Investments in equity securities	9 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]
Investments in equity securities	Note 14 – Investments in equity securities Marketable Equity Securities On March 23, 2026, the Company purchased 1,057,317 shares of common stock of Smartkem, Inc., a publicly traded company, for an aggregate purchase price of approximately $0.2 million, representing less than 5% ownership interest. The investment is classified as a marketable equity security and is accounted for at fair value, with changes in fair value recognized in earnings. The investment does not provide the Company with controlling financial interest or significant influence over the investee. As of June 30, 2026, the fair value of the investment was approximately $0.3 million. The Company recognized an unrealized gain of less than $0.02 million for both the three and nine months ended June 30, 2026, related to this investment, which continues to be held. These amounts are included in change in fair value of equity securities in the condensed consolidated statements of operations. The fair value of the Smartkem, Inc. equity securities was determined based on observable market prices in active markets and is classified within Level 1 of the fair value hierarchy. Non-marketable Equity Securities Smartkem Investment On March 30, 2026, the Company made an investment in Smartkem, Inc. (“Smartkem”) through the purchase of 2,500 convertible preferred stock and 5,376,807 warrants for an aggregate purchase price of $2.0 million. On June 18, 2026, pursuant to an additional closing under the same Securities Purchase Agreement, as amended, the Company purchased an additional 1,838 shares of Series A Convertible Preferred Stock and warrants to purchase up to 3,955,442 shares of common stock of Smartkem for an aggregate purchase price of approximately $1.5 million. The Company does not have a controlling financial interest in, or the ability to exercise significant influence over, Smartkem. The Company accounts for its investment in Smartkem, including the preferred stock and warrants, as an equity security under ASC 321 and has elected to apply the measurement alternative, under which the investment is carried at cost, less any impairment, adjusted for changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. As of June 30, 2026, the aggregate carrying value of the Company’s investment in Smartkem was $3.5 million. No impairment, and no upward or downward adjustments resulting from observable price changes, were recognized during the three and nine months ended June 30, 2026. Astro Investment On April 16, 2026, the Company through its wholly owned subsidiary, Halo, invested $1.5 million in Astro Investment XVII, a Series of A Master Series, LLC (the “Fund”), a Delaware special purpose investment vehicle formed to provide investors exposure to securities of Space Exploration Technologies Corp. (“SpaceX”). Halo executed a subscription agreement identifying the security as an SPV interest holding exposure to preferred and common shares of SpaceX. The investment is subject to significant transfer restrictions and is not publicly traded. The Company accounts for its investment in the Fund as an equity security without a readily determinable fair value under ASC 321. The Company has elected the measurement alternative under which the investment is carried at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. As of June 30, 2026, the carrying amount of the investment was $1.5 million. No upward or downward adjustments, and no impairment, were recognized during the three and nine months ended June 30, 2026. SAFE Investment On June 1, 2026, the Company, through its wholly owned subsidiary, Halo, entered into a Simple Agreement for Future Equity (“SAFE”) pursuant to which Halo agreed to invest up to an aggregate of $0.05 million in exchange for the right to receive shares of the issuer’s capital stock upon the occurrence of certain triggering events. Halo funded an initial tranche of approximately $0.03 million as of June 30, 2026, with funding of the remaining approximately $0.03 million contingent upon the issuer’s future achievement of certain milestones. The Company accounts for its investment in the SAFE as an equity security without a readily determinable fair value under ASC 321. The Company has elected the measurement alternative, under which the investment is carried at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. As of June 30, 2026, the carrying amount of the investment was approximately $0.03 million. No upward or downward adjustments, and no impairment, were recognized during the three and nine months ended June 30, 2026.

Investments in equity securities

9 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Note 14 – Investments in equity securities

Marketable Equity Securities

On March 23, 2026, the Company purchased 1,057,317 shares of common stock of Smartkem, Inc., a publicly traded company, for an aggregate purchase price of approximately $0.2 million, representing less than 5% ownership interest. The investment is classified as a marketable equity security and is accounted for at fair value, with changes in fair value recognized in earnings. The investment does not provide the Company with controlling financial interest or significant influence over the investee.

As of June 30, 2026, the fair value of the investment was approximately $0.3 million. The Company recognized an unrealized gain of less than $0.02 million for both the three and nine months ended June 30, 2026, related to this investment, which continues to be held. These amounts are included in change in fair value of equity securities in the condensed consolidated statements of operations.

The fair value of the Smartkem, Inc. equity securities was determined based on observable market prices in active markets and is classified within Level 1 of the fair value hierarchy.

Non-marketable Equity Securities

Smartkem Investment

On March 30, 2026, the Company made an investment in Smartkem, Inc. (“Smartkem”) through the purchase of 2,500 convertible preferred stock and 5,376,807 warrants for an aggregate purchase price of $2.0 million.

On June 18, 2026, pursuant to an additional closing under the same Securities Purchase Agreement, as amended, the Company purchased an additional 1,838 shares of Series A Convertible Preferred Stock and warrants to purchase up to 3,955,442 shares of common stock of Smartkem for an aggregate purchase price of approximately $1.5 million.

The Company does not have a controlling financial interest in, or the ability to exercise significant influence over, Smartkem. The Company accounts for its investment in Smartkem, including the preferred stock and warrants, as an equity security under ASC 321 and has elected to apply the measurement alternative, under which the investment is carried at cost, less any impairment, adjusted for changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer.

As of June 30, 2026, the aggregate carrying value of the Company’s investment in Smartkem was $3.5 million. No impairment, and no upward or downward adjustments resulting from observable price changes, were recognized during the three and nine months ended June 30, 2026.

Astro Investment

On April 16, 2026, the Company through its wholly owned subsidiary, Halo, invested $1.5 million in Astro Investment XVII, a Series of A Master Series, LLC (the “Fund”), a Delaware special purpose investment vehicle formed to provide investors exposure to securities of Space Exploration Technologies Corp. (“SpaceX”). Halo executed a subscription agreement identifying the security as an SPV interest holding exposure to preferred and common shares of SpaceX. The investment is subject to significant transfer restrictions and is not publicly traded.

The Company accounts for its investment in the Fund as an equity security without a readily determinable fair value under ASC 321. The Company has elected the measurement alternative under which the investment is carried at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer.

As of June 30, 2026, the carrying amount of the investment was $1.5 million. No upward or downward adjustments, and no impairment, were recognized during the three and nine months ended June 30, 2026.

SAFE Investment

On June 1, 2026, the Company, through its wholly owned subsidiary, Halo, entered into a Simple Agreement for Future Equity (“SAFE”) pursuant to which Halo agreed to invest up to an aggregate of $0.05 million in exchange for the right to receive shares of the issuer’s capital stock upon the occurrence of certain triggering events. Halo funded an initial tranche of approximately $0.03 million as of June 30, 2026, with funding of the remaining approximately $0.03 million contingent upon the issuer’s future achievement of certain milestones.

The Company accounts for its investment in the SAFE as an equity security without a readily determinable fair value under ASC 321. The Company has elected the measurement alternative, under which the investment is carried at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer.

As of June 30, 2026, the carrying amount of the investment was approximately $0.03 million. No upward or downward adjustments, and no impairment, were recognized during the three and nine months ended June 30, 2026.