Balance Sheet

v3.26.1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 92,133	$ 100,587
Accounts receivable, net of allowance for credit losses of $113 as of June 30, 2026 and December 31, 2025	191	300
Digital currencies	61	96
Prepaid expenses and other current assets	567	19,164
Total current assets	92,952	120,147
Non-current assets:
Property and equipment, net	8	11
Right-of-use asset, net	401	552
Other assets	158	158
Total non-current assets	567	721
Total assets	93,519	120,868
Current liabilities:
Accounts payable	1,761	1,070
Accrued expenses	289	19,905
Deferred revenue	1,075	1,386
Lease liability	358	342
PhunCoin subscription payable	1,202	1,202
Total current liabilities	4,685	23,905
Deferred revenue	229	369
Lease liability	95	277
Total noncurrent liabilities	324	646
Total liabilities	5,009	24,551
Commitments and contingencies (see Note 6)
Stockholders' equity
Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 20,459,152 shares issued and 20,449,022 shares outstanding as of June 30, 2026 and 20,198,290 shares issued and 20,188,160 shares outstanding as of December 31, 2025	2	2
Treasury stock	(502)	(502)
Additional paid-in capital	422,174	421,538
Accumulated deficit	(333,164)	(324,721)
Total stockholders' equity	88,510	96,317
Total liabilities and stockholders' equity	$ 93,519	$ 120,868

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Balance Sheet

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