares at Dec. 31, 2024   45,004,275    
Balances, shares (Before Reverse Recapitalization) at Dec. 31, 2024   900,104    
Balances at Dec. 31, 2024 (591) $ 3 0 (594)
Balances (Before Reverse Recapitalization) at Dec. 31, 2024 (591)   3 (594)
Net income (loss) (6,982)      
Balances, shares at Jun. 30, 2025   46,035,504    
Balances at Jun. 30, 2025 (6,969) $ 5 602 (7,576)
Balances, shares at Mar. 31, 2025   45,019,925    
Balances at Mar. 31, 2025 (802) $ 3 9 (814)
Net income (loss) (6,762)     (6,762)
Stock-based compensation 595   595  
Vesting of restricted shares, shares   1,015,579    
Vesting of restricted shares, value   $ 2 (2)  
Balances, shares at Jun. 30, 2025   46,035,504    
Balances at Jun. 30, 2025 $ (6,969) $ 5 602 (7,576)
Reverse Recapitalization   45,145,400    
Reverse recapitalization   $ 5 (5)  
Balances, shares at Dec. 31, 2025 46,066,754 46,066,754    
Balances, shares (Before Reverse Recapitalization) at Dec. 31, 2025   921,354    
Balances at Dec. 31, 2025 $ (59,800) $ 5 12,563 (72,368)
Balances (Before Reverse Recapitalization) at Dec. 31, 2025 (59,800)   12,568 (72,368)
Net income (loss) 13,368     13,368
Stock-based compensation 2,734   2,734  
Vesting of restricted shares, shares   140,647    
Balances, shares at Mar. 31, 2026   46,207,401    
Balances at Mar. 31, 2026 $ (43,698) $ 5 15,297 (59,000)
Balances, shares at Dec. 31, 2025 46,066,754 46,066,754    
Balances, shares (Before Reverse Recapitalization) at Dec. 31, 2025   921,354    
Balances at Dec. 31, 2025 $ (59,800) $ 5 12,563 (72,368)
Balances (Before Reverse Recapitalization) at Dec. 31, 2025 (59,800)   12,568 (72,368)
Net income (loss) $ 30,926      
Balances, shares at Jun. 30, 2026 70,220,020 70,220,020    
Balances at Jun. 30, 2026 $ 19,238 $ 7 60,673 (41,442)
Balances, shares at Mar. 31, 2026   46,207,401    
Balances at Mar. 31, 2026 (43,698) $ 5 15,297 (59,000)
Net income (loss) 17,558     17,558
Stock-based compensation 7,900   7,900  
Vesting of restricted shares, shares   612,787    
Proceeds from Business Combination, net, shares   19,948,842    
Proceeds from Business Combination, net, value 22,944 $ 2 22,942  
Conversion of SAFEs into common stock and additional paid-in capital, shares   3,450,990    
Conversion of SAFEs into common stock and additional paid-in capital, value 17,807   17,807  
Legal settlement, value 6,624   6,624  
Warrant liabilities issued in connection with Business Combination, value (7,413)   (7,413)  
Deferred financing costs reclassified to additional paid-in capital, value $ (2,484)   (2,484)  
Balances, shares at Jun. 30, 2026 70,220,020 70,220,020    
Balances at Jun. 30, 2026 $ 19,238 $ 7 $ 60,673 $ (41,442)