Borrowings (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s debt obligations consist of the following:

		March 31, 2025				December 31, 2024
	Maturity Date	Principal Outstanding		Carrying Value*		Principal Outstanding		Carrying Value*
2021 Convertible Note Payable	June 2026	$	122,868	$	110,925	$	122,868	$	109,838
Delayed Draw Term Loan	June 2034	228,031		99,433		179,542		76,188
AFG Convertible Notes	June 2026	22,353		47,469		22,353		63,033
Notes payable - related party		373,252		257,827		324,763		249,059
Equipment financing facility	April 2026	1,473		1,472		2,386		2,385
DOE Loan Facility	June 2034	69,068		66,215		68,386		65,452
Total borrowings		443,793		325,514		395,535		316,896
Current portion		1,473		1,472		2,014		2,014
Total borrowings, non-current		$	442,320	$	324,042	$	393,521	$	314,882

*Carrying value includes unamortized deferred financing costs, unamortized discounts and fair value of embedded derivative liabilities, except for the Delayed Draw Term Loan, which is carried at fair value.

The Company has drawn a portion of the facility as follows:

Date of Draw	Gross Amount of Initial Draw		Coupon Interest Rate	Debt Issuance Costs
September 2021	$	7,000	14.3%	$	175
September 2022	4,216		16.2%	96
Total Equipment Financing loans	$	11,216		$	271

Schedule of Interest Expense

Interest expense recognized on the 2021 Convertible Note is as follows:

	Three Months Ended March 31,
	2025		2024
Contractual interest expense	$	1,843	$	1,737
Amortization of debt discount	1,915		1,531
Amortization of debt issuance costs	184		148
Total	$	3,942	$	3,416

Interest expense recognized on the DOE Loan Facility is as follows:

	For the Three Months Ended March 31, 2025
Contractual interest expense	$	808
Amortization of debt issuance costs	91
Total	$	899

Interest expense recognized on the AFG Convertible Notes is as follows:

	Three Months Ended March 31,
	2025		2024
Contractual interest expense	$	1,481	$	1,155
Amortization of debt discount	279		218
Amortization of issuance costs	79		62
Total	$	1,839	$	1,435

	Three Months Ended March 31,
	2025		2024
Contractual interest expense	$	—	$	3,684
Amortization of debt discount	—		115
Amortization of debt issuance costs	—		1,017
Total	$	—	$	4,816

Schedule of Balances Recognized upon Issuance of Convertible Notes

The balances for the 2021 Convertible Note are as follows:

	March 31, 2025		December 31, 2024
Principal	$	122,868	$	122,868
Unamortized debt discount	(11,131)		(13,045)
Unamortized debt issuance costs	(1,072)		(1,257)
Embedded conversion feature	260		1,272
Aggregate carrying value	$	110,925	$	109,838

The balances for the AFG Convertible Notes are as follows:

	March 31, 2025		December 31, 2024
Principal	$	22,353	$	22,353
Unamortized debt discount	(1,627)		(1,906)
Unamortized debt issuance costs	(459)		(538)
Embedded conversion feature	27,202		43,124
Aggregate carrying value	$	47,469	$	63,033

Schedule of Line of Credit Facilities

The carrying value for the DOE Loan Facility is as follows:

	March 31, 2025
Principal (life to date draw-downs)	$	68,279
Capitalized PIK Interest	915
Unamortized debt issuance costs	(2,979)
Aggregate carrying value	$	66,215