Cash and cash equivalents and restricted cash

6 Months Ended

12 Months Ended

Jun. 30, 2026

Dec. 31, 2025

Cash and cash equivalents and restricted cash

Cash and cash equivalents and restricted cash

4.	Cash and cash equivalents and restricted cash:

The following table is a reconciliation of cash and cash equivalents, and restricted cash reported in the consolidated balance sheets to the consolidated statements of cash flows.



	June 30, 2026		December 31, 2025
Cash and cash equivalents	$	31,975	$	49,125
Restricted cash		305		667
Total cash and cash equivalents, and restricted cash shown on the statements of cash flows	$	32,280	$	49,792

As of June 30, 2026, $305 in deposits served as collateral for the Company’s lease obligations and credit card facilities (2025 - $316). As of December 31, 2025, $351 of gross proceeds from the issuance of SAFE liabilities was held in a third-party trust account and recognized by the Company as restricted cash. The proceeds were released from the trust during the six months ended June 30, 2026.

4.Cash and cash equivalents and restricted cash:

The following table is a reconciliation of cash and cash equivalents, and restricted cash reported in the consolidated balance sheets to the consolidated statements of cash flows.



		As of December 31
		2025			2024
Cash and cash equivalents		$	49,125		$	6,392
Restricted cash			667			169
Total cash and cash equivalents, and restricted cash shown on the statements of cash flows		$	49,792		$	6,561

At December 31, 2025, $316 in deposits served as collateral for the Company’s lease obligations and credit card facilities (2024 - $169). At December 31, 2025, $351 of gross proceeds from the issuance of SAFE liabilities was held in a third-party trust account. The Company recognized these funds as restricted cash, with a corresponding liability recorded for the issued SAFE liabilities.