v3.26.3
DEBT OBLIGATIONS - Narrative (Details)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Aug. 18, 2025
USD ($)
Dec. 31, 2025
USD ($)
instrument
$ / shares
shares
Sep. 30, 2026
USD ($)
shares
Sep. 30, 2025
USD ($)
shares
Sep. 30, 2026
USD ($)
shares
Sep. 30, 2025
USD ($)
shares
Dec. 31, 2025
USD ($)
instrument
$ / shares
shares
Jun. 30, 2025
USD ($)
Dec. 31, 2024
shares
Aug. 31, 2024
USD ($)
$ / shares
shares
Aug. 21, 2024
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2020
USD ($)
$ / shares
Debt Instrument [Line Items]                          
Repayments of long-term debt         $ 0 $ 140,000,000              
Loss on debt extinguishment     $ 0 $ 107,656,000 $ 0 $ 107,656,000              
Class of warrant or right, exercised (in shares) | shares         10,959,401 2,632,955              
Interest expense, debt     33,000 3,361,000 $ 99,000 $ 12,662,000              
Amortization of debt discount and issue cost     $ 3,000 $ 772,000 $ 8,000 $ 2,973,000              
Warrants outstanding (in shares) | shares   14,215,311 3,245,910 18,581,679 3,245,910 18,581,679 14,215,311   14,615,703        
2029 Senior Secured Term Loan Warrants | Secondary Offering                          
Debt Instrument [Line Items]                          
Class of warrant or right, exercised (in shares) | shares   3,690,079                      
Sale of stock, number of shares issued in transaction (in shares) | shares   3,065,826                      
Secured Debt | 2029 Senior Secured Term Loan                          
Debt Instrument [Line Items]                          
Debt instrument, face amount               $ 40,000,000   $ 100,000,000      
Debt instrument, interest rate, stated percentage                   12.90%      
Repayments of long-term debt $ 178,400,000                        
Loss on debt extinguishment             $ 107,700,000            
Interest expense, debt       $ 3,100,000   $ 11,900,000              
Amortization of debt discount and issue cost       700,000   2,800,000              
Secured Debt | 2029 Senior Secured Term Loan | 2029 Senior Secured Term Loan Warrants                          
Debt Instrument [Line Items]                          
Number of securities called by warrants (in shares) | shares                     3,795,564    
Secured Debt | 2029 Senior Secured Term Loan | 2029 Senior Secured Term Loan Warrants - Group 1                          
Debt Instrument [Line Items]                          
Number of securities called by warrants (in shares) | shares                   2,277,338      
Exercise price of warrants (in dollars per share) | $ / shares                   $ 7.15      
Secured Debt | 2029 Senior Secured Term Loan | 2029 Senior Secured Term Loan Warrants - Group 2                          
Debt Instrument [Line Items]                          
Number of securities called by warrants (in shares) | shares                   1,518,226      
Exercise price of warrants (in dollars per share) | $ / shares                   $ 8.55      
Convertible Debt | Convertible Loan                          
Debt Instrument [Line Items]                          
Debt instrument, face amount                         $ 5,000,000.0
Debt instrument, interest rate, stated percentage                         9.50%
Interest expense, debt       $ 200,000   600,000              
Long-term debt, term                         5 years
Debt instrument, convertible, conversion price (in dollars per share) | $ / shares   $ 16.00         $ 16.00           $ 16.00
Debt conversion, converted instrument, amount   $ 5,000,000.0                      
Debt conversion, converted instrument, shares issued (in shares) | shares   312,500                      
Interest payable   $ 100,000         $ 100,000            
Debt conversion, interest, converted instrument, shares issued (in shares) | shares   5,287                      
Notes payable                          
Debt Instrument [Line Items]                          
Debt instrument, interest rate, stated percentage     8.00%   8.00%                
Notes payable | Promissory Note                          
Debt Instrument [Line Items]                          
Debt instrument, face amount                       $ 1,500,000  
Debt instrument, interest rate, stated percentage                       8.00%  
Long-term debt, term                       3 years  
Share price (in dollars per share) | $ / shares                       $ 20.50  
Notes payable | Promissory Note | Promissory Note Warrants                          
Debt Instrument [Line Items]                          
Exercise price of warrants (in dollars per share) | $ / shares                       $ 20.50  
Warrants outstanding (in shares) | shares                       7,408  
Line of Credit | Revolving Credit Facility                          
Debt Instrument [Line Items]                          
Interest expense, debt         $ 0 0              
Long-term line of credit   $ 0 $ 0   0   $ 0            
Line of Credit | Unsecured Revolving Lines Of Credit - MIAX Futures | Revolving Credit Facility                          
Debt Instrument [Line Items]                          
Number of debt instruments held | instrument   2         2            
Line of Credit | Unsecured Revolving Lines Of Credit - MIAX Futures, Instrument One | Revolving Credit Facility                          
Debt Instrument [Line Items]                          
Line of credit facility, maximum borrowing capacity   $ 6,000,000.0         $ 6,000,000.0            
Line of Credit | Unsecured Revolving Lines Of Credit - MIAX Futures, Instrument Two | Revolving Credit Facility                          
Debt Instrument [Line Items]                          
Line of credit facility, maximum borrowing capacity   $ 4,000,000.0         $ 4,000,000.0            
Line of Credit | Secured Line Of Credit - MIAX Futures | Revolving Credit Facility                          
Debt Instrument [Line Items]                          
Line of credit facility, maximum borrowing capacity     $ 40,000,000   $ 40,000,000                
Debt instrument, interest rate, effective percentage   6.75% 5.14%   5.14%   6.75%            
Commitment fee percentage         0.25%                
Line of Credit | Unsecured Revolving Line Of Credit - Dorman Trading | Revolving Credit Facility                          
Debt Instrument [Line Items]                          
Interest expense, debt         $ 0 $ 0              
Line of credit facility, maximum borrowing capacity     $ 10,000,000.0   10,000,000.0                
Long-term line of credit   $ 0 $ 0   $ 0   $ 0            
Debt instrument, basis spread on variable rate         3.00%