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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of the Company’s Stock Option Activity
A summary of the Company’s stock option activity under the 2021Plan is as follows:
 (dollars in thousands except weighted average exercise price)
Number of
Options		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual Life (Years)		Aggregate
Intrinsic
Value
Outstanding as of December 31, 2022
693 $26,496.00 8.97$— 
Granted313 $10,368.00 
Exercised(6)$8,544.00 
Expired/forfeited(202)$28,020.00 
Outstanding as of December 31, 2023
798 $19,885.20 8.74$5,351 
Expired/forfeited(390)$20,794.36 
Outstanding as of December 31, 2024
408 $21,156.47 7.59$8,317 
Exercisable as of December 31, 2024
286 $21,480.84 7.58$5,940 
A summary of the Company’s stock option activity under the EI Plan is as follows:
 (dollars in thousands except weighted average exercise price)
Number of
Options		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life (Years)		Aggregate
Intrinsic
Value
Outstanding as of December 31, 2022
2,440 $27,168.00 6.92$22 
Expired/forfeited(409)$31,130.40 
Outstanding as of December 31, 2023
2,031 $26,408.80 5.92$31,743 
Expired/forfeited(82)$28,973.01 
Outstanding as of December 31, 2024
1,949 $26,237.95 4.84$50,054 
Exercisable as of December 31, 2024
1,931 $26,077.74 4.83$49,283 
A summary of the Company’s stock option activity under the STI Plan is as follows:
(dollars in thousands except weighted average exercise price)Number of
Options		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life (Years)		Aggregate
Intrinsic
Value
Outstanding as of December 31, 2022
586 $60,864.00 6.94$— 
Expired/forfeited(22)$78,722.80 
Outstanding as of December 31, 2023
564 $60,169.20 6.64$16,318 
Expired/forfeited(77)$95,528.84 
Outstanding as of December 31, 2024
487 $52,893.32 5.50$25,481 
Exercisable as of December 31, 2024
374 $41,906.97 5.23$15,448 
Schedule of Weighted-Average Assumptions used in the Black-Scholes Option Pricing Model The following table provides the assumptions used in the Black-Scholes option pricing model for equity-classified SPA Portfolio Note warrants granted during the year ended December 31, 2024:
2024
Risk-free interest rate:
3.83% - 4.35%
Expected term (in years):7
Expected volatility:
110% - 115%
Dividend yield:
0%
The weighted-average assumptions used in the Black-Scholes option pricing model for awards granted during the year ended December 31, 2023 are as follows:
2023
Risk-free interest rate:3.53 %
Expected term (in years):8.71
Expected volatility:89.62 %
Dividend yield:0 %
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
A summary of the Company’s RSU activity under the 2021 Plan is as follows:
 (dollars in thousands except weighted average fair value)
Shares
Weighted Average Fair Value
Outstanding as of December 31, 2022(1)
1,862$10,464.00 
Granted2,551 $2,702.00 
Released(650)$10,329.60 
Forfeited(878)$9,817.60 
Outstanding as of December 31, 2023
2,885$3,784.80 
Granted
1,797,111 $3.72 
Released(1,322,382)$1.31 
Forfeited
(37,207)$2.32 
Outstanding as of December 31, 2024
440,407 $3.61 
(1) The Company’s subsidiaries in China have employees who are citizens of the PRC. Pursuant to the regulation Circular 78 and Circular 7 issued by the Central State Administration of Foreign Exchange of PRC (“SAFE”), we cannot release vested RSUs to it’s PRC citizen employees before they have completed the required SAFE registration with a dedicated account set up for each of them to repatriate proceeds back to China under the SAFE. As a result, 151 RSUs of the Company’s PRC citizens employees vested in 2022 were included in the outstanding RSUs at December 31, 2022 as unreleased RSUs because those employees did not complete the SAFE registration process.
Schedule of Stock-Based Compensation Expense Included in Each Respective Expense Category
The following table presents stock-based compensation expense for all of the Company’s 2021 Plan, EI Plan, STI Plan and Common Units of FF Global included in each respective expense category in the Consolidated Statements of Operations and Comprehensive Loss is as follows:
Years Ended December 31,
 (in thousands)20242023
Research and development$2,670 $6,812 
Sales and marketing915 807 
General and administrative4,797 1,548 
$8,382 $9,167