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Restatement of Previously Issued Consolidated Financial Statements (Tables)

3 Months Ended

Mar. 31, 2025

Accounting Changes and Error Corrections [Abstract]

Impact of Correction of Misstatements

The impact of the correction of the misstatements is summarized below (in thousands):

		As of March 31, 2025
		As Previously Reported				Restatement Impacts				As Restated
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
Convertible preferred stock, 5,000,000 shares authorized at March 31, 2025 and December 31, 2024:
Series X1 non-voting convertible preferred stock, $0.001 par value, 515,000 shares designated; 110,086 shares issued and outstanding at March 31, 2025 and December 31, 2024		$	—			$	53,543			$	53,543
Series X non-voting convertible preferred stock, $0.001 par value, 10,000 shares designated; 4,422 shares issued and outstanding at March 31, 2025 and December 31, 2024			—				2,151				2,151
Stockholders’ equity:
Convertible preferred stock, 5,000,000 shares authorized at March 31, 2025 and December 31, 2024:
Series X1 non-voting convertible preferred stock, $0.001 par value, 515,000 shares designated; 110,086 shares issued and outstanding at March 31, 2025 and December 31, 2024			—				—				—
Series X non-voting convertible preferred stock, $0.001 par value, 10,000 shares designated; 4,422 shares issued and outstanding at March 31, 2025 and December 31, 2024			—				—				—
Additional paid-in capital			476,619				(55,694	)			420,925
Total stockholders’ equity		$	114,580			$	(55,694	)		$	58,886

		As of March 31, 2024
		As Previously Reported				Restatement Impacts				As Restated
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)
Convertible preferred stock, 5,000,000 shares authorized at March 31, 2024 and December 31, 2023:
Series X1 non-voting convertible preferred stock, $0.001 par value, 515,000 shares designated; 110,086 shares issued and outstanding at March 31, 2024 and December 31, 2023		$	—			$	53,543			$	53,543
Series X non-voting convertible preferred stock, $0.001 par value, 10,000 shares designated; 4,422 shares issued and outstanding at March 31, 2024 and December 31, 2023			—				2,151				2,151
Stockholders’ equity (deficit):
Convertible preferred stock, 5,000,000 shares authorized at March 31, 2024 and December 31, 2023:
Series X1 non-voting convertible preferred stock, $0.001 par value, 515,000 shares designated; 110,086 shares issued and outstanding at March 31, 2024 and December 31, 2023			—				—				—
Series X non-voting convertible preferred stock, $0.001 par value, 10,000 shares designated; 4,422 shares issued and outstanding at March 31, 2024 and December 31, 2023			—				—				—
Additional paid-in capital			328,280				(55,694	)			272,586
Total stockholders’ equity (deficit)		$	(14,728	)		$	(55,694	)		$	(70,422	)

		For the Three Months Ended March 31, 2025								For the Three Months Ended March 31, 2024
		As Previously Reported				As Restated				As Previously Reported				As Restated
Basic and diluted earnings per share of common stock		$	(0.08	)		$	(0.08	)		$	(0.79	)		$	(0.65	)
Basic and diluted earnings per share of Series X and Series X1 non-voting convertible preferred stock		$	—			$	(4.32	)		$	—			$	(36.12	)
Weighted-average shares outstanding of Series X and Series X1 non-voting convertible preferred stock, basic and diluted			—				114,508				—				114,508

X

- References

No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

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