Redeemable Convertible Preferred Stock (Tables)

9 Months Ended

Sep. 30, 2025

Temporary Equity Disclosure [Abstract]

Schedule of Redeemable Convertible Preferred Stock

As of September 30, 2025 and December 31, 2024, redeemable convertible preferred stock consisted of the following (in thousands, except for share data):


	Shares Authorized	Shares Issued and Outstanding	Net Carrying Value		Aggregate Liquidation Preference
Series A-1	1,349,650	1,349,650	$	3,493	$	540
Series A-2	1,137,210	1,137,210	2,943		910
Series A-3	899,730	899,730	2,328		900
Series A-4	25,761	25,761	67		50
Series A-5	114,613	114,613	297		100
Series A-6	5,805,861	5,796,201	14,999		15,000
Series B-1	5,182,287	5,182,287	54,889		55,000
Series B-2	2,566,902	2,566,902	27,243		16,025
Series C	6,079,919	5,628,825	143,268		143,500
Series C-1	1,726,823	1,726,823	39,886		33,870
Series D	4,656,233	4,656,233	129,996		156,563
Total	29,544,989	29,084,235	$	419,409	$	422,458

- 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 + Details