v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following table presents the assets and liabilities that the Company measures at fair value on a recurring basis included in the condensed consolidated balance sheets and indicates the level of the valuation inputs the
Company utilized to determine the fair value:
June 30,December 31,
$ in thousandsLevel20262025
Assets
Available-for-sale investments1$190,437 $176,704 
Total assets$190,437 $176,704 
Liabilities
Public Warrants1$2,500 $4,310 
Private Placement Warrants33,270 6,540 
Total liabilities$5,770 $10,850 
Schedule of Reconciliation of Level 3 Fair Value of Liabilities
The following table contains a reconciliation of the beginning and ending balances of recurring Level 3 fair value measurements included in the condensed consolidated statements of operations and comprehensive loss:
Three Months Ended June 30,Six Months Ended June 30,
$ in thousands2026202520262025
Balance of recurring Level 3 liabilities at beginning of period$3,488 $6,404 $6,540 $52,207 
Change in Earnout Shares liability— (61)— (1,937)
Change in Private Placement Warrant liability(218)(1,526)(3,270)(45,453)
Balance of recurring Level 3 liabilities at end of period$3,270 $4,817 $3,270 $4,817 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following table contains the key inputs used in the valuations of the Private Placement Warrants:
June 30, 2026December 31, 2025
Term (in years)1.942.44
Volatility111.0 %104.0 %
Risk-free rate4.1 %3.5 %