v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Series A Preferred Stock
Series A
Common Stock
Additional Paid-in Capital
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated (Deficit)/Retained Earnings
Balances, beginning period (in shares) at Dec. 31, 2024   10,000 9,909,473        
Balances, beginning period at Dec. 31, 2024 $ 3,502 $ 0 $ 0 $ 12,872 $ 0 $ 0 $ (9,370)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock, net of offering costs (in shares)     89,775        
Issuance of common stock, net of offering costs 70     70      
Issuance of common stock under employee stock plans / Exercise of share-based awards (in shares)     12,306        
Share-based compensation 54     54      
Net (loss) income (778)           (778)
Balances, ending period (in shares) at Mar. 31, 2025   10,000 10,011,554        
Balances, ending period at Mar. 31, 2025 2,848 $ 0 $ 0 12,996 0 0 (10,148)
Balances, beginning period (in shares) at Dec. 31, 2024   10,000 9,909,473        
Balances, beginning period at Dec. 31, 2024 3,502 $ 0 $ 0 12,872 0 0 (9,370)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Translation adjustments 0            
Net (loss) income 70,680            
Balances, ending period (in shares) at Sep. 30, 2025   10,000 27,718,159        
Balances, ending period at Sep. 30, 2025 243,804 $ 0 $ 0 182,494 0 0 61,310
Balances, beginning period (in shares) at Mar. 31, 2025   10,000 10,011,554        
Balances, beginning period at Mar. 31, 2025 2,848 $ 0 $ 0 12,996 0 0 (10,148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock, net of offering costs (in shares)     3,503,535        
Issuance of common stock, net of offering costs 36,015     36,015      
Warrants exercised (in shares)     1,362,018        
Warrants exercised 2     2      
Issuance of common stock for asset acquisition (in shares)     604,884        
Issuance of common stock for asset acquisition 3,000     3,000      
Issuance of common stock under employee stock plans / Exercise of share-based awards (in shares)     580,846        
Issuance of common stock under employee stock plans / Exercise of share-based awards 94     94      
Share-based compensation 952     952      
Discount on convertible notes 11,704     11,704      
Conversion of convertible notes (in shares)     1,339,462        
Conversion of convertible notes 9,566     9,566      
Net (loss) income 15,432           15,432
Balances, ending period (in shares) at Jun. 30, 2025   10,000 17,402,299        
Balances, ending period at Jun. 30, 2025 79,613 $ 0 $ 0 74,329 0 0 5,284
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock, net of offering costs (in shares)     7,284,127        
Issuance of common stock, net of offering costs 175,356     175,356      
Prepaid forward stock purchase (75,636)     (75,636)      
Warrants exercised (in shares)     1,836,577        
Issuance of common stock under employee stock plans / Exercise of share-based awards (in shares)     60,219        
Share-based compensation 331     331      
Translation adjustments 0            
Conversion of convertible notes (in shares)     1,134,937        
Conversion of convertible notes 8,114     8,114      
Net (loss) income 56,026           56,026
Balances, ending period (in shares) at Sep. 30, 2025   10,000 27,718,159        
Balances, ending period at Sep. 30, 2025 243,804 $ 0 $ 0 182,494 0 0 61,310
Balances, beginning period (in shares) at Dec. 31, 2025   10,000 29,892,800        
Balances, beginning period at Dec. 31, 2025 99,261 $ 0 $ 0 202,581 (11,520) (27) (91,773)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock, net of offering costs (in shares)     1,162,147        
Issuance of common stock, net of offering costs 4,083     4,083      
Warrants exercised (in shares)     2,452        
Warrants exercised 55     55      
Issuance of common stock under employee stock plans / Exercise of share-based awards (in shares)     45,013        
Tax withholding related to common stock from employee stock plans (in shares)     (3,271)        
Tax withholding related to common stock from employee stock plans (16)     (16)      
Repurchase of common stock (in shares)     (1,601,747)        
Repurchase of common stock (10,502)       (10,502)    
Warrant dividend distribution 0     124     (124)
Share-based compensation 720     720      
Translation adjustments (17)         (17)  
Net (loss) income (83,390)           (83,390)
Balances, ending period (in shares) at Mar. 31, 2026   10,000 29,497,394        
Balances, ending period at Mar. 31, 2026 10,194 $ 0 $ 0 207,547 (22,022) (44) (175,287)
Balances, beginning period (in shares) at Dec. 31, 2025   10,000 29,892,800        
Balances, beginning period at Dec. 31, 2025 99,261 $ 0 $ 0 202,581 (11,520) (27) (91,773)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Translation adjustments 27            
Net (loss) income (44,086)            
Balances, ending period (in shares) at Sep. 30, 2026   10,000 38,382,831        
Balances, ending period at Sep. 30, 2026 95,889 $ 0 $ 0 254,191 (22,022) 0 (136,280)
Balances, beginning period (in shares) at Mar. 31, 2026   10,000 29,497,394        
Balances, beginning period at Mar. 31, 2026 10,194 $ 0 $ 0 207,547 (22,022) (44) (175,287)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock, net of offering costs (in shares)     968,029        
Issuance of common stock, net of offering costs 3,428     3,428      
Warrants exercised (in shares)     15        
Issuance of common stock under employee stock plans / Exercise of share-based awards (in shares)     152,031        
Tax withholding related to common stock from employee stock plans (in shares)     (36,355)        
Tax withholding related to common stock from employee stock plans (137)     (137)      
Share-based compensation 1,724     1,724      
Translation adjustments 44         44  
Net (loss) income (27,287)           (27,287)
Balances, ending period (in shares) at Jun. 30, 2026   10,000 30,581,114        
Balances, ending period at Jun. 30, 2026 (12,034) $ 0 $ 0 212,562 (22,022) 0 (202,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock, net of offering costs (in shares)     7,760,968        
Issuance of common stock, net of offering costs 40,797     40,797      
Issuance of common stock under employee stock plans / Exercise of share-based awards (in shares)     51,390        
Tax withholding related to common stock from employee stock plans (in shares)     (10,641)        
Tax withholding related to common stock from employee stock plans (40)     (40)      
Preferred stock cash dividends declared (297)           (297)
Share-based compensation 872     872      
Translation adjustments 0            
Net (loss) income 66,591           66,591
Balances, ending period (in shares) at Sep. 30, 2026   10,000 38,382,831        
Balances, ending period at Sep. 30, 2026 $ 95,889 $ 0 $ 0 $ 254,191 $ (22,022) $ 0 $ (136,280)