Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Components of the Company's Loss Before Income Tax Expense

The components of the Company’s loss before income tax expense are as follows (in thousands):


	Year Ended December 31,
	2025		2024
United States	$	(33,192)	$	(54,046)
Foreign	116		29
Loss before income tax provision	$	(33,076)	$	(54,017)

Schedule of Income Tax Expense

Income tax expense is comprised of the following (in thousands):


	Year Ended December 31,
	2025		2024
Current:
Federal	$	—	$	—
State	34		—
Foreign	28		—
Total current income tax expense	$	62	$	—

Deferred:
Federal	$	—	$	—
State	—		—
Foreign	—		—
Total deferred income tax expense	$	—	$	—

Total income tax expense	$	62	$	—

Schedule of Reconciliation of the U.S Federal Statutory Income Tax Rate to the Company's Effective Income Tax Rate


	Year Ended December 31, 2025
	Amount (in thousands)		Percent
Federal statutory income tax rate	$	(6,946)	21.0 %
State and local income tax, net of federal income tax effect	—		—



Change in valuation allowance	10,125		(30.6)

Nontaxable or nondeductible items:
Change in fair value of contingent earn-out liability, public warrants, and contingently issuable common stock liability	(3,252)		9.8
Stock-based compensation	(6,934)		20.9
Non-deductible compensation	6,976		(21.0)
Permanent differences	83		(0.3)
Other	10		0.2
Effective income tax rate	$	62	0.0	%

The following table is a reconciliation of the US federal statutory rate of 21.0 % to the effective tax rate prior to the adoption of ASU 2023-09:


	Year Ended December 31, 2024

Federal statutory income tax rate	21.0 %
State income taxes, net of federal benefit	7.7
Federal and state research and development tax credits	(0.1)
Change in fair value of contingent earn-out liability and contingently issuable common stock liability	9.9
Change in valuation allowance	(42.9)
Change in uncertain tax positions	(0.1)
Change in tax rate	3.3
Stock-based compensation	1.1
Non-deductible compensation	0.5
Permanent differences	(0.2)
Other	(0.2)
Effective income tax rate	0.0	%

Schedule of Net Deferred Tax Assets

Net deferred tax assets consisted of the following (in thousands):


	December 31,
	2025		2024
Deferred tax assets:
Net operating loss carryforwards	$	69,652	$	57,450
Research and development tax credit carryforwards	3,530		3,594
Capitalized research and development costs	14,252		15,868
Accrued expenses	12,021		9,991
Deferred revenue	24,154		22,531
Lease liability	3,596		3,848
Other	4,729		2,960
Total deferred tax assets	131,934		116,242
Valuation allowance	(119,329)		(106,268)
Total deferred tax assets, net of valuation allowance	12,605		9,974
Deferred tax liabilities:
Depreciation and amortization	(9,345)		(6,250)
Right of use lease asset	(3,243)		(3,706)
Other	(17)		(18)
Total deferred tax liabilities	(12,605)		(9,974)
Net deferred tax assets	$	—	$	—

Schedule of Changes in the Valuation Allowance for Deferred Tax Assets

Changes in the valuation allowance for deferred tax assets related primarily to the increase in net operating loss carryforwards and capitalized R&D costs and were as follows (in thousands):


	December 31,
	2025		2024
Valuation allowance as of beginning of year	$	106,268	$	83,113
Additions charged to provision for income taxes	13,061		23,155


Valuation allowance as of end of year	$	119,329	$	106,268

Schedule of Uncertain Tax Positions

The following table summarizes the activity related to the Company’s uncertain tax positions (excluding interest and penalties and related tax attributes) (in thousands):


	December 31,
	2025		2024
Balance at beginning of fiscal year	$	447	$	428
Gross increases related to prior year tax positions	18		20



Foreign exchange and others	(76)		(1)
Balance at end of fiscal year	$	389	$	447