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Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Borrowings |
| Maturities | December 31, 2025 | Interest Rates |  | December 31, 2024 | Interest Rates
|  | (in thousands) |  |  | (in thousands) |
Related Party Notes | 2024 - 2025 | $ | — |  | — |  | $ | 14,000 |  | 8% - 15.99%
Series 1 promissory notes | 2025 - 2026 | 122 |  | 15% |  | 725 |  | 12% - 15%
Related party convertible notes | 2025 - 2026 | 4,331 |  | 3.94% - 15% |  | — |  |
Convertible debentures | 2026 | 5,572 |  | —% - 5% |  | — |  |
Term convertible notes | 2026 | 7,890 |  | 3.94% |  | — |  |
WTI Facility | 2028 | 19,441 |  | 13.50% |  | 20,000 |  | 13.50%
Total Notes Payable |  | 37,356 |  |  |  | 34,725 |  |
Less: unamortized debt discount |  | (3,962) |  |  |  | (6,446) |  |
Less: current portion of related party notes payable |  | — |  |  |  | (14,000) |  |
Less: current portion of term convertible note |  | (7,890) |  |  |  | — |  |
Less: current portion of related party term convertible note |  | (4,331) |  |  |  | — |  |
Less: current portion of notes payable |  | (12,846) |  |  |  | (625) |  |
Total Long-term Notes |  | $ | 8,327 |  |  |  | $ | 13,654 |  |
Schedule of Maturity of Borrowings | The Company’s notes payable, excluding debt issuance costs, mature as follows (in thousands):
| Amount
2026 | $ | 12,846 |
2027 | 24,510 |
Total | $ | 37,356 |
Schedule of Extensions of Promissory Notes | Extensions on Series 1 promissory notes were as follows (in thousands):
|  |  | December 31, 2025 |  | December 31, 2024
Principal amount of 1st extension promissory notes |  |  | $ | — |  |  | $ | 122 |
Principal amount of 2nd extension promissory notes |  |  | $ | 122 |  |  | $ | 603 |
Schedule of Interest Expense | Interest expense on Series 1 promissory notes was as follows (in thousands):
| Successor |  | Predecessor
| Year Ended December 31, 2025 |  | October 2, 2024 through December 31, 2024 |  | January 1, 2024 through October 1, 2024
Interest attributable to contractual interest | $ | 71 |  |  | $ | 29 |  |  | $ | 138 |
Interest expense on the related party notes was as follows (in thousands):
| Successor |  | Predecessor
| Year Ended December 31, 2025 |  | October 2, 2024 through December 31, 2024 |  | January 1, 2024 through October 1, 2024
Total interest expense | $ | 419 |  |  | $ | 611 |  |  | $ | 932 |
Interest expense on the WTI facility was as follows (in thousands):
| Successor |  | Predecessor
| Year Ended December 31, 2025 |  | October 2, 2024 through December 31, 2024 |  | January 1, 2024 through October 1, 2024
Interest attributable to contractual interest | $ | 2,738 |  |  | $ | 352 |  |  | $ | — |
Interest attributable to amortization of issuance costs and discounts | 2,111 |  |  | 248 |  |  | — |
Total interest expense | $ | 4,849 |  |  | $ | 600 |  |  | $ | — |
Interest expense on the Convertible Debentures was as follows (in thousands):
| Successor |  | Predecessor
| Year Ended December 31, 2025 |  | Period from October 2, 2024 through December 31, 2024 |  | Period from January 1 2024 through October 1, 2024
Interest attributable to contractual interest | $ | 231 |  |  | $ | — |  |  | $ | — |
Interest attributable to amortization of issuance costs | 4,279 |  |  | — |  |  | — |
Total interest expense | $ | 4,510 |  |  | $ | — |  |  | $ | — |
Interest expense on the 2025 Notes was as follows (in thousands):
| Successor |  |  | Predecessor
| Year Ended December 31, 2025 |  | Period from October 2, 2024 through December 31, 2024 |  |  | Period from January 1, 2024 through October 1, 2024 |
Interest attributable to contractual interest | $ | — |  |  | $ | — |  |  |  | $ | 120 |  |
Interest attributable to amortization of implied discounts | — |  |  | — |  |  |  | 231 |  |
Total interest expense | $ | — |  |  | $ | — |  |  |  | $ | 351 |  |

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