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Earnout shares (Tables)

12 Months Ended

Dec. 31, 2024

Earnout Shares [Abstract]

Total Earnout Shares

The following table summarizes the number of Earnout Shares allocated to each unit of account as of December 31, 2024:


			Triggering Event I						Triggering Event II						Triggering Event III
Derivative liability			8,060,923						8,060,923						5,373,948
Stock compensation			146,469						146,469						97,647
Total Earnout Shares			8,207,392						8,207,392						5,471,595

Assumptions used in Valuation of Earnout Shares

The assumptions used in the valuation of these instruments, using the most reliable information available, include:


Inputs			December 31, 2024						December 31, 2023
Current stock price			$	4.23					$	8.43
Stock price targets			$12.50, $15.00, $17.50						$12.50, $15.00, $17.50
Expected life (in years)			3.25						4.25
Earnout period (in years)			3.25						4.25
Risk-free interest rate			4.30		%				4.00		%
Expected volatility			52		%				40		%
Expected dividend yield			—		%				—		%