XML 17 R11.htm IDEA: XBRL DOCUMENT
v3.26.1

Supplemental Information | 3 Months Ended
--- | ---
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Information | 3. Supplemental Information Concentrations of Credit Risk Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash, trade accounts receivable and our digital asset holdings. Although we limit our exposure to credit loss by depositing our cash with established financial institutions that management believes have good credit ratings and represent minimal risk of loss of principal, our deposits, at times, may exceed Federal Deposit Insurance Corporation ("FDIC") insured limits. Cash and cash equivalents consist of demand deposits and highly liquid investments, such as money market funds, with original maturities of three months or less. As of March 31, 2026, the Company exceeded FDIC insurance limits in its insured bank accounts by approximately $2.7 million and held approximately $94.9 million in non-FDIC insured cash equivalent accounts. Included in cash equivalents are money market investments with original maturity dates when purchased of less than ninety days and are carried at fair value. Unrealized gains are included in interest income in the condensed consolidated statements of operations. As of December 31, 2025, we exceeded FDIC insurance limits by approximately $0.3 million in our insured bank accounts and held approximately $100.0 million non-FDIC insured cash equivalent accounts. The Company had no restricted cash as of March 31, 2026 and December 31, 2025. There is currently no clearing house for our digital assets, including our bitcoin holdings, nor is there a central or major depository for the custody of our digital assets. There is a risk that some or all of our digital asset holdings could be lost or stolen. There can be no assurance that the exchanges or custodians will maintain adequate insurance or that such coverage will cover losses with respect to our digital asset holdings. Further, transactions denominated in digital assets are irrevocable. Stolen or incorrectly transferred digital assets may be irretrievable. As a result, any incorrectly executed transactions could adversely affect our financial condition. Collateral is not required for accounts receivable, and we believe the carrying value approximates fair value. The following table sets forth our concentration of accounts receivable, net of specific allowances for credit losses.
|  | March 31, 2026 |  | December 31, 2025
Customer A |  | 27% |  | -%
Customer B |  | 25% |  | -%
Customer C |  | -% |  | 68%
Customer D |  | 9% |  | 12%
Additional Disclosures Prepaid expenses and other current assets consisted of the following:
(in thousands) |  | March 31, 2026 |  |  | December 31, 2025 |
Legal settlement |  |  | - |  |  |  | 18,500 |
Other prepaid expenses |  |  | 675 |  |  |  | 664 |
Prepaid expenses and other current assets |  |  | 675 |  |  |  | 19,164 |
Accrued expenses consisted of the following:
(in thousands) |  | March 31, 2026 |  |  | December 31, 2025 |
Legal settlement and related legal expenses |  | $ | - |  |  | $ | 19,775 |
Taxes |  |  | 48 |  |  |  | 120 |
Other |  |  | 100 |  |  |  | 10 |
Total accrued expenses |  | $ | 148 |  |  | $ | 19,905 |
Refer to Note 7, "Commitments and Contingencies" in our Annual Report on Form 10-K filed with the SEC on March 27, 2026 for further discussion on our litigation settlement. Loss per Common Share Basic loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted loss per common share is computed by giving effect to all potential shares of common stock, including those related to our stock equity plans, to the extent dilutive. For all periods presented, these shares were excluded from the calculation of diluted loss per share of common stock because their inclusion would have been anti-dilutive. As a result, diluted loss per common share is the same as basic loss per common share for all periods presented. The following table sets forth common stock equivalents that have been excluded from the computation of dilutive weighted average shares outstanding as their inclusion would have been anti-dilutive:
|  | March 31, |
|  | 2026 |  |  | 2025 |
Options |  |  | 1,883 |  |  |  | 2,190 |
Restricted stock units |  |  | 21,952 |  |  |  | 35,420 |
Total |  |  | 23,835 |  |  |  | 37,610 |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration