v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Measurements [Line Items]  
Schedule of Liabilities Measured at Fair Value on a Recurring Basis

The following tables provide information related to the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024 (in thousands):

 

   June 30, 2025 
   Level 1   Level 2   Level 3   Total 
Liabilities:                
Forward purchase agreement warrant liability  $
   $
   $14   $14 
Publicly traded warrant liability   500    
    
    500 
   $500   $
   $14   $514 

 

   December 31, 2024 
   Level 1   Level 2   Level 3   Total 
Liabilities:                
Forward purchase agreement warrant liability  $
   $
   $472   $472 
Publicly traded warrant liability   662    
    
    662 
   $662   $
   $472   $1,134 
Schedule of Measured at Fair Value on a Recurring Basis

The following table summarizes the activity for the Company’s Level 3 instruments measured at fair value on a recurring basis (in thousands):

 

   Forward Purchase Agreement
Warrant Liability
 
Balance as of December 31, 2024  $472 
Change in fair value   (458)
Balance as of June 30, 2025  $14 
Warrant Liability [Member]  
Fair Value Measurements [Line Items]  
Schedule of Fair Value Measurements of the Forward Purchase Agreement Warrant Liability The following table presents the quantitative information regarding Level 3 fair value measurements of the forward purchase agreement warrant liability as of June 30, 2025 and December 31, 2024:
   June 30,
2025
   December 31,
2024
 
Stock price  $1.42   $1.43 
Initial exercise price  $10.46   $10.46 
Annual volatility   67.0%   130.0%
Remaining term (in years)   0.50    1.00 
Risk-free rate   4.20%   4.08%