INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets (Liabilities)

Significant components of the Company’s deferred tax assets (liabilities) are as follows:

	As of December 31,
	2024			2023
Gross deferred tax assets (liabilities):
Net operating loss carryforwards	$	52,441		$	45,197
Tax credit carryforwards		4,173			3,975
Fixed assets		(130	)		(138	)
Stock-based compensation		3,044			2,398
Capitalized R&D		11,780			8,594
Deferred revenue		612			669
Other		256			122
Total deferred tax assets		72,176			60,817
Valuation allowance		(72,176	)		(60,817	)
Net deferred tax assets (liabilities)	$	—		$	—

Schedule of Reconciliation of Anticipated Income Tax Expense Benefit Computed by Statutory Federal Income Tax Rate

A reconciliation of the income tax expense at the federal statutory tax rate to the Company’s effective income tax rate follows:

	As of December 31,
	2024			2023
Statutory tax rate		21.0	%		21.0	%
State taxes, net of federal benefit		5.7	%		1.9	%
Federal research and development credit		—	%		(3.9	)%
Stock-based compensation		(1.2	)%		(1.8	)%
Deferred tax adjustment resulting from tax rate change		2.6	%		(0.2	)%
Other		(0.2	)%		(0.2	)%
Valuation allowance		(27.9	)%		(16.8	)%
Effective tax rate		0.0	%		0.0	%

Schedule of Tax Net Operating Loss Carryforward and Tax Credit Carryforward

As of December 31, 2024, the Company had the following tax net operating loss carryforwards available to reduce future federal and state taxable income, and tax credit carryforwards available to offset future federal and state income taxes:

	Hyperfine
	Amount		Begin to Expire in
Hyperfine tax net operating loss carryforwards:
Federal (pre-2018 NOLs)	$	12,084	2034
Federal (post-2017 NOLs)		183,030	No Expiration
States		124,274	2031
Tax credit carryforwards:
Federal research and development		2,440	2034
Connecticut research and development		1,538	No Expiration
Connecticut others		6	2025
Federal others		2	2025

	Liminal
	Amount		Begin to Expire in
Liminal tax net operating loss carryforwards:
Federal (pre-2018 NOLs)	$	—
Federal (post-2017 NOLs)		15,625	No Expiration
States		15,621	2038
Tax credit carryforwards:
Federal research and development		448	2038
Connecticut research and development		81	No Expiration
Federal and state other		2	2025