v3.26.1
FAIR VALUE MEASUREMENT (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
SUMMARY OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS

Assets and liabilities measured at fair value on a recurring basis are as follows:

 

   Level 1   Level 2   Level 3   Total 
   December 31, 2025 
   Level 1   Level 2   Level 3   Total 
Assets:                    
Money market funds  $32,500   $-   $-   $32,500 
Total assets  $32,500   $-   $-   $32,500 
                     
Liabilities:                    
Warrant liability  $-   $-   $30   $30 
Earn-out liabilities   -         -    1,986    1,986 
Total liabilities  $-   $-   $2,016   $2,016 

 

   Level 1   Level 2   Level 3   Total 
   December 31, 2024 
   Level 1   Level 2   Level 3   Total 
Assets:                
Marketable securities  $13,630   $-   $-   $13,630 
Money market funds   27,347    -    -    27,347 
Alternative fuel credits   -    51    -    51 
Total assets  $40,977   $51   $-   $41,028 
                     
Liabilities:                    
Warrant liability  $-   $-   $22   $22 
Common stock consideration payable   -    -    21,028    21,028 
Total liabilities  $-   $-   $21,050   $21,050 
SUMMARY OF ASSUMPTIONS USED FOR VALUATION OF WARRANT LIABILITIES

Assumptions utilized in the valuation of warrant liabilities are described as follows:

 

   For the Years Ended 
   December 31, 
   2025   2024   2023 
Risk-free interest rate   3.96%-4.03%   3.98%-5.09%   4.64%-5.46%
Contractual term (years)   1.00    1.00    1.00 
Expected volatility   74%-80%   84%-92%   67%-80%
Expected dividend yield   0.00%   0.00%   0.00%
SUMMARY OF CHANGES IN FAIR VALUE OF LEVEL 3 WARRANT LIABILITIES MEASURED AT RECURRING BASIS

The following table sets forth a summary of the changes in the fair value of Level 3 liabilities that are measured at fair value on a recurring basis:

 

   2025   2024 
         
Common Stock Consideration Payable          
Beginning balance as of January 1,  $21,028   $18,118 
Change in fair value of consideration payable   (9,238)   2,910 
Issuance of common stock and warrants in satisfaction of consideration payable   (11,790)   - 
Ending balance as of December 31,  $-   $21,028 
           
Warrant Liability          
Beginning balance as of January 1,  $22   $32 
Change in fair value of warrant liability   8    (10)
Ending balance as of December 31,  $30   $22 
           
Earn-Out Liabilities          
Beginning balance as of January 1,  $-   $- 
Contingent consideration assumed in Zemetric acquisition   2,194    - 
Common stock issued in satisfaction of earn-out liabilities   (206)   - 
Change in fair value of earn-out liabilities   (2)   - 
Ending balance as of December 31,  $1,986   $-