Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Summary of Investments Measured and Recognized at Fair Value

The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. The following tables set forth the fair value of the Company’s financial assets, which consist of cash equivalents and marketable securities measured and recognized at fair value (in thousands):


				March 31, 2026
		Fair Value Hierarchy Level		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Financial assets included in cash and cash equivalents:
Money market funds		Level 1		$	43,610			$	—			$	—			$	43,610
Total					43,610				—				—				43,610
Liabilities:
Warrant liability		Level 3			18,372				—				—				18,372
Total				$	18,372			$	—			$	—			$	18,372


				December 31, 2025
		Fair Value Hierarchy Level		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Financial assets included in cash and cash equivalents:
Money market funds		Level 1		$	55,030			$	—			$	—			$	55,030
Total					55,030				—				—				55,030
Liabilities:
Warrant liability		Level 3			17,791				—				—				17,791
Total				$	17,791			$	—			$	—			$	17,791

Summary of Roll Forward of Aggregate Fair Value of Warrant Liability Categorized within Level 3 Inputs

The following table provides a full roll forward of the aggregate fair value of the warrant liability categorized within Level 3 inputs (in thousands):


		Warrant Liability
Balance at December 31, 2025		$	17,791
Issuance of common warrants			—
Change in fair value			581
Balance at March 31, 2026		$	18,372