v3.26.1
SIF contribution liability (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
SIF contribution liability    
Schedule of activity of convertible notes

Convertible Notes Continuity

  ​ ​ ​

Total

Balance, January 1, 2025

$

21,412

Accrued interest

 

909

Gain on the change in fair value of Convertible Notes

 

508

Change in fair value attributable to changes in credit risk

 

(57)

Foreign currency translation adjustment

 

1,137

Balance, June 30, 2025

$

23,909

 
Schedule of Warrant activity

  ​ ​ ​

Number

  ​ ​ ​

Exercise Price

Warrants outstanding December 31, 2024

 

15,191,077

 

$

Issuance of SIF Warrants

 

5,918,058

Warrants outstanding December 31, 2025

 

21,109,135

 

$

Issuance of SIF Warrants

 

1,048,211

Preferred Share Warrants

 

30,918,673

Warrants outstanding, June 30, 2026

 

53,076,019

 

$

Class B Common

  ​ ​ ​

Number

  ​ ​ ​

Exercise Price

Warrants outstanding December 31, 2023

 

11,090,146

 

$

 —

Issuance of SIF Warrants

 

4,100,931

Warrants outstanding December 31, 2024

 

15,191,077

 

$

Issuance of SIF Warrants

 

5,918,058

Warrants outstanding, December 31, 2025

 

21,109,135

 

$

SIF contribution liability    
SIF contribution liability    
Schedule of activity of convertible notes

  ​ ​ ​

Warrant obligation

  ​ ​ ​

Funding liability

  ​ ​ ​

Total

Balance, January 1, 2025

$

1,553

$

14,128

$

15,681

SIF Warrant obligation

 

4,570

 

 

4,570

Issuance of SIF Warrants

 

(5,494)

 

5,494

 

Change in fair value

 

548

 

6,773

 

7,321

Foreign currency translation

 

180

 

617

 

797

Balance, December 31, 2025

 

1,357

 

27,012

 

28,369

SIF Warrant obligation

 

3,624

 

 

3,624

Issuance of SIF Warrants

 

(5,008)

 

5,008

 

Change in fair value

 

184

 

57,858

 

58,042

Foreign currency translation

 

(157)

 

(2,461)

 

(2,618)

Balance, June 30, 2026

$

$

87,417

$

87,417

Warrant 

Funding 

  ​ ​ ​

obligation

  ​ ​ ​

liability

  ​ ​ ​

Total

Balance, January 1, 2024

 

$

3,802

 

$

10,314

 

$

14,116

SIF Warrant obligation

1,548

1,548

Issuance of SIF Warrants

(3,789)

3,789

Change in fair value

182

1,040

1,222

Foreign currency translation

(190)

(1,015)

(1,205)

Balance, December 31, 2024

1,553

14,128

15,681

SIF Warrant obligation

4,570

4,570

Issuance of SIF Warrants

(5,494)

5,494

Change in fair value

548

6,773

7,321

Foreign currency translation

180

617

797

Balance, December 31, 2025

 

$

1,357

 

$

27,012

 

$

28,369

Schedule of assumptions used for calculation of convertible note

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

 

Amount funded (CAD)

$

74,275

$

69,275

 

Market debt recovery rate

 

14 – 28

%

14 – 28

%

Risk-adjusted discount rate

 

13 – 20

%

13 – 20

%

December 31, 

December 31, 

 

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Amount funded

 

$

50,544

 

$

41,113

Term (years)

0.25

0.3

Market debt recovery rate

14 – 28

%  

14 – 28

%

Risk-adjusted discount rate

13 – 20

%  

15 – 23

%