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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Property and Equipment, Net | The Company’s estimated useful lives of its property and equipment are as follows.
Quantum computer systems | 5 years
Lab equipment | 5 years
Computer equipment | 3 years
Furniture and fixtures | 5 years
Leasehold improvements | Shorter of expected lease term or estimated useful life
Property and equipment, net consisted of the following (in thousands):
| As of December 31,
| 2024 |  | 2023
Quantum computer systems | $ | 14,471 |  |  | $ | 13,712 |
Lab equipment | 6,862 |  |  | 6,839 |
Computer equipment | 4,701 |  |  | 3,703 |
Leasehold improvements | 1,889 |  |  | 1,075 |
Furniture and fixtures | 381 |  |  | 381 |
Construction-in-progress | 836 |  |  | 894 |
Total property and equipment | 29,140 |  |  | 26,604 |
Less: Accumulated depreciation | (25,007) |  |  | (24,053) |
Total property and equipment, net | $ | 4,133 |  |  | $ | 2,551 |
Schedule of Liabilities Measured at Fair Value on a Recurring Basis | The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis as of December 31, 2024 and indicates the place in the fair value hierarchy of the valuation inputs the Company utilized to determine each such fair value (in thousands):
Description | Level |  | As of December 31, 2024
Liabilities: |  |  |
Warrant Liabilities – Public Warrants | 1 |  | $ | 38,675 |
Warrant Liabilities – Private Placement Warrants | 2 |  | $ | 31,200 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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