v3.25.4
Derivative Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Liabilities Measured at Fair Value on Recurring Basis
The components of derivative liabilities measured at fair value on a recurring basis were as follows (in millions):
As of
Fair value levelDecember 31,
2025		December 31,
2024
Public warrants
Level 1$2 $13 
Private placement warrants
Level 22 9 
Common stock warrants (a)
4 22 
Earnout share liabilities (b)
Level 315 26 
Total derivative liabilities
$19 $48 
(a) Included in other current liabilities as of December 31, 2025 and derivative liabilities, long term as of December 31, 2024 on the consolidated balance sheets
(b) Included in derivative liabilities, long term on the consolidated balance sheets
Schedule of Valuation Inputs of the Earnout Share Liability
The valuation inputs utilized in determining the earnout share liability were as follows:
As of
December 31,
2025		December 31,
2024
Risk-free interest rates
3.8 %4.5 %
Expected term (in years)
5.8 6.8 
Expected volatility81.0 %64.0 %
Schedule of Fair Value of Derivative Liabilities
The components of change in fair value of derivative liabilities were as follows (in millions):
Twelve Months Ended
December 31,
202520242023
Common stock warrants
$18 $(12)$(7)
Earnout share liabilities
11 (12)(13)
Change in fair value of derivative liabilities
$29 $(24)$(20)