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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Liabilities Measured on Recurring Basis

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands):

						Level						September 30, 2025						December 31, 2024
Liabilities:
Warrant liability – Public Warrants						1						$	375					$	375
Warrant liability – Private Placement Warrants						3						210						210
Total warrant liability												$	585					$	585

Schedule of Derivative Liabilities at Fair Value

The following tables summarize the changes in the fair value of the warrant liabilities (in thousands):

						Three Months Ended September 30, 2025																		Nine Months Ended September 30, 2025
						Public Warrants						Private Placement Warrants						Warrant Liabilities						Public Warrants						Private Placement Warrants						Warrant Liabilities
Fair value, beginning of period						$	125					$	70					$	195					$	375					$	210					$	585
Change in valuation inputs or other assumptions						250						140						390						—						—						—
Fair value, end of period						$	375					$	210					$	585					$	375					$	210					$	585

						Three Months Ended September 30, 2024																		Nine Months Ended September 30, 2024
						Public Warrants						Private Placement Warrants						Warrant Liabilities						Public Warrants						Private Placement Warrants						Warrant Liabilities
Fair value, beginning of period						$	625					$	350					$	975					$	375					$	210					$	585
Change in valuation inputs or other assumptions						(375)						(210)						(585)						(125)						(70)						(195)
Fair value, end of period						$	250					$	140					$	390					$	250					$	140					$	390

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

						September 30, 2025						December 31, 2024
Exercise price						$	11.50					$	11.50
Stock price						$	1.16					$	1.38
Volatility						135.0		%				85.0		%
Term (years)						0.71						1.46
Risk-free interest rate						3.77		%				4.20		%

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

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- Definition

Tabular disclosure of derivative liabilities at fair value.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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).

+ 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

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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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