XML 46 R35.htm IDEA: XBRL DOCUMENT v3.25.3
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities
The following tables summarize the fair value of assets and liabilities that are recorded in the Company’s condensed consolidated balance sheets as of September 30, 2025 and December 31, 2024 at fair value on a recurring basis.

September 30, 2025
Frequency of
Measurement
TotalLevel 1Level 2Level 3
Liabilities
Warrant liabilities - Conversion Series ARecurring36,859 — — 36,859 
Total liabilities measured at fair value$36,859 $— $— $36,859 
December 31, 2024
Frequency of
Measurement
TotalLevel 1Level 2Level 3
Liabilities
Earn-out liabilitiesRecurring$134,156 $— $— $134,156 
Warrant liabilities - Conversion Series ARecurring68,778 — — 68,778 
Total liabilities measured at fair value$202,934 $— $— $202,934 
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables provide roll-forwards of the Company’s Level 3 liabilities (in thousands):

Earn-out liabilitiesWarrant liabilities - Conversion Series ATotal Warrant liabilities
Balance, December 31, 2024$134,156 $68,778 $68,778 
Change in fair value33,369 (31,919)(31,919)
Converted to equity(167,525)— — 
Balance, September 30, 2025$— 36,859 36,859 


Earn-out liabilitiesWarrant liabilities - Series AWarrant liabilities - Series BTotal Warrant liabilities
Balance, December 31, 2023$14,032 $8,612 $2,682 $11,294 
Additions— 20,827 11,262 32,089 
Change in fair value33,816 18,800 17,841 36,641 
Converted to equity— (20,471)(9,758)(30,229)
Balance, September 30, 2024$47,848 27,768 22,027 49,795