Other Non-Current assets

12 Months Ended

Dec. 31, 2023

Other Assets, Noncurrent [Abstract]

Other Non-Current Assets

Note 9. Other non-current assets

Other non-current assets consist of the following (in thousands):

	As of December 31,
	2023		2022
Non-marketable equity investments	$	5,000	$	—
Security deposits		1,116		854
Other non-current assets		16		8
Total other non-current assets	$	6,132	$	862

In November 2023, the Company made an investment in 700,440 Preferred Stock of a private company for a cash consideration of $5.0 million. The Company’s investment in the private company represents less than 1% of

total capitalization. The Company neither has significant influence over the private company nor does the investment amount to a controlling financial interest in the private company. The Company elected to apply the measurement alternative, and as such, records the investment at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes in orderly transactions. During the fiscal year ended December 31, 2023, the Company did not identify any impairment or observable price changes for this non-marketable equity investment.