Equity Warrants Classified as Derivative Liabilities

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Equity Warrants Classified as Derivative Liabilities	9 Months Ended
	Sep. 30, 2025
Equity [Abstract]
Equity Warrants Classified as Derivative Liabilities	11. Equity Warrants Classified as Derivative Liabilities Warrant Valuation Equity warrants that are classified as derivative liabilities must be measured at fair value upon issuance and re-valued at the end of each reporting period through expiration and are included in derivative liabilities in the Company's unaudited condensed consolidated balance sheets. Any change in fair value between the respective reporting dates is recognized as an unrealized gain or loss in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss (see Note 16). The Company's derivative liabilities were made up of only equity warrants and the Sponsor Shares as of September 30, 2025 and 2024. The following table is a summary of the number of shares of the Company’s Class A common stock issuable upon exercise of warrants at September 30, 2025: Number of Shares Exercise Price Redemption Price Expiration Date Classification Loss in Value for the Nine Months Ended September 30, 2025 Fair Value as of September 30, 2025 (in thousands) (in thousands) Public Warrants 1,977  $ 92.00  $ 144.00  9/9/2026 Liability $ 940  $ 2,668  Private Placement Warrants - Issued October 2019 520  92.00  144.00  9/9/2026 Liability 193  677  Private Placement Warrants - Issued October 2019 520  160.00  144.00  9/9/2026 Liability 5  234  Private Placement Warrants - Issued March 2023 1,440  17.61  N/A 9/8/2028 Liability 9,947  19,650  In July 2025, 611 thousand of the March 2023 Private Placement Warrants were exercised, which resulted in proceeds of $10.8 million to the Company in exchange for shares of Class A common stock. The Company recognized a net loss in value of $1.2 million related to the exercised warrants during the nine months ended September 30, 2025, which was recorded to gain (loss) on derivatives in the unaudited condensed consolidated statements of operations and comprehensive loss. In addition, the Company has 221 thousand Class A common stock warrants outstanding which have an exercise price of $0.88 and expiration dates from June 27, 2028 to October 31, 2029. These warrants are equity classified and were included in additional paid-in capital in the Company’s unaudited condensed consolidated balance sheets.