v3.26.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Dec. 03, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current Liabilities                
PIPE subscription derivative liability $ 137,942,000              
TOTAL LIABILITIES 138,062,603   $ 659          
Commitments and Contingencies (Note 4)            
Stockholders' Deficit                
Additional paid-in capital 10   10          
Accumulated deficit (138,062,603)   (659)          
Total Stockholder's Deficit (138,062,603) $ (37,928) (659) $ 0        
Forge Nano, Inc.                
Current Assets                
Cash and cash equivalents 28,591,000   9,061,000       $ 3,850,000  
Restricted cash and cash equivalents 1,026,000   313,000          
Accounts receivable - net of allowance for credit losses of $40 and $33 as of December 31, 2025 and December 31, 2024, respectively 1,622,000   1,963,000       1,619,000  
Contract assets - unbilled accounts receivable 6,822,000   6,586,000       3,660,000  
Inventory 4,515,000   3,665,000       2,573,000  
Prepaid expenses and other current assets 3,007,000   1,607,000       1,063,000  
Total current assets 45,583,000   23,195,000       12,765,000  
Property and equipment - net 23,962,000   14,652,000       16,592,000  
Goodwill 3,124,000   3,124,000       3,124,000  
Intangible assets - net 1,487,000   1,589,000       1,792,000  
Restricted cash and cash equivalents 56,000   55,000       8,388,000  
Right-of-use operating lease assets 65,270,000   65,087,000       2,636,000  
Deposits 2,993,000   2,922,000       5,189,000  
Total other assets 96,892,000   87,429,000       37,721,000  
TOTAL ASSETS 142,475,000   110,624,000       50,486,000  
Current Liabilities                
Accounts Payable, Current 3,638,000   4,332,000       3,952,000  
Current portion of operating lease liabilities 1,151,000   1,287,000       470,000  
Contract liabilities 3,526,000   3,126,000       3,012,000 $ 2,643,000
Provision for loss on contract 752,000   504,000          
Accrued and other current liabilities 5,835,000   3,027,000       3,008,000  
Convertible debt - net of discount             1,627,000  
Due to Sundew Technologies, LLC - current     1,811,000       1,413,000  
Current portion of debt - net of discount 10,488,000   10,366,000       17,071,000  
Total current liabilities 25,390,000   24,453,000       30,553,000  
Long-term operating lease liabilities, net of current portion 64,864,000   63,163,000       2,335,000  
Due to Sundew Technologies, LLC 2,809,000              
PIPE subscription derivative liability             393,000  
Warrants issued in conjunction with the 2023 issuances of Series C preferred stock and long-term debt 14,965,000   5,624,000       6,264,000  
TOTAL LIABILITIES 108,028,000   93,240,000       39,545,000  
Commitments and Contingencies (Note 4)          
Mezzanine Equity                
Ordinary shares subject to possible redemption            
Additional paid-in capital 185,265,000 151,777,000 136,538,000   $ 130,372,000 $ 126,097,000 88,347,000 82,150,000
Stockholders' Deficit                
Common stock, $0.0001 par value; 100 shares authorized, issued and outstanding     0       0  
Additional paid-in capital 10,820,000   9,934,000       8,508,000  
Accumulated deficit (161,638,000)   (129,088,000)       (85,914,000)  
Total Stockholder's Deficit (150,818,000) $ (130,420,000) (119,154,000)   $ (98,844,000) $ (91,150,000) (77,406,000) $ (51,676,000)
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT $ 142,475,000   $ 110,624,000       $ 50,486,000