v3.26.3
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Predecessor Class A Common Stock
Common Stock
Predecessor Class B Common Stock
Common Stock
Successor Class A Common Stock
Common Stock
Successor Class B Common Stock
Additional Paid-in Capital
Retained Earnings/(Accumulated Deficit)
Preferred stock, balance at beginning of period (in shares) at Dec. 31, 2024   1,158,802            
Balance at beginning of period at Dec. 31, 2024 $ 23,342 $ 72,488 $ 0 $ 0     $ 0 $ (49,146)
Balance at beginning of period (in shares) at Dec. 31, 2024     2,000,000 400,970        
Stockholders' Equity                
Net income (loss) (3,749)             (3,749)
Preferred stock, balance at end of period (in shares) at Mar. 31, 2025   1,158,802            
Balance at end of period at Mar. 31, 2025 19,593 $ 72,488 $ 0 $ 0     0 (52,895)
Balance at end of period (in shares) at Mar. 31, 2025     2,000,000 400,970        
Preferred stock, balance at beginning of period (in shares) at Dec. 31, 2024   1,158,802            
Balance at beginning of period at Dec. 31, 2024 23,342 $ 72,488 $ 0 $ 0     0 (49,146)
Balance at beginning of period (in shares) at Dec. 31, 2024     2,000,000 400,970        
Stockholders' Equity                
Net income (loss) (26,990)              
Preferred stock, balance at end of period (in shares) at Sep. 11, 2025   1,157,564            
Balance at end of period at Sep. 11, 2025 (4,148) $ 71,988 $ 0 $ 0     0 (76,136)
Balance at end of period (in shares) at Sep. 11, 2025     2,000,000 400,970        
Preferred stock, balance at beginning of period (in shares) at Mar. 31, 2025   1,158,802            
Balance at beginning of period at Mar. 31, 2025 19,593 $ 72,488 $ 0 $ 0     0 (52,895)
Balance at beginning of period (in shares) at Mar. 31, 2025     2,000,000 400,970        
Stockholders' Equity                
Net income (loss) (8,875)             (8,875)
Preferred stock, balance at end of period (in shares) at Jun. 30, 2025   1,158,802            
Balance at end of period at Jun. 30, 2025 10,718 $ 72,488 $ 0 $ 0     0 (61,770)
Balance at end of period (in shares) at Jun. 30, 2025     2,000,000 400,970        
Stockholders' Equity                
Redemption of preferred stock (in shares)   (1,238)            
Redemption of preferred stock (500) $ (500)            
Net income (loss) (14,366)             (14,366)
Preferred stock, balance at end of period (in shares) at Sep. 11, 2025   1,157,564            
Balance at end of period at Sep. 11, 2025 (4,148) $ 71,988 $ 0 $ 0     0 (76,136)
Balance at end of period (in shares) at Sep. 11, 2025     2,000,000 400,970        
Stockholders' Equity                
Conversion of Predecessor shares for Strive, Inc. Class B common stock (in shares)   (1,157,564) (2,000,000) (400,970)   12,445,578    
Conversion of Predecessor shares for Strive, Inc. Class B common stock 0 $ (71,988)       $ 249 71,739  
Business combination (in shares)         831,219      
Business combination 141,140       $ 17   141,123  
Share-based compensation expense 16,294           16,294  
Issuance of Class A common stock (in shares)         17,958,145      
Issuance of Class A common stock 548,379       $ 359   548,020  
Issuance of pre-funded warrants 283,170           283,170  
Exercise of warrants (in shares)         2,107,711      
Exercise of warrants 13,000       $ 42   12,958  
Conversions of Class B common stock to Class A common stock (in shares)         1,543,805 (1,543,805)    
Conversions of Class B common stock to Class A common stock 0       $ 31 $ (31)    
Share-based transaction costs 2,936           2,936  
Issuance costs (29,055)           (29,055)  
Net income (loss) (192,287)             (192,287)
Balance at end of period at Sep. 30, 2025 $ 779,429       $ 449 $ 218 1,047,185 (268,423)
Balance at end of period (in shares) at Sep. 30, 2025         22,440,880 10,901,773    
Balance at beginning of period (in shares) at Dec. 31, 2025 2,012,729              
Balance at beginning of period at Dec. 31, 2025 $ 148,802              
Mezzanine Equity                
Issuance of perpetual preferred stock (in shares) 2,360,465              
Issuance of perpetual preferred stock $ 219,905              
Issuance costs $ (9,533)              
Balance at end of period (in shares) at Mar. 31, 2026 4,373,194              
Balance at end of period at Mar. 31, 2026 $ 359,174              
Balance at beginning of period at Dec. 31, 2025 582,436       $ 699 $ 196 1,055,595 (474,054)
Balance at beginning of period (in shares) at Dec. 31, 2025         34,936,745 9,776,540    
Stockholders' Equity                
Adjustment of par value as a result of reverse stock split 0       $ (664) $ (186) 850  
Business combination (in shares)         16,090,786      
Business combination 311,183       $ 16   311,167  
Share-based compensation expense 6,529           6,529  
Issuance of Class A common stock (in shares)         8,182,150      
Issuance of Class A common stock 94,953       $ 8   94,945  
Issuance of common stock upon vesting of restricted stock and exercise of employee options, net of withholding taxes (in shares)           118,950    
Issuance of common stock upon vesting of restricted stock and exercise of employee options, net of withholding taxes (388)           (388)  
Exercise of warrants (in shares)         53,614      
Conversions of Class B common stock to Class A common stock (in shares)         23,333 (23,333)    
Issuance costs (570)           (570)  
Preferred stock dividends declared (13,454)             (13,454)
Net income (loss) (265,906)             (265,906)
Balance at end of period at Mar. 31, 2026 $ 714,783       $ 59 $ 10 1,468,128 (753,414)
Balance at end of period (in shares) at Mar. 31, 2026         59,286,628 9,872,157    
Balance at beginning of period (in shares) at Dec. 31, 2025 2,012,729              
Balance at beginning of period at Dec. 31, 2025 $ 148,802              
Balance at end of period (in shares) at Sep. 30, 2026 12,940,621              
Balance at end of period at Sep. 30, 2026 $ 1,210,820              
Balance at beginning of period at Dec. 31, 2025 582,436       $ 699 $ 196 1,055,595 (474,054)
Balance at beginning of period (in shares) at Dec. 31, 2025         34,936,745 9,776,540    
Stockholders' Equity                
Net income (loss) (14,477)              
Balance at end of period at Sep. 30, 2026 $ 1,435,830       $ 89 $ 9 1,998,157 (562,425)
Balance at end of period (in shares) at Sep. 30, 2026         88,814,706 9,198,036    
Balance at beginning of period (in shares) at Mar. 31, 2026 4,373,194              
Balance at beginning of period at Mar. 31, 2026 $ 359,174              
Mezzanine Equity                
Issuance of perpetual preferred stock (in shares) 3,456,308              
Issuance of perpetual preferred stock $ 345,663              
Issuance costs $ (2,464)              
Balance at end of period (in shares) at Jun. 30, 2026 7,829,502              
Balance at end of period at Jun. 30, 2026 $ 702,373              
Balance at beginning of period at Mar. 31, 2026 714,783       $ 59 $ 10 1,468,128 (753,414)
Balance at beginning of period (in shares) at Mar. 31, 2026         59,286,628 9,872,157    
Stockholders' Equity                
Share-based compensation expense 5,684           5,684  
Issuance of Class A common stock (in shares)         12,756,708      
Issuance of Class A common stock 211,295       $ 13   211,282  
Issuance of common stock upon vesting of restricted stock and exercise of employee options, net of withholding taxes (in shares)         4,938 24,396    
Issuance of common stock upon vesting of restricted stock and exercise of employee options, net of withholding taxes (137)           (137)  
Conversions of Class B common stock to Class A common stock (in shares)         116,535 (116,535)    
Issuance costs (1,658)           (1,658)  
Preferred stock dividends declared (26,209)             (26,209)
Net income (loss) (257,603)             (257,603)
Balance at end of period at Jun. 30, 2026 $ 646,155       $ 72 $ 10 1,683,299 (1,037,226)
Balance at end of period (in shares) at Jun. 30, 2026         72,164,809 9,780,018    
Mezzanine Equity                
Issuance of perpetual preferred stock (in shares) 5,111,119              
Issuance of perpetual preferred stock $ 511,161              
Issuance costs $ (2,714)              
Balance at end of period (in shares) at Sep. 30, 2026 12,940,621              
Balance at end of period at Sep. 30, 2026 $ 1,210,820              
Stockholders' Equity                
Share-based compensation expense 6,523           6,523  
Issuance of Class A common stock (in shares)         14,403,285      
Issuance of Class A common stock 271,619       $ 14   271,605  
Issuance of common stock upon vesting of restricted stock and exercise of employee options, net of withholding taxes (in shares)         194,996 23,329    
Issuance of common stock upon vesting of restricted stock and exercise of employee options, net of withholding taxes 488       $ 1   487  
Exercise of warrants (in shares)         1,446,305      
Exercise of warrants 39,050       $ 1   39,049  
Conversions of Class B common stock to Class A common stock (in shares)         605,311 (605,311)    
Conversions of Class B common stock to Class A common stock         $ 1 $ (1)    
Issuance costs (2,806)           (2,806)  
Preferred stock dividends declared (34,231)             (34,231)
Net income (loss) 509,032             509,032
Balance at end of period at Sep. 30, 2026 $ 1,435,830       $ 89 $ 9 $ 1,998,157 $ (562,425)
Balance at end of period (in shares) at Sep. 30, 2026         88,814,706 9,198,036