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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Measurements [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value | The table below presents the Company’s liabilities measured at fair value on a recurring basis aggregated by the level in the fair value hierarchy as of December 31, 2024 (in thousands):
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Public placement warrant liability |  | $ | — |  |  | $ | — |  |  | $ | 267 |  |  | $ | 267 |
Related party private placement warrant liability |  |  | — |  |  |  | — |  |  |  | 133 |  |  |  | 133 |
Long-term debt, non-current |  | $ | — |  |  | $ | 13,186 |  |  | $ | — |  |  | $ | 13,186 |
Total liabilities |  | $ | — |  |  | $ | 13,186 |  |  | $ | 400 |  |  | $ | 13,586 |
The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis aggregated by the level in the fair value hierarchy as of December 31, 2023 (in thousands):
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Convertible notes, current |  | $ | — |  |  | $ | — |  |  | $ | 15,604 |  |  | $ | 15,604 |
Related party convertible notes, current |  |  | — |  |  |  | — |  |  |  | 2,133 |  |  |  | 2,133 |
Shared-based termination liability |  |  | — |  |  |  | — |  |  |  | 6,349 |  |  |  | 6,349 |
Convertible preferred stock warrant liability |  |  | — |  |  |  | — |  |  |  | 203 |  |  |  | 203 |
Long-term debt, non-current |  |  | — |  |  | $ | 13,340 |  |  | $ | — |  |  | $ | 13,340 |
Total liabilities |  | $ | — |  |  | $ | 13,340 |  |  | $ | 24,289 |  |  | $ | 37,629 |
Schedule of Changes in Fair Value | The change in the fair value of the Level 3 liabilities during the years ended December 31, 2024 and 2023 was as follows (in thousands):
|  | Public placement warrant liability |
Balance at January 1, 2024 |  | $ | — |
Warrants assumed from the Merger |  |  | 25,174 |
Change in estimated fair value |  |  | (24,907 | )
Balance at December 31, 2024 |  | $ | 267 |
|  | Related party private placement warrant liability |
Balance at January 1, 2024 |  | $ | — |
Warrants assumed from the Merger |  |  | 13,134 |
Change in estimated fair value |  |  | (13,001 | )
Balance at December 31, 2024 |  | $ | 133 |
|  | Convertible notes, current |
Balance at January 1, 2023 |  | $ | — |
Note issuance during the period |  |  | 15,323 |
Change in estimated fair value |  |  | 281 |
Balance at January 1, 2024 |  | $ | 15,604 |
Note issuance during the period |  |  | 17,559 |
Loss on extinguishment |  |  | 22,183 |
Change in estimated fair value |  |  | 31,664 |
Conversion into common stock |  | $ | (87,010 | )
Balance at December 31, 2024 |  | $ | — |
|  | Related party convertible notes, current |
Balance at January 1, 2023 |  | $ | — |
Note issuance during the period |  |  | 2,018 |
Change in estimated fair value |  |  | 115 |
Balance at January 1, 2024 |  | $ | 2,133 |
Note issuance during the period |  |  | 5,084 |
Loss on extinguishment |  |  | 4,176 |
Change in estimated fair value |  |  | 3,752 |
Conversion into common stock |  |  | (15,145 | )
Balance at December 31, 2024 |  | $ | — |
|  | Share-based termination liability |
Balance at January 1, 2023 |  | $ | — |
Addition during the period |  |  | 6,053 |
Change in estimated fair value |  |  | 296 |
Balance at January 1, 2024 |  | $ | 6,349 |
Change in estimated fair value |  |  | 979 |
Liability settlement due to issuance of common stock |  | $ | (7,328 | )
Balance at December 31, 2024 |  | $ | — |
|  | Convertible preferred stock warrants liability |
Balance at January 1, 2023 |  | $ | 330 |
Change in estimated fair value |  |  | (127 | )
Balance at January 1, 2024 |  | $ | 203 |
Change in estimated fair value |  |  | (6 | )
Conversion into Private Warrants |  |  | (197 | )
Balance at December 31, 2024 |  |  | — |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -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 (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition 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 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 + Details
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