v3.26.1
Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Ordinary Shares
Class A
Ordinary Shares
Class B
Treasury Shares
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive loss
Total Company’s shareholders’ (deficit)/ equity
Non-controlling interests
Total
Balance at Dec. 31, 2022 $ 3 $ 5 $ 95,764 $ (99,580) $ (1,476) $ (5,284) $ 42,060 $ 36,776
Balance (in Shares) at Dec. 31, 2022 31,971,435 [1] 49,628,565              
Net (loss)/profit (26,912) (26,912) 9,333 (17,579)
Adoption of ASC326 (232) (232) (264) (496)
Reverse recapitalization [2] (2,506) (2,506) (2,506)
Reverse recapitalization (in Shares) [2] 1,873,010                
Conversion of Public Rights [2]
Conversion of Public Rights (in Shares) [1],[2] 610,000                
Equity financing through Private Placement [2] 21,736 21,736 21,736
Equity financing through Private Placement (in Shares) [1],[2] 2,173,657                
Issuance of ordinary shares, net of offering costs $ 1 18,467 18,468 18,468
Issuance of ordinary shares, net of offering costs (in Shares) [1] 3,255,988                
Offering costs in the Business Combination (910) (910) (910)
Issuance of GEM Warrants 1,818 1,818 1,818
Exercise of warrants 2,213 2,213 2,213
Exercise of warrants (in Shares) [1] 192,403                
Shares repurchase (2,000) (2,000) (2,000)
Shares repurchase (in Shares)     (200,000)            
Share-based compensation 9,578 9,578 2,029 11,607
Foreign currency translation 109 109 (1,246) (1,137)
Balance at Dec. 31, 2023 $ 4 $ 5 144,160 (126,724) (1,367) 16,078 51,912 67,990
Balance (in Shares) at Dec. 31, 2023 40,076,493 [1] 49,628,565              
Balance (in Shares)     (200,000)            
Net (loss)/profit         (68,663)   (68,663) 4,210 (64,453)
Shares transfer from Class B ordinary shares to Class A ordinary shares
Shares transfer from Class B ordinary shares to Class A ordinary shares (in Shares) 2,969,000 [1] (2,969,000)              
Repurchase of non-controlling interests (1,756) (1,756) (2,373) (4,129)
Gains on debt 4,504 4,504 4,504
Share-based compensation $ 1 61,793 61,794 2,052 63,846
Share-based compensation (in Shares) [1] 8,800,000                
Foreign currency translation (65) (65) (1,459) (1,524)
Balance at Dec. 31, 2024 $ 5 $ 5 208,701 (195,387) (1,432) 11,892 54,342 66,234
Balance (in Shares) at Dec. 31, 2024 51,845,493 [1] 46,659,565              
Balance (in Shares)     (200,000)            
Net (loss)/profit (3,942) (3,942) 1,543 (2,399)
Shares transfer from Class B ordinary shares to Class A ordinary shares [2]
Shares transfer from Class B ordinary shares to Class A ordinary shares (in Shares) [2] 620,000 [1] (620,000)              
Repurchase of non-controlling interests (1,298) (1,298) (1,852) (3,150)
Issuance of ordinary shares, net of offering costs $ 1 41,630 41,631 41,631
Issuance of ordinary shares, net of offering costs (in Shares) [1] 7,142,858                
Shares repurchase [3] (15,760) (15,760) (15,760)
Shares repurchase (in Shares) [3]     (3,438,557)            
Share-based compensation (259) (259) 1,567 1,308
Foreign currency translation   286 286 2,532 2,818
Balance at Dec. 31, 2025 $ 6 $ 5   $ 233,014 $ (199,329) $ (1,146) $ 32,550 $ 58,132 $ 90,682
Balance (in Shares) at Dec. 31, 2025 59,608,351 [1] 46,039,565              
Balance (in Shares)     (3,638,557)            
[1] Shares as of December 31, 2022 are related to the reverse recapitalization on May 17, 2023 for the business combination and presented on a retroactive basis to reflect the reverse recapitalization.
[2] The amounts of Class A Ordinary Shares were less than one thousand dollars.
[3] The amounts of Treasury shares were less than one thousand dollars.