Stockholders’ Equity |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Equity [Abstract] | |
| Stockholders’ Equity |
Note 13: Stockholders’ Equity
Common Stock
As of March 31, 2026 and December 31, 2025, the total number of authorized shares of common stock was .
As of March 31, 2026 and December 31, 2025, there were and shares of common stock outstanding, respectively.
During the three months ended March 31, 2026 and March 31, 2025, the Company issued and shares of common stock for services, respectively.
During the three months ended March 31, 2026 and March 31, 2025, the Company issued and shares of common stock in connection with vested restricted stock units (RSUs), net of shares withheld for tax obligations, respectively.
On November 18, 2025, the Company entered into a new agreement to settle an aggregate of $1.0 million of accounts payable under Section 3(a)(10) of the Securities Act with CCI, in exchange for issuing shares of common stock. Under the terms of the agreement, CCI makes payments to the Company’s vendors in cash and, in exchange, the Company issues shares of common stock to CCI. The settlement was valued at shares of common stock per $1 of accounts payable, pursuant to the terms of the agreement. The transaction was approved by a court after a public hearing on the fairness of the terms and conditions. As of March 31, 2026, the Company had completed the arrangement, settling a total of $1.0 million of accounts payable and issuing an aggregate of shares of common stock. During the three months ended March 31, 2026, the Company settled an aggregate of $0.6 million of accounts payable, issued shares of common stock to CCI, and recognized a loss of $ million on the settlement, representing the difference between the carrying value of liabilities extinguished and the fair value of shares issued, included in Other Income (Expense), net, on the Company’s condensed consolidated statements of operations.
Preferred Stock
The Company has shares of preferred stock authorized with a par value of $0.001 per share including shares of undesignated preferred stock, shares designated as 0% Series A Convertible Preferred Stock and shares designated as Series C Preferred Stock. The board of directors is authorized, subject to any limitations prescribed by law, without further vote or action by our stockholders, to issue from time-to-time shares of preferred stock in one or more series. Each series of preferred stock will have such number of shares, designations, preferences, voting powers, qualifications and special or relative rights or privileges as shall be determined by the board of directors, which may include, among others, dividend rights, voting rights, liquidation preferences, conversion rights and preemptive rights.
As of March 31, 2026 and December 31, 2025, there were shares of Series A Convertible Preferred Stock outstanding. As of March 31, 2026 and December 31, 2025, there were shares of Series B Preferred Stock outstanding. As of March 31, 2026 and December 31, 2025, there were shares of Series C Preferred Stock outstanding.
Treasury Stock
Upon vesting of restricted stock unit awards, employees may elect to have the Company withhold shares of common stock to cover their tax obligations, which are included as treasury stock outstanding and recorded within Treasury Stock on the condensed consolidated balance sheet. During the three months ended March 31, 2026, no employees elected this option and accordingly shares were withheld. During the three months ended March 31, 2025, the Company withheld shares of common stock with a cost of $252 to cover taxes owed by certain employees.
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