| Metric | FY2025 | FY2024 |
|---|---|---|
| Cash and cash equivalents | $21.8M-59.0% | $53.1M |
| Marketable securities at fair value | $120.1M | $0 |
| Prepaid expenses and other current assets | $10.6M+333.8% | $2.5M |
| Total current assets | $152.5M+174.6% | $55.5M |
| Property, plant and equipment, net | $22K | $0 |
| Right-of-use asset and other long-term assets | $103K | $0 |
| Total non-current assets | $125K | $0 |
| Total assets | $152.6M+174.8% | $55.5M |
| Accounts payable | $2.1M-5.4% | $2.2M |
| Accrued expenses | $7.0M+182.6% | $2.5M |
| Other current liabilities and lease liabilities | $47K | $0 |
| Total current liabilities | $9.2M+94.0% | $4.7M |
| Lease liabilities - non-current | $4K | $0 |
| Total liabilities | $9.2M+94.1% | $4.7M |
| Subscription receivable | -$1.8M+51.9% | -$3.8M |
| Common stock, $0.00001 par value, 98,774,582 and 25,500,000 authorized as of December 31, 2024 and 2023, respectively and 7,418,740 shares issued and outstanding | $1K+0.0% | $1K |
| Additional paid-in capital | $2.3M+212.8% | $750K |
| Accumulated other comprehensive income | $60K | $0 |
| Accumulated deficit | -$123.4M-150.7% | -$49.2M |
| Total stockholders’ deficit | -$121.0M-149.6% | -$48.5M |
| Total liabilities, redeemable convertible preferred stock, and stockholders’ deficit | $152.6M+174.8% | $55.5M |
| Series A preferred stock, $0.00001 par value, 12,865,375 shares authorized, issued and outstanding with an aggregate liquidation preference of $37,238 net of issuance costs | ||
| Redeemable convertible preferred stock | $150.6M | $0 |
| Series B preferred stock, $0.00001 par value, 62,245,806 and 0 shares authorized; 55,246,971 and 0 issued and outstanding with an aggregate liquidation preference of $133,944 and $0 as of December 31, 2024 and 2023, respectively, net of issuance costs | ||
| Series C preferred stock, 0.00001 par value, 118,682,683 shares authorized, issued and outstanding with an aggregate liquidation preference of $154,815 as of December 31, 2025 net of issuance costs | ||
Source: SEC EDGAR XBRL. % change vs prior period shown where available.
Source: SEC EDGAR 10-K and 10-Q filings. Up to 10 years annual / 16 quarters shown.