Derivatives (Tables)

12 Months Ended

Dec. 31, 2024

Warrants and Rights Note Disclosure [Abstract]

Schedule of Derivatives Fair Value Assumptions

The table below presents the value of the 2029 Notes Conversion Option under the Black-Scholes OPM using the following assumptions as of the following dates:

	December 31, 2024		December 19, 2024
Value of 2029 Notes Conversion Option ($ thousands)	$	115,831	$	61,402
Conversion price	$	3.55	$	3.55
Common stock price	$	4.45	$	2.82
Expected term (years)	5.0		5.0
Expected volatility	37.60%		37.60%
Risk-free rate of return	4.30%		4.40%
Expected annual dividend yield	—%		—%

The table below presents the value of the RDO warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	December 31, 2023
Value of each RDO warrant	$	1.69
Exercise price	$	2.32
Common stock price	$	2.14
Expected term (years)	5.0
Expected volatility	110.00%
Risk-free rate of return	3.80%
Expected annual dividend yield	—%

The table below presents the value of the 2024 RDO warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	December 31, 2024		February 28, 2024
Value of each 2024 RDO warrant	$	3.73	$	2.62
Exercise price	$	3.78	$	3.78
Common stock price	$	4.45	$	3.14
Expected term (years)	4.7		5.5
Expected volatility	120.00%		117.60%
Risk-free rate of return	4.31%		4.20%
Expected annual dividend yield	—%		—%

The table below presents the value of the PIPE warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	January 19, 2023
Value of each PIPE warrant	$	1.22
Exercise price	$	2.39
Common stock price	$	1.87
Expected term (years)	5.5
Expected volatility	82.10%
Risk-free rate of return	3.40%
Expected annual dividend yield	—%

The table below presents the value of the 2024 PIPE warrant under the Black-Scholes OPM using the following assumptions as of the following dates:

	December 31, 2024		March 4, 2024
Value of each 2024 PIPE warrant	$	3.64	$	3.11
Exercise price	$	4.75	$	4.75
Common stock price	$	4.45	$	3.75
Expected term (years)	4.7		5.5
Expected volatility	120.00%		117.00%
Risk-free rate of return	4.32%		4.10%
Expected annual dividend yield	—%		—%

The table below presents the value of the 2026 Notes Conversion Option under the Black-Scholes OPM using the following assumptions as of the following dates:

	December 31, 2024		December 31, 2023
Value of 2026 Notes Conversion Option ($ thousands)	$	322	$	491
Conversion price	$	10.61	$	10.61
Common stock price	$	4.45	$	2.14
Expected term (years)	1.9		2.9
Expected volatility	93.30%		40.00%
Risk-free rate of return	4.25%		4.01%
Expected annual dividend yield	—%		—%

The table below presents the value of the IPO private warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	December 31, 2024		December 31, 2023
Fair value of each IPO private warrant	$	1.84	$	0.38
Exercise price	$	11.50	$	11.50
Common stock price	$	4.45	$	2.14
Expected term (in years)	1.9		2.9
Expected volatility	93.30%		82.30%
Risk-free rate of return	4.25%		4.00%
Expected annual dividend yield	—%		—%

Schedule of Warrants Issued and Outstanding

The table below presents the Company’s IPO public warrants issued and outstanding as of the following periods:

	December 31, 2024	December 31, 2023
IPO public warrants issued	12,168,378	12,150,878
IPO public warrants outstanding	12,168,378	12,150,878

The table below presents the Company’s IPO private warrants issued and outstanding as of the following periods:

	December 31, 2024	December 31, 2023
IPO private warrants issued	157,394	174,894
IPO private warrants outstanding	157,394	174,894

Schedule of Derivatives Change in Fair Value

The following was recognized as a result of the change in fair value for the three and the year ended December 31, 2024 and December 31, 2023 and is presented in net increase (decrease) in fair value of derivatives on the consolidated statements of operations:

	Year Ended December 31,
	2024		2023		2022
Loss (gain) on change in fair value of IPO private warrants	$	266	$	57	$	(267)