v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 8,259 $ 9,248 [1]
Restricted cash 349 131 [1]
Due from affiliates $ 7,539 $ 6,937 [1]
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party Related Party
Prepaid expenses $ 1,968 $ 1,606 [1]
Notes receivable $ 3,500 $ 13,069 [1]
Financing Receivable, after Allowance for Credit Loss, Related Party [Extensible Enumeration] Related Party Related Party
Other current assets, net $ 3,624 $ 2,651 [1]
Total current assets 25,239 33,642 [1]
Investments in Sponsored Programs 962 1,371 [1]
Property, software and equipment, net 16,908 28,783 [1]
Operating lease assets 2,546 2,915 [1]
Other assets, net 3,071 3,370 [1]
Total assets 48,726 70,081 [1]
Current liabilities:    
Accounts payable 685 528 [1]
Accrued expenses 6,068 7,769 [1]
Operating lease liabilities, current 1,069 1,049 [1]
Other current liabilities 595 1,451 [1]
Total current liabilities 8,417 10,797 [1]
Operating lease liabilities, non-current 2,827 3,426 [1]
Other liabilities 0 292 [1]
Total liabilities 11,244 14,515 [1]
Commitments and contingencies (Note 16) [1]
Series A convertible preferred stock, $0.0001 par value; 15,000,000 shares authorized; 11,865,046 shares issued and outstanding; with an aggregate liquidation preference of $25,951 25,018 25,018 [1]
STOCKHOLDERS’ EQUITY    
Additional paid-in capital 205,766 200,586 [1]
Accumulated deficit (193,336) (182,298) [1]
Total stockholders’ equity before non-controlling interests 12,433 18,291 [1]
Non-controlling interests in consolidated entity 31 12,257 [1]
Total stockholders’ equity 12,464 30,548 [1]
Total liabilities and stockholders’ equity 48,726 70,081 [1]
Common Stock Class A    
STOCKHOLDERS’ EQUITY    
Common stock, value, issued 0 0 [1]
Common Stock Class B    
STOCKHOLDERS’ EQUITY    
Common stock, value, issued 2 2 [1]
Common Stock Class F    
STOCKHOLDERS’ EQUITY    
Common stock, value, issued $ 1 $ 1 [1]
[1] Derived from audited financials