XML 191 R42.htm IDEA: XBRL DOCUMENT v3.25.0.1

Debt (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Debt Instrument [Line Items]

Summary of Debt

Debt consisted of the following:

		September 30,				December 31,
(in thousands)		2024				2023
Principal stockholder promissory notes		$	5,146			$	5,085
Other related party promissory notes			152				721
Total Loan Payable			5,298				5,806
June 2023 notes			—				1,379
November 2023 bridge notes			—			$	1,717
Total Senior secured notes		$	—			$	3,096
Derivatives		$	—			$	122
December 2023 convertible note			—				904
Other related party convertible notes			188				—
Other convertible notes			745				—
February 2024 convertible note			3,851				—
Total Convertible note payable		$	4,784			$	904
Total debt current		$	10,082			$	9,928
Term Loan			3,996			$	—
Total debt long term		$	3,996			$	—
Total debt		$	14,078			$	9,928

Term Loan [Member]

Debt Instrument [Line Items]

Summary of Carrying Value of Convertible Note

The carrying value of the Term Loan is as follows:

		September 30,				December 31,
(in thousands)		2024				2023
Principal and interest		$	1,997			$	—
Guarantee fees			2,348				—
Unamortized debt discount			(349	)			—
Aggregate carrying value		$	3,996			$	—

Summary of Interest Expense On Convertible Note

Interest expense recognized on the Term Loan is as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2024				2023				2024				2023
Contractual interest expense		$	166			$	—			$	450			$	—
Amortization of debt discount			129				—				589				—
Total		$	295			$	—			$	1,039			$	—

Convertible Notes [Member]

Debt Instrument [Line Items]

Summary of Change in the Balance of the Debt Instrument

The change in the balance of the Promissory notes as converted to convertible notes is as follows:

		August 2023				October 2023				November 2023
(in thousands)		Promissory Notes				Promissory Notes				Promissory Notes				Total
Carrying value at December 31, 2023		$	—			$	—			$	—			$	—
Promissory notes assumed in connection with acquisition of CLMBR, Inc.			725				471				691				1,887
Loss on extinguishment of debt			195				127				—				322
Interest Expense			—				—				54				54
Conversion to Series A Preferred Stock			(920	)			(598	)			—				(1,518	)
Carrying value at September 30, 2024		$	—			$	—			$	745			$	745

Senior Secured Notes [Member]

Debt Instrument [Line Items]

Summary of Carrying Value of Convertible Note

The carrying value of the Senior Secured Notes are as follows:

		September 30,				December 31,
(in thousands)		2024				2023
June 2023		$	—			$	1,379
November 2023			—				1,717
Aggregate carrying value		$	—			$	3,096

Summary of Change in the Balance of the Debt Instrument

The change in the balance of the Senior Secured Notes is as follows:

		November 2023				June 2023				Q2 2024
(in thousands)		Bridge Notes				Notes				Convertible Notes				Total
Carrying value at December 31, 2023		$	1,717			$	1,379			$	—			$	3,096
Issuance of promissory notes			—				—				1,680				1,680
Loss on extinguishment of debt			275				377				904				1,556
Change in estimated fair value of convertible notes			316				—				—				316
Interest Expense			—				21				89				110
Repayment of promissory notes			—				—				(318	)			(318	)
Conversion to Series A Preferred Stock			(2,308	)			(1,777	)			(2,355	)			(6,440	)
Carrying value at September 30, 2024		$	—			$	—			$	—			$	—

December 2023 Convertible Notes [Member]

Debt Instrument [Line Items]

Summary of Carrying Value of Convertible Note

The carrying value of the December 2023 Note is as follows:

		September 30,				December 31,
(in thousands)		2024				2023
Principal and interest		$	—			$	2,169
Unamortized debt discount			—				(801	)
Unamortized issuance costs			—				(464	)
Aggregate carrying value		$	—			$	904

The carrying value of the December 2023 Note is as follows:

		December 31,				December 31,
(in thousands)		2023				2022
Principal and interest		$	2,169			$	—
Unamortized debt discount			(801	)			—
Unamortized issuance costs			(464	)			—
Embedded derivative liability			122				—
Aggregate carrying value			1,026				—

Summary of Interest Expense On Convertible Note

Interest expense recognized on the December 2023 Note is as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2024				2023				2024				2023
Contractual interest expense		$	—			$	—			$	142			$	—
Amortization of debt discount			—				—				800				—
Amortization of debt issuance costs			92				—				532				—
Total		$	92			$	—			$	1,474			$	—

December 2023 Convertible Notes [Member] | Adjustment [Member]

Debt Instrument [Line Items]

Summary of Interest Expense On Convertible Note

Interest expense recognized on the December 2023 Note is as follows:

		December 31,				December 31,
(in thousands)		2023				2022
Contractual interest expense		$	9			$	—
Amortization of debt discount			56				—
Amortization of debt issuance costs			33				—
Total			98				—

February 2024 convertible note [Member]

Debt Instrument [Line Items]

Summary of Carrying Value of Convertible Note

The carrying value of the February 2024 Convertible Note is as follows:

		September 30,				December 31,
(in thousands)		2024				2023
Principal and interest		$	4,708			$	—
Unamortized debt discount			(569	)			—
Unamortized issuance costs			(288	)			—
Aggregate carrying value		$	3,851			$	—

Summary of Interest Expense On Convertible Note

Interest expense recognized on the February 2024 Convertible Note is as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2024				2023				2024				2023
Contractual interest expense		$	305			$	—			$	905			$	—
Amortization of debt discount			679				—				1,779				—
Amortization of debt issuance costs			344				—				902				—
Total		$	1,328			$	—			$	3,586			$	—

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