| Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis |
The following tables present information about the Company's assets and liabilities that are measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands):
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As of June 30, 2026 |
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Total |
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Quoted
Prices In
Active
Markets
(Level 1) |
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Significant
Other
Observable
Inputs
(Level 2) |
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Significant
Other
Unobservable
Inputs
(Level 3) |
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Assets: |
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Cash equivalents |
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|
Money market funds |
|
$ |
7,690 |
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|
$ |
7,690 |
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$ |
— |
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|
$ |
— |
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Short-term investments |
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|
|
|
|
|
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— |
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|
|
— |
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Mutual funds |
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14,032 |
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|
14,032 |
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— |
|
|
|
— |
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U.S. treasury securities |
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80,333 |
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80,333 |
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Long-term investments |
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U.S. treasury securities |
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105,346 |
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|
105,346 |
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— |
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— |
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Liabilities: |
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Public Warrant liability |
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$ |
74 |
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$ |
74 |
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$ |
— |
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$ |
— |
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Private Placement Warrant liability |
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3 |
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|
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— |
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— |
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|
3 |
|
Tranche C Preferred Warrants |
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7,152 |
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|
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— |
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— |
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|
7,152 |
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|
As of December 31, 2025 |
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|
|
Total |
|
|
Quoted
Prices In
Active
Markets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Other
Unobservable
Inputs
(Level 3) |
|
Assets: |
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|
|
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|
|
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Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
9,128 |
|
|
$ |
9,128 |
|
|
$ |
— |
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|
$ |
— |
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Short-term investments |
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|
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Mutual funds |
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59,130 |
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59,130 |
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|
|
— |
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— |
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U.S. treasury securities |
|
|
24,027 |
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|
24,027 |
|
|
|
— |
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— |
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Corporate Bonds |
|
|
2,933 |
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— |
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|
2,933 |
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— |
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Long-term investments |
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U.S. treasury securities |
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|
42,784 |
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|
42,784 |
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— |
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— |
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Corporate Bonds |
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|
4,109 |
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|
— |
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|
4,109 |
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|
— |
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Liabilities: |
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|
|
|
|
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|
|
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|
Public Warrant liability |
|
$ |
179 |
|
|
$ |
179 |
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$ |
— |
|
|
$ |
— |
|
Private Placement Warrant liability |
|
|
7 |
|
|
|
— |
|
|
|
— |
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|
7 |
|
Tranche C Preferred Warrants |
|
|
5,449 |
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|
|
— |
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|
|
— |
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|
5,449 |
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| Summary of Changes in Level 3 Fair Value Measurements |
The following table provides a summary of the changes in Level 3 fair value measurements for the Private Placement Warrant liability:
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Balance, December 31, 2025 |
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$ |
7 |
|
Change in fair value of Private Placement Warrant liability |
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|
(1 |
) |
Balance, March 31, 2026 |
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$ |
6 |
|
Change in fair value of Private Placement Warrant liability |
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|
(3 |
) |
Balance, June 30, 2026 |
|
$ |
3 |
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| Summary of Changes in Level 3 Fair Value Measurements |
The following table provides a summary of the changes in Level 3 fair value measurements for the Preferred Warrant liabilities:
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Balance, December 31, 2025 |
|
$ |
5,449 |
|
Change in fair value of the Preferred Warrant liabilities |
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|
513 |
|
Balance, March 31, 2026 |
|
$ |
5,962 |
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Change in fair value of the Preferred Warrant liabilities |
|
|
1,190 |
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Balance, June 30, 2026 |
|
$ |
7,152 |
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