Other non-current assets

6 Months Ended

Jun. 30, 2024

Other Assets, Noncurrent [Abstract]

Other non-current assets

Note 8. Other non-current assets

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

	June 30,		December 31,
	2024		2023
Non marketable equity investments	$	5,000	$	5,000
Security deposit		815	$	1,116
Other non-current assets		—		16
Total other non-current assets	$	5,815	$	6,132

In November 2023, the Company made an investment in 700,440 shares of preferred stock of a private company for a cash consideration of $5.0 million, which is classified as non-marketable equity investment. 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 period ended June 30, 2024, the Company did not identify any impairment or observable price changes for this non-marketable equity investment.