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Convertible Preferred Stock (Tables) | 9 Months Ended
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Sep. 30, 2025
Temporary Equity Disclosure [Abstract] |
Schedule of Temporary Equity | A summary of preferred stock is as follows:
|  | Series Seed Convertible Preferred Stock |  | Series A Convertible Preferred Stock |  | Series B Convertible Preferred Stock |  | Series C Convertible Preferred Stock |  | Series D Convertible Preferred Stock |  | Series E Convertible Preferred Stock |  | Total
|  | Shares |  | Amount |  | Shares |  | Amount |  | Shares |  | Amount |  | Shares |  | Amount |  | Shares |  | Amount |  | Shares |  | Amount |  | Shares |  | Amount
Balance at December 31, 2023 |  | 15,851,401 |  |  | $ | 1,337 |  |  | 22,399,370 |  |  | $ | 5,600 |  |  | 5,913,964 |  |  | $ | 2,200 |  |  | 50,116,284 |  |  | $ | 21,550 |  |  | 80,909,169 |  |  | $ | 43,788 |  |  | — |  |  | $ | — |  |  | 175,190,188 |  |  | $ | 74,475 |
Balance at September 30, 2024 |  | 15,851,401 |  |  | $ | 1,337 |  |  | 22,399,370 |  |  | $ | 5,600 |  |  | 5,913,964 |  |  | $ | 2,200 |  |  | 50,116,284 |  |  | $ | 21,550 |  |  | 80,909,169 |  |  | $ | 43,788 |  |  | — |  |  | $ | — |  |  | 175,190,188 |  |  | $ | 74,475 |
Balance at December 31, 2024 |  | 15,851,401 |  |  | $ | 1,337 |  |  | 22,399,370 |  |  | $ | 5,600 |  |  | 5,913,964 |  |  | $ | 2,200 |  |  | 50,116,284 |  |  | $ | 21,550 |  |  | 80,909,169 |  |  | $ | 43,788 |  |  | — |  |  | $ | — |  |  | 175,190,188 |  |  | $ | 74,475 |
Exercise of preferred stock warrants |  | 988,999 |  |  | 83 |  |  | — |  |  | — |  |  | 1,000,000 |  |  | 372 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,988,999 |  |  | 455 |
Issuance of Series E |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 58,774,312 |  |  | 40,130 |  |  | 58,774,312 |  |  | 40,130 |
Conversion of redeemable convertible preferred stock to common stock upon IPO |  | (16,840,400) |  |  | (1,420) |  |  | (22,399,370) |  |  | (5,600) |  |  | (6,913,964) |  |  | (2,572) |  |  | (50,116,284) |  |  | (21,550) |  |  | (80,909,169) |  |  | (43,788) |  |  | (58,774,312) |  |  | (40,130) |  |  | (235,953,499) |  |  | (115,060) |
Balance at September 30, 2025 |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |
As of December 31 2024, the total authorized, issued, and outstanding shares of Preferred Stock were as follows (in thousands, except par value, share and per share amounts):
Series |  | Par Value |  | Authorized |  | Issued and Outstanding |  | Issuance Price Per Share |  | Liquidation Value
Seed |  | $ | 0.001 |  |  | 16,840,400 |  | 15,851,401 |  | $ | 0.0843 |  |  | $ | 1,337 |
A |  | 0.001 |  |  | 22,399,370 |  | 22,399,370 |  | 0.2500 |  |  | 5,600 |
B |  | 0.001 |  |  | 6,913,964 |  | 5,913,964 |  | 0.3720 |  |  | 2,200 |
C |  | 0.001 |  |  | 50,116,284 |  | 50,116,284 |  | 0.4300 |  |  | 21,550 |
D |  | 0.001 |  |  | 83,403,626 |  | 80,909,169 |  | 0.5412 |  |  | 43,788 |
Total |  |  |  | 179,673,644 |  | 175,190,188 |  |  |  | $ | 74,475 |

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- Definition Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479857/480-10-S50-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479887/480-10-S45-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480244/480-10-S99-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (01) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480244/480-10-S99-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 480 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479857/480-10-S50-1 + Details
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