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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value of a Recurring Basis

Assets and liabilities carried at fair value on a recurring basis as of December 31, 2024 and 2023 consisted of the following (in thousands):

			December 31, 2024
			Fair Value						Level 1						Level 2						Level 3
Financial Liabilities:
Private Placement Warrants			$	1					$	—					$	1					$	—
Public Warrants			120						120						—						—
Total Financial Liabilities			$	121					$	120					$	1					$	—

			December 31, 2023
			Fair Value						Level 1						Level 2						Level 3
Financial Assets
Cash and Cash Equivalents(1):
Money market funds			$	2,917					$	2,917					$	—					$	—
Total Financial Assets			$	2,917					$	2,917					$	—					$	—
Financial Liabilities:
Private Placement Warrants			$	4					$	—					4						$	—
Public Warrants			391						391						—						—
Contingent Earn-out Shares liability			39						—						—						39
Total Financial Liabilities			$	434					$	391					$	4					$	39

____________

(1) Included in total cash and cash equivalents on the consolidated balance sheets.

Schedule of Liabilities Measured at Fair Value of a Recurring Basis

Assets and liabilities carried at fair value on a recurring basis as of December 31, 2024 and 2023 consisted of the following (in thousands):

			December 31, 2024
			Fair Value						Level 1						Level 2						Level 3
Financial Liabilities:
Private Placement Warrants			$	1					$	—					$	1					$	—
Public Warrants			120						120						—						—
Total Financial Liabilities			$	121					$	120					$	1					$	—

			December 31, 2023
			Fair Value						Level 1						Level 2						Level 3
Financial Assets
Cash and Cash Equivalents(1):
Money market funds			$	2,917					$	2,917					$	—					$	—
Total Financial Assets			$	2,917					$	2,917					$	—					$	—
Financial Liabilities:
Private Placement Warrants			$	4					$	—					4						$	—
Public Warrants			391						391						—						—
Contingent Earn-out Shares liability			39						—						—						39
Total Financial Liabilities			$	434					$	391					$	4					$	39

____________

(1) Included in total cash and cash equivalents on the consolidated balance sheets.

Schedule of Changes on Fair Value of Financial Liabilities

The changes in the fair value of Level 3 financial liabilities during the year ended December 31, 2024 consisted of the following (in thousands):

									Contingent Earn-out Shares Liability
Fair value at December 31, 2023									$	39
Recognition of earn-out RSUs									—
Change in fair value during the period									(39)
Fair value at December 31, 2024									$	—

Schedule of Fair Value Measurement Inputs and Valuation Techniques

Significant unobservable inputs related to Level 3 Earn-out Shares liability consisted of the following:

			December 31, 2024						December 31, 2023
Stock price			$3.24						$7.98
Stock price volatility			97%						80%
Expected term			1.64 years						2.64 years
Risk-free interest rate			4.2%						4.1%

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/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

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

Reference 3: 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

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Tabular disclosure of assets, 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).

+ 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
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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

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