Nature of Business and Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Crypto Asset

The table below summarizes the cost basis, fair value at the time of sale, losses, net that are realized and unrealized by crypto asset, and the fair value of outstanding coin as of September 30, 2025 (amounts shown in thousands, except for units purchased and units sold, which are presented in whole numbers):

Crypto Asset	Units Purchased	Total Cost (1)		Units Sold	Proceeds (1)/ Advances			Gain / (loss)		Fair Value of Outstanding Coins
Realized gains and (losses)
USDC	500,000.00	$	500	500,000.00	$	500		$	—	$	—
BTC	35.31	3,947		35.31	3,894			(53)		—
DOGE	525,633.97	135		525,633.97	120			(15)		—
HYPE	6,518.85	232		6,518.85	267			34		—
LINK	8,816.53	173		8,816.53	182			9		—
TRX	355,433.17	127		355,433.17	117			(10)		—
XRP	219,060.68	705		219,060.68	614			(91)		—
BNB	1,317.08	1,173		1,317.08	1,291			119		—
ETH	162.09	739		162.09	628			(111)		—
SOL	1,261.38	272		1,261.38	244			(28)		—
ADA	131,830.65	113		131,830.65	101			(13)		—
SOL	2,936.70	633		2,936.70	568			(65)		—
		8,749			8,526			(224)		—
Unrealized gains and (losses)
ETH	384.08	1,751						(159)		1,592
Advances received on staked coins					1,445		(2)
		$	10,500		$	9,971		$	(383)	$	1,592
(1) includes transaction fees
(2) included as component of Accrued expenses and other current liabilities

Schedule of Property and Equipment, Net

Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets and for building improvements, over the term of the lease, if shorter.

	Useful Life (in years)
Buildings	39
Building improvements	15
Computer hardware	5
Tooling, machinery, and equipment	5 to 10
Vehicles	5
Lease vehicles	7
Computer software	3
Leasehold improvements	Shorter of asset useful life or term of the lease

Property, plant, and equipment, net, consists of the following as of:

(in thousands)	September 30, 2025		December 31, 2024
Land, buildings and building improvements	$	77,951	$	111,443
Computer hardware	2,397		2,397
Tooling, machinery and equipment	122,376		319,313
Vehicles	699		245
Lease vehicles	1,390		3,121
Computer software	4,339		4,339
Construction in process	9,572		27,563
	218,724		468,421
Less: Accumulated depreciation	(54,114)		(119,834)
	$	164,610	$	348,587

Schedule of Disaggregation of Revenue

The following table disaggregates our revenue by major source:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2025		2024		2025		2024
Automotive sales	$	37	$	—	$	37	$	312
Automotive leasing - Sales type	—		—		265		—
Automotive leasing - Operating type	—		9		105		(8)
	$	37	$	9	$	407	$	304

Schedule of Standard Product Warranty Accrual

	Nine Months Ended September 30,
(in thousands)	2025		2024
Accrued warranty- beginning of period	$	545	$	684
Provision for warranty	22		(40)
Warranty costs incurred	(178)		(173)
Accrued warranty- end of period	$	389	$	471