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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis by Level Within Fair Value Hierarchy

 

  

Fair Value Measurements as of December 31, 2025

(in thousands)

 
Description  Level 1   Level 2   Level 3   Total 
Derivative liabilities                    
Common stock warrants  $-   $   -  $827   $827 

 

   

Fair Value Measurements as of December 31, 2024

(in thousands)

 
Description   Level 1     Level 2     Level 3     Total  
Derivative liabilities                                
Common stock warrants   $    -     $    -     $ 208     $ 208  
Schedule of Fair Value Measurement Hierarchy of Derivative Liability

The Company did not have any transfers of assets and liabilities between Level 1 and Level 2 of the fair value measurement hierarchy during the years ended December 31, 2025 and 2024. The following table presents a reconciliation of the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2025 and 2024 (in thousands):

 

  

Common Stock

Warrants

 
Balance as of December 31, 2023  $304 
Issuance of derivatives   3,366 
Exercise of warrants   (1)
Change in fair value   (3,475)
Other   14 
Balance as of December 31, 2024  $208 
Issuance of derivatives   495 
Change in fair value   124 
Balance as of December 31, 2025  $827 
Schedule of Assumptions Used in Estimating Fair Value

The assumptions used in estimating the common stock warrant liability using the Monte Carlo simulation valuation model as of December 31, 2025 and 2024 were as follows:

 

   December 31, 2025   December 31, 2024 
Weighted-average risk-free interest rate   3.42-3.65%   4.12-4.35%
Weighted-average expected life (in years)   0.11-4.48    0.10-4.09 
Expected dividend yield   -%  -%
Weighted average expected volatility   115.0-175.0%   140.0%-210.0%