| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | | Money market funds | $ | 39,406 | | | $ | — | | | $ | — | | | $ | 39,406 | | | Treasury bills | — | | | 19,885 | | | — | | | 19,885 | | | Contingently returnable common stock asset | $ | — | | | $ | — | | | $ | 4,094 | | | $ | 4,094 | | | $ | 39,406 | | | $ | 19,885 | | | $ | 4,094 | | | $ | 63,385 | | | Liabilities: | | | | | | | | | Contingent earn-out liability | $ | — | | | $ | — | | | $ | 374 | | | $ | 374 | | | Contingently issuable common stock liability | — | | | — | | | 1,809 | | | 1,809 | | | Public Warrant liability | 3,862 | | | — | | | — | | | 3,862 | | | $ | 3,862 | | | $ | — | | $ | — | | $ | 2,183 | | $ | — | | $ | 6,045 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2024 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | | Money market funds | $ | 28,946 | | | $ | — | | | $ | — | | | $ | 28,946 | | | Treasury bills | $ | — | | | $ | 27,417 | | | $ | — | | | $ | 27,417 | | | $ | 28,946 | | | $ | 27,417 | | | $ | — | | | $ | 56,363 | | | Liabilities: | | | | | | | | | Contingent earn-out liability | — | | | — | | | 12,809 | | | 12,809 | | | Contingently issuable common stock liability | — | | | — | | | 4,001 | | | 4,001 | | | Public Warrant liability | 4,297 | | | — | | | — | | | 4,297 | | | $ | 4,297 | | | $ | — | | | $ | 16,810 | | | $ | 21,107 | |
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| Schedule of Common Stock Warrant Liability |
The following table provides a rollforward of the contingent earn-out liability (in thousands): | | | | | | | Balance at December 31, 2023 | $ | 29,119 | | | Change in fair value | (16,310) | | | Balance at December 31, 2024 | $ | 12,809 | | | Change in fair value | (12,435) | | | Balance at December 31, 2025 | $ | 374 | |
The following table provides a rollforward of the contingently issuable common shares (in thousands): | | | | | | | Balance at December 31, 2023 | $ | 6,530 | | | Change in fair value | (2,529) | | | Balance at December 31, 2024 | $ | 4,001 | | | Change in fair value | 32 | | | Fair value adjustment for contingently returnable shares | (2,224) | | | Balance at December 31, 2025 | $ | 1,809 | |
The following table provides a rollforward of the public warrant liability (in thousands): | | | | | | | Balance at December 31, 2023 | $ | 10,889 | | | Change in fair value | (6,592) | | | Balance at December 31, 2024 | $ | 4,297 | | | Change in fair value | (435) | | | Balance at December 31, 2025 | $ | 3,862 | |
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| Schedule of Contingently ReturnableCommon Shares |
The following table provides a rollforward of the contingently returnable common stock asset (in thousands):
| | | | | | | Balance at December 31, 2024 | $ | — | | | Change in fair value | 2,646 | | | Fair value adjustment for contingently returnable shares | 1,448 | | | Balance at December 31, 2025 | $ | 4,094 | |
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