Stockholders' Equity

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

Stockholders' Equity

Stockholders' Equity

At-The-Market Offering

On May 23, 2025, the Company entered into a sales agreement (the “Sales Agreement”) with Roth Capital Partners, LLC (“Roth”) and TCBI Securities, Inc., doing business as Texas Capital Securities (“TCS”), with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of its Class A common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $50.0 million. For the three and six months ended June 30, 2025, the Company issued an aggregate of 164,971 shares of common stock pursuant to the Sales Agreement at a weighted average purchase price of $2.28 resulting in aggregate gross proceeds of approximately $0.4 million, reduced by $13,000 in issuance costs, resulting in net proceeds to the Company of approximately $0.4 million. In connection with the Sales Agreement, the Company incurred total stock issuance costs of $0.4 million. These issuance costs were recorded as deferred stock issuance costs and included in the “Prepaid expenses and other current assets” line item of the Company’s accompanying condensed consolidated balance sheet as of June 30, 2025. Such deferred stock issuance costs will be recognized as a direct reduction of additional paid-in capital in proportion to securities sold under the Sales Agreement. During the three and six months ended June 30, 2025, the Company recognized approximately $1,000 as a direct reduction of additional paid-in capital relating to securities sold under the Sales Agreement.