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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The following tables summarize the fair value of assets and liabilities that are recorded in the Company’s consolidated balance sheets as of December 31, 2023 and 2022 at fair value on a recurring basis.

			December 31, 2023
			Frequency of Measurement						Total						Level 1						Level 2						Level 3
Liabilities
Earn-out liabilities			Recurring						$	14,032					$	—					$	—					$	14,032
Warrant liabilities - Series A			Recurring						8,612						—						—						8,612
Warrant liabilities - Series B			Recurring						2,682						—						—						2,682
Warrant liabilities									11,294						—						—						11,294
Total liabilities measured at fair value									$	25,326					$	—					$	—					$	25,326

			December 31, 2022
			Frequency of Measurement						Total						Level 1						Level 2						Level 3
Liabilities
SAFE Agreement liabilities			Recurring						$	18,314					$	—					$	—					$	18,314
Total liabilities measured at fair value									$	18,314					$	—					$	—					$	18,314

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a roll-forward of the Company’s Level 3 liabilities (in thousands):

			Earn-out liabilities						Warrant liabilities - Series A						Warrant liabilities - Series B						Total Warrant liabilities						SAFE Agreement liabilities
Balance, December 31, 2022			$	—					$	—					$	—					$	—					$	18,314
Additions			99,659						17,459						9,270						26,729						—
Change in fair value			(66,252)						(8,847)						(6,588)						(15,435)						2,353
Converted to equity			(19,375)						—						—						—						(20,667)
Balance, December 31, 2023			$	14,032					8,612						2,682						11,294						$	—

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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X

- References

No definition available.

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X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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