Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements and Fair Value of Financial Instruments (Tables)

v3.26.3
Fair Value Measurements and Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurement Inputs and Valuation Techniques The Private Placement Warrants and Public Warrants are classified as Level 3 and their value was determined by using a Black-Scholes Model with the following assumptions for the date indicated:
September 30,
2026		 December 31,
2025
Fair value of common stock $1.06 $1.10
Exercise Price $57.50 $57.50
Risk-free interest rate 4.54% 3.47%
Expected term (in years) 0.79 1.50
Volatility 46.66% 63.25%
Dividend yield — —
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables set forth the Company’s financial instruments that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands):
September 30, 2026
Level 1 Level 2 Level 3 Total
Financial Assets:
Cash equivalents:
Money market funds $ 7,007  $ —  $ —  $ 7,007 
Total $ 7,007  $ —  $ —  $ 7,007 
Financial Liabilities:
Earn-Out Shares $ —  $ —  $ 642  $ 642 
Total $ —  $ —  $ 642  $ 642 
December 31, 2025
Level 1 Level 2 Level 3 Total
Financial Assets:
Cash equivalents:
Money market funds $ 7,479  $ —  $ —  $ 7,479 
Total $ 7,479  $ —  $ —  $ 7,479 
Financial Liabilities:
Earn-Out Shares $ —  $ —  $ 871  $ 871 
Total $ —  $ —  $ 871  $ 871 
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table provides a summary of changes in the estimated fair value of the Earn-Out Shares (in thousands):
Balance as of December 31, 2025 $ 871 
Change in fair value (229)
Balance as of September 30, 2026 $ 642