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Long-term investments | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Long-term investments | 8. Long-term investments:
|  | September 30, 2025 |  | December 31, 2024
Cespira Canada LP |  | $ | 23,846 |  |  | $ | 25,494 |
Cespira Sweden AB |  | 20,275 |  |  | 11,225 |
Other equity-accounted investees |  | — |  |  | 147 |
|  | $ | 44,121 |  |  | $ | 36,866 |
During the three and nine months ended September 30, 2025, the Company recognized its share of Cespira's losses of $3,197 and $10,767 as a loss from investment accounted for by the equity method, respectively (three and nine months ended September 30, 2024 - $3,002 and $4,104, respectively). During the three and nine months ended September 30, 2025, the Company contributed additional capital of $10,997 and $19,868 into Cespira, respectively (three and nine months ended September 30, 2024 - $0 and $9,900, respectively). 8. Long-term investments (continued): Combined assets, liabilities, revenue and expenses of Cespira, are as follows:
|  | September 30, |  | December 31,
|  | 2025 |  | 2024
Current assets: |  |  |  |
Cash and cash equivalents |  | $ | 7,620 |  |  | $ | 10,305 |
Accounts receivable |  | 26,799 |  |  | 21,000 |
Inventories |  | 18,837 |  |  | 7,414 |
Prepaid expenses |  | 2,911 |  |  | 1,471 |
|  | 56,167 |  |  | 40,190 |
Property, plant and equipment |  | 41,787 |  |  | 40,901 |
Intangible assets |  | 6,944 |  |  | 7,087 |
Other long-term assets |  | $ | 771 |  |  | $ | 563 |
Total assets |  | $ | 105,669 |  |  | $ | 88,741 |
Current liabilities: |  |  |  |
Accounts payable |  | $ | 12,750 |  |  | $ | 16,527 |
Current portion of provisions |  | 1,697 |  |  | 2,128 |
Other current liabilities |  | 2,149 |  |  | 1,910 |
|  | 16,596 |  |  | 20,565 |
Long-term portion of provisions |  | 424 |  |  | 532 |
Other long-term liabilities |  | 1,231 |  |  | 569 |
Total liabilities |  | $ | 18,251 |  |  | $ | 21,666 |
Net assets |  | $ | 87,418 |  |  | $ | 67,075 |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  | $ | 19,328 |  |  | $ | 16,209 |  |  | $ | 48,147 |  |  | $ | 20,268 |
Cost of revenue |  | 20,364 |  |  | 16,374 |  |  | 50,594 |  |  | 20,275 |
Gross profit |  | (1,036) |  |  | (165) |  |  | (2,447) |  |  | (7) |
Operating expenses: |  |
Research and development |  | 1,135 |  |  | 1,830 |  |  | 6,025 |  |  | 2,951 |
General and administrative |  | 2,410 |  |  | 1,943 |  |  | 7,829 |  |  | 2,658 |
Sales and marketing |  | 357 |  |  | 335 |  |  | 975 |  |  | 404 |
Foreign exchange gain |  | 147 |  |  | 127 |  |  | 59 |  |  | 279 |
Depreciation and amortization |  | 833 |  |  | 944 |  |  | 2,423 |  |  | 1,209 |
|  | 4,882 |  |  | 5,179 |  |  | 17,311 |  |  | 7,501 |
Loss from operations |  | (5,918) |  |  | (5,344) |  |  | (19,758) |  |  | (7,508) |
Interest income (expense), net of bank charges |  | (71) |  |  | 117 |  |  | (39) |  |  | 117 |
Loss before income taxes |  | (5,989) |  |  | (5,227) |  |  | (19,797) |  |  | (7,391) |
Income tax (recovery) expense |  | 45 |  |  | 11 |  |  | (19) |  |  | 15 |
Net loss |  | $ | (6,034) |  |  | $ | (5,238) |  |  | $ | (19,778) |  |  | $ | (7,406) |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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