v3.26.3
Derivative Liabilities (Tables)
 9 Months Ended
Sep. 30, 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 levelSeptember 30,
2026		December 31,
2025
Public warrants
Level 1$— $2 
Private placement warrants
Level 2— 2 
Common stock warrants (a)
— 4 
Earnout share liabilities (b)
Level 323 15 
Total derivative liabilities
$23 $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
September 30,
2026		December 31,
2025
Risk-free interest rates
5.1 
%
3.8 
%
Expected term (in years)
5.1 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
September 30,		Nine Months Ended
September 30,
2026202520262025
Common stock warrants
$6 $6 $4 $10 
Earnout share liabilities
7 (1)(8)2 
Change in fair value of derivative liabilities
$13 $5 $(4)$12