Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of assets and liabilities measured at fair value on a recurring basis

The following table summarizes the Company’s assets and liabilities that require fair value measurements on a recurring basis and their respective input levels based on the fair value hierarchy as of September 30, 2023 and December 31, 2022 (in thousands):

			Fair Value Measurements Using
	September 30,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	2023		Level 1		Level 2		Level 3
Assets
Cash equivalents:
Money market funds	$	5,386	$	5,386	$	—	$	—
Short-term investments:
U.S. Treasury securities		12,393		—		12,393		—
Total assets	$	17,779	$	5,386	$	12,393	$	—
Liabilities
Private placement warrant liability	$	40	$	—	$	—	$	40
Total liabilities	$	40	$	—	$	—	$	40

			Fair Value Measurements Using
	December 31,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	2022		Level 1		Level 2		Level 3
Assets
Cash equivalents:
Money market funds	$	8,708	$	8,708	$	—	$	—
Short-term investments:
U.S. Treasury securities		17,602		—		17,602		—
Total assets	$	26,310	$	8,708	$	17,602	$	—
Liabilities
Private placement warrant liability	$	40	$	—	$	—	$	40
Earn-out liability		6		—		—		6
Total liabilities	$	46	$	—	$	—	$	46

Summary of Short term Investment

The following tables summarize the Company’s short-term investments accounted for as available-for-sale securities as of September 30, 2023 and December 31, 2022 (in thousands):

				September 30, 2023
	Maturity	Amortized		Unrealized		Unrealized			Estimated
	(in years)	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	1 year or less	$	12,394	$	—	$	(1	)	$	12,393
		$	12,394	$	—	$	(1	)	$	12,393

				December 31, 2022
	Maturity	Amortized		Unrealized		Unrealized			Estimated
	(in years)	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	1 year or less	$	17,620	$	1	$	(19	)	$	17,602
		$	17,620	$	1	$	(19	)	$	17,602

Private Placement Warrants Liability [Member]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of fair value measurements inputs

The following key assumptions were used in determining the fair value of the private placement warrant liability valued using the Black-Scholes option pricing model as of September 30, 2023 and December 31, 2022:

	September 30, 2023			December 31, 2022
Common stock price	$	0.60		$	0.43
Expected volatility		125.0	%		125.0	%
Risk-free interest rate		4.8	%		4.2	%
Expected term (in years)		2.9			3.7
Expected dividend yield		—			—

Summary of change in fair value of derivative warrant liabilities

The following table presents activity for the private placement warrant liability measured at fair value using significant unobservable Level 3 inputs during the nine months ended September 30, 2023 (in thousands):

	Private Placement Warrant Liability
Balance at December 31, 2022	$	40
Change in fair value		—
Balance at September 30, 2023	$	40