Fair Value Measurements (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Fair Value Measurements |
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| Summary of the asset type, balance sheet classification, maturity, and fair value of marketable securities and investments |
| | | | | | | | Assets | Balance Sheet Classification | Maturity | June 30, 2026 | | December 31, 2025 | Commercial Paper | Marketable securities | Due in 1 year or less | $ | 59,483 | | $ | 62,166 | Corporate Bonds | Marketable securities | Due in 1 year or less | | 126,309 | | | 122,941 | Government Bonds | Marketable securities | Due in 1 year or less | | 21,320 | | | 39,053 | U.S. Treasuries | Marketable securities | Due in 1 year or less | | 11,039 | | | 5,017 | | Total Marketable securities | | $ | 218,151 | | $ | 229,177 | | | | | | | | | | | | | | | | | Corporate Bonds | Investments | Due in 1 year to 5 years | $ | 152,413 | | $ | 63,187 | Government Bonds | Investments | Due in 1 year to 5 years | | 24,478 | | | 22,479 | Equity Method Investment | Investments | | | 974 | | | 1,331 | | Total Investments | | $ | 177,865 | | $ | 86,997 |
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| Schedule of financial assets and liabilities measured and recorded at fair value on a recurring basis |
| | | | | | | | | | | | | | | | | June 30, 2026 | | | | Level 1 | | Level 2 | | Level 3 | | Total | Assets | Balance Sheet Classification | | | | | | | | | | | | | Commercial Paper | Marketable securities | | $ | 59,483 | | $ | — | | $ | — | | $ | 59,483 | Corporate Bonds | Marketable securities | | $ | 126,309 | | $ | — | | $ | — | | $ | 126,309 | Government Bonds | Marketable securities | | $ | 21,320 | | $ | — | | $ | — | | $ | 21,320 | U.S. Treasuries | Marketable securities | | $ | 11,039 | | $ | — | | $ | — | | $ | 11,039 | Corporate Bonds | Investments | | $ | 152,413 | | $ | — | | $ | — | | $ | 152,413 | Government Bonds | Investments | | $ | 24,478 | | $ | — | | $ | — | | $ | 24,478 | Bifurcated embedded derivative | Loan receivable from equity method investee | | $ | — | | $ | — | | $ | 584 | | $ | 584 | | | | | | | | | | | | | | | Liabilities | | | | | | | | | | | | | | Public Warrants | Warrant liabilities | | $ | 1,476 | | $ | — | | $ | — | | $ | 1,476 | Private Placement Warrants | Warrant liabilities | | $ | — | | $ | 514 | | $ | — | | $ | 514 |
| | | | | | | | | | | | | | | | | December 31, 2025 | | | | Level 1 | | Level 2 | | Level 3 | | Total | Assets | Balance Sheet Classification | | | | | | | | | | | | | Commercial Paper | Marketable securities | | $ | 62,167 | | $ | — | | $ | — | | $ | 62,167 | Corporate Bonds | Marketable securities | | $ | 122,941 | | $ | — | | $ | — | | $ | 122,941 | Government Bonds | Marketable securities | | $ | 39,053 | | $ | — | | $ | — | | $ | 39,053 | U.S. Treasuries | Marketable securities | | $ | 5,017 | | $ | — | | $ | — | | $ | 5,017 | Corporate Bonds | Investments | | $ | 63,187 | | $ | — | | $ | — | | $ | 63,187 | Government Bonds | Investments | | $ | 22,479 | | $ | — | | $ | — | | $ | 22,479 | Bifurcated embedded derivative | Loan receivable from equity method investee | | $ | — | | $ | — | | $ | 584 | | $ | 584 | | | | | | | | | | | | | | | Liabilities | | | | | | | | | | | | | | Public Warrants | Warrant liabilities | | $ | 9,911 | | $ | — | | $ | — | | $ | 9,911 | Private Placement Warrants | Warrant liabilities | | $ | — | | $ | 3,970 | | $ | — | | $ | 3,970 |
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| Schedule of Level 2 inputs used in the recurring valuation of the Private Placement Warrants |
| | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Exercise price | | $ | 11.50 | | $ | 11.50 | | Stock price | | $ | 2.59 | | $ | 4.25 | | Volatility | | | 138.0 | % | | 114.5 | % | Term (in years) | | | 0.44 | | | 0.94 | | Risk-free rate | | | 3.90 | % | | 3.43 | % |
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| Schedule of reconciliation of warrants measured at fair value |
| | | | | | | | | Public Warrants | | Private Placement Warrants | | | Level 1 Fair Value | | Level 2 Fair Value | December 31, 2025 | | $ | 0.71 | | $ | 0.74 | Change in fair value | | $ | (0.49) | | $ | (0.52) | March 31, 2026 | | $ | 0.22 | | $ | 0.22 | Change in fair value | | $ | (0.12) | | $ | (0.12) | June 30, 2026 | | $ | 0.10 | | $ | 0.10 |
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