v3.26.1
Derivative Liabilities (Tables)
 3 Months Ended
Mar. 31, 2026
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 levelMarch 31,
2026		December 31,
2025
Public warrants
Level 1$2 $2 
Private placement warrants
Level 22 2 
Common stock warrants (a)
4 4 
Earnout share liabilities (b)
Level 316 15 
Total derivative liabilities
$20 $19 
(a) Included in other current liabilities on the condensed consolidated balance sheets
(b) Included in derivative liabilities, long term on the condensed 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
March 31,
2026		December 31,
2025
Risk-free interest rates
4.1 
%
3.8 
%
Expected term (in years)
5.6 5.8 
Expected volatility
81.0 
%
81.0 
%
Schedule of Fair Value of Derivative Liabilities
The components of change in fair value of derivative liabilities were as follows (in millions):
Three Months Ended
March 31,
20262025
Common stock warrants
$— $(7)
Earnout share liabilities
(1)(2)
Change in fair value of derivative liabilities
$(1)$(9)