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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Loss Before Income Taxes

The components of loss before income taxes are as follows (in thousands):

		Year Ended December 31,
		2024				2023
		(Restated)				(Restated)
U.S.		$	(7,304	)		$	(83,469	)
Foreign		824					916
Loss before income taxes		$	(6,480	)		$	(82,553	)

Reconciliation of Effective Tax Rate and Statutory Federal Income Tax Rate

The reconciliation between the effective tax rate and the statutory federal income tax rate is as follows:

		Year Ended December 31,
		2024			2023
		(Restated)				(Restated)
U.S. statutory federal income tax rate			21.0	%			21.0	%
State income taxes, net of federal income tax benefit			53.1	%			7.0	%
Change in fair value of financial instruments			149.8	%			2.7	%
Tax credits			1.7	%			0.4	%
Valuation allowance			(234.0	)%			(30.2	)%
Non-deductible expenses			(6.0	)%			(0.8	)%
Other			3.3	%			(0.4	)%
Effective tax rate			(11.1	)%			(0.3	)%

Schedule of Deferred Tax Assets

Significant components of the Company’s deferred tax assets are as follows (in thousands):

		December 31,
		2024				2023
U.S. federal and state net operating loss carryforwards		$	49,591			$	36,092
Capitalized start-up and research and development expenses			13,362				10,868
Research and development tax credits			2,436				2,275
Interest expense			6,639				3,918
Lease liability			485				659
Depreciation			151				203
Bad debt reserve			1,831				3,461
Accrued costs			5,456				2,075
Other temporary differences			1,870				70
Total deferred tax assets			81,821				59,621
Valuation allowance			(77,750	)			(57,985	)
Net deferred tax assets			4,071				1,636
Right of use asset			(451	)			(623	)
Other deferred tax liability			(66	)			(1,013	)
Convertible debt			(3,358	)			—
Total deferred tax liabilities			(3,875	)			(1,636	)
Net deferred tax asset		$	196			$	—

Summary of Valuation Allowance

Changes to the Company’s valuation allowance are as follows (in thousands):

		Year Ended December 31,
		2024				2023
Beginning balances		$	57,985			$	33,484
Additions charged to net loss			19,765				24,501
Ending balances		$	77,750			$	57,985

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-Topic 740
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-Name Accounting Standards Codification
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Name Accounting Standards Codification
-Section S99
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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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