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Government Grant
 3 Months Ended
Mar. 31, 2025
Government Assistance [Abstract]  
Government Grant

Note 8.  Government Grant

In December 2022, the Company was awarded a grant (the “Grant”) from certain government agencies. The incentives received under the Grant, which is in the form of cash, can be used for facilities related expenses and the purchase of property and equipment. The Company is required to adhere to the following conditions attached to the incentives, which include purchase of a government grant guarantee insurance policy, required minimum investments into specified spending categories and the creation of a minimum amount of permanent full-time jobs in a certain geographical location over the next five years, with the option to extend to 10 years by remaining in a certain geographical location. If determined that we were ineligible to receive the Grant, we could be required to repay the Grant in its entirety with interest. The Company has yet to fulfill the required minimum investment and minimum employment conditions hence interest payable was recorded. The compliance with these conditions will continue to be monitored over the remaining grant period.

As of March 31, 2025 and December 31, 2024, the Company has received, but not yet earned, cash grants of 12.0 billion Korean won. This balance is equivalent to $8.1 million after translation as of March 31, 2025 and December 31, 2024, respectively, which is disclosed as a noncurrent liability in the unaudited interim condensed consolidated balance sheets.

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