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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
Summary of Financial Assets and Liabilities Measured at Fair value on a Recurring Basis | The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 based on the three-tier fair value hierarchy (in thousands):
|  | Fair Value at March 31, 2026 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets included within cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  |  | 51,182 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 51,182 |
Total assets at fair value |  | $ |  | 51,182 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 51,182 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant liabilities |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 331 |  |  | $ |  | 331 |
Convertible notes |  |  |  | — |  |  |  |  | — |  |  |  |  | 65,094 |  |  |  |  | 65,094 |
Phantom stock options |  |  |  | — |  |  |  |  | — |  |  |  |  | 14 |  |  |  |  | 14 |
Total liabilities at fair value |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 65,439 |  |  | $ |  | 65,439 |
The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 based on the three-tier fair value hierarchy (in thousands):
|  | Fair Value at December 31, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets included within cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ |  | 19,665 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 19,665 |
Total assets at fair value |  | $ |  | 19,665 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 19,665 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant liabilities |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 247 |  |  | $ |  | 247 |
Phantom stock options |  |  |  | — |  |  |  |  | — |  |  |  |  | 8 |  |  |  |  | 8 |
Total liabilities at fair value |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 255 |  |  | $ |  | 255 |
Summary of Changes in Carrying Value of Convertible Notes | The following table summarizes the changes in carrying value of the convertible notes for the three months ended March 31, 2026:
|  | Three Months Ended March 31, |
|  | 2026 |
Balance at beginning of period |  | $ | — |
Issuance of convertible notes |  |  | 56,500 |
Remeasurement of notes to fair value |  |  | 8,594 |
Balance at end of period |  | $ | 65,094 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + 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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