v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (14,362) $ (709)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 435 120
Noncash lease expense (82) 0
Change in fair value of March 2026 convertible note and related instruments 434 0
Change in fair value on convertible note and warrants (29) 0
Stock compensation expense 417 169
Stock issued for services 878 0
Loss on sale of crypto assets 400 0
Gain on sale of short-term investments 0 (471)
Unrealized loss on crypto assets 1,025 0
Change in operating assets and liabilities net of effect of acquisitions:    
Accounts receivable, net 314 (90)
Prepayments and other current assets (88) (125)
Contractual right to offset 13 130
Accounts payable 3,503 387
Accrued liabilities 2,087 (2)
Unearned revenue (63) 75
Other liabilities (51) (130)
Net cash used in operating activities (5,169) (646)
Cash flows from investing activities    
Proceeds from sale of crypto assets 10,219 0
Outflows from the issuance of note receivable (500) 0
Proceeds from related party notes receivable repayments 42 0
Proceeds from sale of short-term investments 0 546
Proceeds from issuance of SAFE notes payables 0 1,120
Purchases of USDC (450) 0
Purchase of property and equipment 0 (5)
Capitalized software development costs (672) (266)
Proceeds from settlement of short-term loan with Ryvyl at merger 500 0
Cash acquired through merger with Ryvyl Inc. 4,244 0
Nonrefundable deposit on digital media investment (10,000) 0
Net cash provided by investing activities 3,383 1,395
Cash flows from financing activities    
Repayments of long-term debt (4) 0
Proceeds from March 2026 convertible note and warrants 2,000 0
Net cash provided by financing activities 1,996 0
Net increase in cash and cash equivalents, and restricted cash 210 749
Cash and cash equivalents, and restricted cash – beginning of period 534 8
Cash and cash equivalents, and restricted cash – end of period 744 757
Supplemental disclosure of cash flow information    
Cash paid for interest 2 0
Cash paid for taxes 31 0
Supplemental disclosure of non-cash investing and financing activities    
Purchase of equity investment in related party with USDC 300 0
Issuance of note receivable with USDC 1,300 0
Settlement of accounts payable with USDC 2,492 0
USDC proceeds from sale of crypto assets 719 0
USDC proceeds from stock option exercise 275 $ 0
Convertible debt conversions to common stock $ 1,401