Share-based Compensation (Tables)
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6 Months Ended |
12 Months Ended |
Jun. 30, 2026 |
Dec. 31, 2025 |
| Share-Based Payment Arrangement [Abstract] |
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| Summary of Stock Option Activity for Plan |
The following table summarizes stock option activity for the Plan: | | | | | | | | | | | | | | | | | | | | | | Weighted | | | | | Weighted | | Average | | | | | Average | | Remaining | | | Number of | | Exercise | | Contractual | | | Shares | | Price | | Term (years) | Outstanding at December 31, 2025 | | 9,072,974 | | $ | 0.91 | | — | Granted | | 1,119,136 | | | 4.85 | | — | Exercised | | (211,647) | | | — | | — | Forfeited | | (555,698) | | | — | | — | Outstanding at June 30, 2026 | | 9,424,765 | | $ | 1.45 | | 8.12 | Vested and Exercisable at June 30, 2026 | | 4,210,766 | | $ | 0.20 | | 7.37 |
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| | | | | | | | | | | | | | | | | | | | | | | Weighted | | | | | | | | Average | | | | | Weighted | | Remaining | | | | | Average | | Contractual | | | Number of | | Exercise | | Term | | | Shares | | Price | | (years) | Outstanding at January 1, 2024 | | 5,643,900 | | $ | 0.00 | | | Granted | | 752,520 | | $ | 0.00 | | | Outstanding at December 31, 2024 | | 6,396,420 | | $ | 0.00 | | | Granted | | 2,686,075 | | $ | 3.09 | | | Forfeited | | (9,521) | | $ | 0.67 | | | Outstanding at December 31, 2025 | | 9,072,974 | | $ | 0.91 | | 9.05 | Vested and Exercisable at December 31, 2025 | | 3,831,951 | | $ | 0.16 | | 7.87 |
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| Summary of Weighted Average Assumptions |
The fair value of each option granted during the three and six months ended June 30, 2026 and 2025, was estimated on the date of grant using the weighted average assumptions in the table below: | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | | 2026 | | 2025 | | 2026 | | 2025 | | | Expected volatility | | 93.5 | % | 49.7 | % | 51.8 | % | 49.3 | % | | Risk-free interest rate | | 4.3 | % | 4.2 | % | 3.9 | % | 4.1 | % | | Expected term (in years) | | 6.0 | | 6.1 | | 6.0 | | 6.1 | | | Expected dividend yield | | 0.0 | % | 0.0 | % | 0.0 | % | 0.0 | % | |
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The fair value of each option granted during the year ended December 31, 2025, was estimated on the date of grant using the weighted average assumptions in the table below: | | | | | | | | Expected volatility | | 50.3 | % | Risk-free interest rate | | 3.7 | % | Expected term (in years) | | 5.9 | | Expected dividend yield | | 0.0 | % |
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| Summary of Restricted Stock |
| | | | | | | | | | | | | | | | Weighted Average | | | | | Grant | | | Number of Shares | | Date Fair Value | Unvested at December 31, 2025 | | — | | $ | 0.00 | Granted | | 2,683,680 | | | 5.00 | Vested | | (83,865) | | | 5.00 | Unvested at June 30, 2026 | | 2,599,815 | | $ | 5.00 |
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| | | | | | | | | | | | | | | | | | Weighted Average
Grant Date Fair
Value | | Unvested at January 1, 2024 | | 1,410,975 | | $ | 0.00 | | Vested | | (558,511) | | $ | 0.00 | | Unvested at December 31, 2024 | | 852,464 | | $ | 0.00 | | Vested | | (352,744) | | $ | 0.00 | | Unvested at December 31, 2025 | | 499,720 | | $ | 0.00 | |
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