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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of loss before income taxes

Loss before income before income taxes are as follows (in thousands):

			Year ended December 31, 2025						Year ended December 31, 2024
United Kingdom			$	(42,544)					$	(27,510)
United States			(24,053)						(32,833)
Other foreign			(36)						(884)
Loss before income taxes			$	(66,633)					$	(61,227)

Schedule of components of income tax benefit (expense)

The components of income tax benefit are as follows (in thousands):

			Year ended December 31, 2025						Year ended December 31, 2024
Current income tax benefit/(expense):
United States			$	—					$	(70)
Other Foreign			(9)						(22)
Deferred income tax benefit:
United States			184						136
Total income tax benefit			$	175					$	44

Schedule of Reconciliation to the effective tax rate

A reconciliation of the U.K. statutory income tax rate to the Company's effective tax rate as reflected in the consolidated financial statements is as follows:

			Year ended December 31, 2025												Year ended December 31, 2024
Statutory tax rate			$	16,658					25.00		%				$	15,307					25.00		%
Increase (decreases) resulting from:
Foreign tax effects-United States:
Changes in valuation allowance			(6,122)						(9.17)						(4,002)						(6.54)
Share-based compensation			(118)						(0.18)						—						—
Non-taxable or non-deductible items			(506)						(0.76)						(3,505)						(5.73)
Foreign tax effects-Switzerland:
Share-based compensation			(2)						—						(30)						(0.05)
Effect of change in tax laws or rates enacted in the current period			598						0.90						721						1.18
Tax credits			(81)						(0.12)						(3,501)						(5.72)
Changes in valuation allowance			(7,513)						(11.27)						(2,116)						(3.46)
Non-taxable or non-deductible items			(2,496)						(3.75)						(46)						(0.06)
Other adjustments			(243)						(0.37)						(2,784)						(4.55)
Effective tax rate			$	175					0.28		%				$	44					0.07		%

Schedule of significant components of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

			December 31, 2025						December 31, 2024
Deferred tax assets:
Net operating loss carryforwards			$	40,691					$	26,040
Research and development credit carryforwards			313						47
Share based compensation			4,190						4,753
Lease liability			2,965						3,156
Accruals			28						—
Intangible amortization			459						452
Capitalized Research and Development expenditure			4,765						6,185
Other			62						10
Gross deferred tax asset			53,473						40,643
Valuation allowance			(46,266)						(30,830)
Net deferred tax assets			7,207						9,813
Deferred tax liabilities:
Depreciation			(1,130)						(1,815)
Right-of-use lease asset			(1,060)						(1,149)
Undistributed earnings of subsidiaries			(1,339)						(1,248)
Intangible assets			(3,932)						(6,039)
Net deferred tax liabilities			(7,461)						(10,251)
Total deferred tax, net			$	(254)					$	(438)

Schedule of changes in the valuation allowance for deferred tax assets

Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2025 and 2024 related primarily to the increase in net operating loss and credit carryforwards, and were as follows:

			Year ended December 31, 2025						Year ended December 31, 2024
Valuations allowance at beginning of year			$	30,830					$	25,057
Changes in valuation allowance arising from in-year additions			—						—
Increases recorded to income tax provision			13,634						6,123
Foreign exchange translation			1,802						(350)
Valuation allowance at end of year			$	46,266					$	30,830

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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