Unaudited Condensed Consolidated Statements of Equity - USD ($)
$ in Thousands |
Preference Shares |
Ordinary Shares |
Treasury |
Additional paid-in capital |
Retained Earnings (Accumulated deficit) |
Accumulated other comprehensive (loss) income |
Noncontrolling interest |
Total |
| Balance at Dec. 31, 2024 |
$ 9,050
|
$ 1,793
|
$ (1,172)
|
$ 553,583
|
$ (98,209)
|
$ (1,565)
|
|
$ 463,480
|
| Balance (in Shares) at Dec. 31, 2024 |
1,000,000
|
179,125,205
|
|
|
|
|
|
|
| Balance (in Shares) at Dec. 31, 2024 |
|
|
(129,986)
|
|
|
|
|
|
| Share-based compensation expense |
|
|
|
219
|
|
|
|
219
|
| Issuance of common stock/At-the-market offering, net of offering costs |
|
$ 31
|
|
10,146
|
|
|
|
10,177
|
| Issuance of common stock/At-the-market offering, net of offering costs (in Shares) |
|
3,149,887
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to employees |
|
|
|
48
|
|
|
|
48
|
| Share-based compensation in connection with issuance of ordinary shares to employees (in Shares) |
|
21,250
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to consultants |
|
$ 5
|
|
1,638
|
|
|
|
1,643
|
| Share-based compensation in connection with issuance of ordinary shares to consultants (in Shares) |
|
450,000
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to director |
|
|
|
68
|
|
|
|
68
|
| Share-based compensation in connection with issuance of ordinary shares to director (in Shares) |
|
20,000
|
|
|
|
|
|
|
| Other comprehensive gain (loss) |
|
|
|
|
|
(505)
|
|
(505)
|
| Net income (loss) |
|
|
|
|
(57,711)
|
|
|
(57,711)
|
| Balance at Mar. 31, 2025 |
$ 9,050
|
$ 1,829
|
$ (1,172)
|
565,702
|
(155,920)
|
(2,070)
|
|
417,419
|
| Balance (in Shares) at Mar. 31, 2025 |
1,000,000
|
182,766,342
|
|
|
|
|
|
|
| Balance (in Shares) at Mar. 31, 2025 |
|
|
(129,986)
|
|
|
|
|
|
| Balance at Dec. 31, 2024 |
$ 9,050
|
$ 1,793
|
$ (1,172)
|
553,583
|
(98,209)
|
(1,565)
|
|
463,480
|
| Balance (in Shares) at Dec. 31, 2024 |
1,000,000
|
179,125,205
|
|
|
|
|
|
|
| Balance (in Shares) at Dec. 31, 2024 |
|
|
(129,986)
|
|
|
|
|
|
| Net income (loss) |
|
|
|
|
|
|
|
103,887
|
| Balance at Sep. 30, 2025 |
$ 9,050
|
$ 3,223
|
$ (1,172)
|
884,810
|
9,837
|
406
|
139,428
|
1,045,582
|
| Balance (in Shares) at Sep. 30, 2025 |
1,000,000
|
322,124,795
|
|
|
|
|
|
|
| Balance (in Shares) at Sep. 30, 2025 |
|
|
(129,986)
|
|
|
|
|
|
| Balance at Mar. 31, 2025 |
$ 9,050
|
$ 1,829
|
$ (1,172)
|
565,702
|
(155,920)
|
(2,070)
|
|
417,419
|
| Balance (in Shares) at Mar. 31, 2025 |
1,000,000
|
182,766,342
|
|
|
|
|
|
|
| Balance (in Shares) at Mar. 31, 2025 |
|
|
(129,986)
|
|
|
|
|
|
| Share-based compensation expense |
|
|
|
5,819
|
|
|
|
5,819
|
| Issuance of common stock/At-the-market offering, net of offering costs |
|
$ 255
|
|
48,056
|
|
|
|
48,311
|
| Issuance of common stock/At-the-market offering, net of offering costs (in Shares) |
|
25,504,699
|
|
|
|
|
|
|
| Issuance of ordinary shares/public offering, net of offering costs |
|
$ 750
|
|
140,875
|
|
|
|
141,625
|
| Issuance of ordinary shares/public offering, net of offering costs (in Shares) |
|
75,000,000
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to employees |
|
$ 5
|
|
1,161
|
|
|
|
1,166
|
| Share-based compensation in connection with issuance of ordinary shares to employees (in Shares) |
|
531,250
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to consultants |
|
$ 3
|
|
545
|
|
|
|
548
|
| Share-based compensation in connection with issuance of ordinary shares to consultants (in Shares) |
|
250,000
|
|
|
|
|
|
|
| Other comprehensive gain (loss) |
|
|
|
|
|
3,428
|
|
3,428
|
| Net income (loss) |
|
|
|
|
14,873
|
|
|
14,873
|
| Balance at Jun. 30, 2025 |
$ 9,050
|
$ 2,842
|
$ (1,172)
|
762,158
|
(141,047)
|
1,358
|
|
633,189
|
| Balance (in Shares) at Jun. 30, 2025 |
1,000,000
|
284,052,291
|
|
|
|
|
|
|
| Balance (in Shares) at Jun. 30, 2025 |
|
|
(129,986)
|
|
|
|
|
|
| Share-based compensation expense |
|
|
|
(5,537)
|
|
|
|
(5,537)
|
| Issuance of common stock/At-the-market offering, net of offering costs |
|
$ 220
|
|
62,597
|
|
|
|
62,817
|
| Issuance of common stock/At-the-market offering, net of offering costs (in Shares) |
|
22,000,000
|
|
|
|
|
|
|
| Issuance of ordinary shares/public offering, net of offering costs |
|
$ 113
|
|
20,893
|
|
|
|
21,006
|
| Issuance of ordinary shares/public offering, net of offering costs (in Shares) |
|
11,250,000
|
|
|
|
|
|
|
| Changes in ownership interests in a subsidiary - settlement of subsidiary RSUs |
|
|
|
|
|
|
5,629
|
5,629
|
| Changes in ownership interests in a subsidiary - IPO |
|
|
|
27,557
|
|
|
119,919
|
147,476
|
| Changes in ownership interests in a subsidiary - underwriters’ over-allotment option exercise |
|
|
|
4,133
|
|
|
18,198
|
22,331
|
| Share-based compensation in connection with issuance of ordinary shares to employees |
|
$ 46
|
|
12,434
|
|
|
|
12,480
|
| Share-based compensation in connection with issuance of ordinary shares to employees (in Shares) |
|
4,614,351
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to consultants |
|
$ 2
|
|
575
|
|
|
|
577
|
| Share-based compensation in connection with issuance of ordinary shares to consultants (in Shares) |
|
208,153
|
|
|
|
|
|
|
| Other comprehensive gain (loss) |
|
|
|
|
|
(952)
|
(159)
|
(1,111)
|
| Net income (loss) |
|
|
|
|
150,884
|
|
(4,159)
|
146,725
|
| Balance at Sep. 30, 2025 |
$ 9,050
|
$ 3,223
|
$ (1,172)
|
884,810
|
9,837
|
406
|
139,428
|
1,045,582
|
| Balance (in Shares) at Sep. 30, 2025 |
1,000,000
|
322,124,795
|
|
|
|
|
|
|
| Balance (in Shares) at Sep. 30, 2025 |
|
|
(129,986)
|
|
|
|
|
|
| Balance at Dec. 31, 2025 |
$ 9,050
|
$ 3,243
|
$ (1,172)
|
890,068
|
(178,526)
|
1,331
|
141,267
|
$ 865,261
|
| Balance (in Shares) at Dec. 31, 2025 |
1,000,000
|
324,192,228
|
|
|
|
|
|
|
| Balance (in Shares) at Dec. 31, 2025 |
|
|
(129,986)
|
|
|
|
|
129,986
|
| Share-based compensation expense |
|
|
|
4,139
|
|
|
|
$ 4,139
|
| Issuance of common stock/At-the-market offering, net of offering costs |
|
$ 24
|
|
4,084
|
|
|
|
4,108
|
| Issuance of common stock/At-the-market offering, net of offering costs (in Shares) |
|
2,372,035
|
|
|
|
|
|
|
| Declaration of dividends to preferred shareholders |
|
|
|
|
(800)
|
|
|
(800)
|
| Purchase of zero-strike call options in connection with issuance of convertible notes |
|
|
|
(120,000)
|
|
|
|
(120,000)
|
| Changes in ownership interests in a subsidiary - settlement of subsidiary RSUs |
|
|
|
(2,397)
|
|
|
2,397
|
|
| Share-based compensation in connection with issuance of ordinary shares to employees |
|
$ 49
|
|
7,934
|
|
|
|
7,983
|
| Share-based compensation in connection with issuance of ordinary shares to employees (in Shares) |
|
4,849,374
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to director |
|
|
|
50
|
|
|
|
50
|
| Share-based compensation in connection with issuance of ordinary shares to director (in Shares) |
|
21,097
|
|
|
|
|
|
|
| Other comprehensive gain (loss) |
|
|
|
|
|
(1,200)
|
(576)
|
(1,776)
|
| Net income (loss) |
|
|
|
|
(146,668)
|
|
(3,610)
|
(150,278)
|
| Balance at Mar. 31, 2026 |
$ 9,050
|
$ 3,316
|
$ (1,172)
|
783,878
|
(325,994)
|
131
|
139,478
|
608,687
|
| Balance (in Shares) at Mar. 31, 2026 |
1,000,000
|
331,434,734
|
|
|
|
|
|
|
| Balance (in Shares) at Mar. 31, 2026 |
|
|
(129,986)
|
|
|
|
|
|
| Balance at Dec. 31, 2025 |
$ 9,050
|
$ 3,243
|
$ (1,172)
|
890,068
|
(178,526)
|
1,331
|
141,267
|
$ 865,261
|
| Balance (in Shares) at Dec. 31, 2025 |
1,000,000
|
324,192,228
|
|
|
|
|
|
|
| Balance (in Shares) at Dec. 31, 2025 |
|
|
(129,986)
|
|
|
|
|
129,986
|
| Net income (loss) |
|
|
|
|
|
|
|
$ (261,343)
|
| Balance at Sep. 30, 2026 |
$ 11,050
|
$ 3,610
|
$ (1,172)
|
930,218
|
(404,707)
|
(419)
|
166,162
|
$ 704,742
|
| Balance (in Shares) at Sep. 30, 2026 |
2,000,000
|
360,844,922
|
|
|
|
|
|
|
| Balance (in Shares) at Sep. 30, 2026 |
|
|
(129,986)
|
|
|
|
|
129,986
|
| Balance at Mar. 31, 2026 |
$ 9,050
|
$ 3,316
|
$ (1,172)
|
783,878
|
(325,994)
|
131
|
139,478
|
$ 608,687
|
| Balance (in Shares) at Mar. 31, 2026 |
1,000,000
|
331,434,734
|
|
|
|
|
|
|
| Balance (in Shares) at Mar. 31, 2026 |
|
|
(129,986)
|
|
|
|
|
|
| Share-based compensation expense |
|
|
|
2,094
|
|
|
|
2,094
|
| Issuance of common stock/At-the-market offering, net of offering costs |
|
$ 230
|
|
34,245
|
|
|
|
34,475
|
| Issuance of common stock/At-the-market offering, net of offering costs (in Shares) |
|
22,997,224
|
|
|
|
|
|
|
| Changes in ownership interests in a subsidiary - settlement of subsidiary RSUs |
|
|
|
(2,654)
|
|
|
2,654
|
|
| Share-based compensation in connection with issuance of ordinary shares to employees |
|
$ 3
|
|
487
|
|
|
|
490
|
| Share-based compensation in connection with issuance of ordinary shares to employees (in Shares) |
|
271,250
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to consultants |
|
|
|
118
|
|
|
|
118
|
| Share-based compensation in connection with issuance of ordinary shares to consultants (in Shares) |
|
75,000
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of ordinary shares to director |
|
|
|
50
|
|
|
|
50
|
| Share-based compensation in connection with issuance of ordinary shares to director (in Shares) |
|
21,097
|
|
|
|
|
|
|
| Other comprehensive gain (loss) |
|
|
|
|
|
(1,407)
|
(709)
|
(2,116)
|
| Net income (loss) |
|
|
|
|
(107,212)
|
|
(4,454)
|
(111,666)
|
| Balance at Jun. 30, 2026 |
$ 9,050
|
$ 3,549
|
$ (1,172)
|
818,218
|
(433,206)
|
(1,276)
|
136,969
|
532,132
|
| Balance (in Shares) at Jun. 30, 2026 |
1,000,000
|
354,799,305
|
|
|
|
|
|
|
| Balance (in Shares) at Jun. 30, 2026 |
|
|
(129,986)
|
|
|
|
|
|
| Share-based compensation expense |
|
|
|
3,214
|
|
|
|
3,214
|
| Issuance of common stock/At-the-market offering, net of offering costs |
|
$ 69
|
|
11,506
|
|
|
|
11,575
|
| Issuance of common stock/At-the-market offering, net of offering costs (in Shares) |
|
6,894,367
|
|
|
|
|
|
|
| Changes in ownership interests in a subsidiary - settlement of subsidiary RSUs |
|
|
|
(57,567)
|
|
|
57,567
|
|
| Induced conversion on 2031 Notes |
|
|
|
154,590
|
|
|
|
154,590
|
| Share-based compensation in connection with issuance of ordinary shares to employees |
|
$ 2
|
|
247
|
|
|
|
249
|
| Share-based compensation in connection with issuance of ordinary shares to employees (in Shares) |
|
151,250
|
|
|
|
|
|
|
| Share-based compensation in connection with issuance of preference shares to employees |
$ 2,000
|
|
|
|
|
|
|
2,000
|
| Share-based compensation in connection with issuance of preference shares to employees (in Shares) |
1,000,000
|
|
|
|
|
|
|
|
| Cancellation of ordinary shares |
|
$ (10)
|
|
10
|
|
|
|
|
| Cancellation of ordinary shares (in Shares) |
|
(1,000,000)
|
|
|
|
|
|
|
| Other comprehensive gain (loss) |
|
|
|
|
|
857
|
(475)
|
382
|
| Net income (loss) |
|
|
|
|
28,499
|
|
(27,899)
|
600
|
| Balance at Sep. 30, 2026 |
$ 11,050
|
$ 3,610
|
$ (1,172)
|
$ 930,218
|
$ (404,707)
|
$ (419)
|
$ 166,162
|
$ 704,742
|
| Balance (in Shares) at Sep. 30, 2026 |
2,000,000
|
360,844,922
|
|
|
|
|
|
|
| Balance (in Shares) at Sep. 30, 2026 |
|
|
(129,986)
|
|
|
|
|
129,986
|