v3.25.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Liabilities Measured at Fair Value on Recurring Basis The following tables classify the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy:
Fair value measured at September 30, 2025
(in thousands)
Fair value at
September 30, 2025
Quoted prices in
active markets
(Level 1)
Significant other
observable inputs
(Level 2)
Significant
unobservable inputs
(Level 3)
Warrant liability$5,921 $- $- $5,921 
Fair value measured at December 31, 2024
(in thousands)
Fair value at
December 31, 2024		Quoted prices in
active markets
(Level 1)
Significant other
observable inputs
(Level 2)
Significant
unobservable inputs
(Level 3)
Warrant liability$8,107 $- $- $8,107 
Schedule of Fair Value of Warrant Liabilities Using Black-Scholes Model
Significant Black Scholes valuation model inputs related to the Company’s warrants are listed below:
September 30, 2025December 31, 2024
Weighted average expected life in years0.230.85
Weighted average volatility60%91%
Value of underlying shares$37.48$22.76
Weighted average risk free interest rate3.96%4.10%
Expected dividend yield0%0%
Schedule of Warranty Liability
A summary of the Level 3 warrant activity for the three and nine months ended September 30, 2025, is as follows:
(in thousands, except per share data)Warrants
Outstanding		Fair Value
per Share		Warrant Liability
Fair Value
Balance at June 30, 2025390$30.82 $12,018 
Expired(222)
Change in fair value(6,097)
Balance at September 30, 2025168$35.24 $5,921 
(in thousands, except per share data)Warrants
Outstanding 		Fair Value
per Share		Warrant Liability
Fair Value
Balance at December 31, 2024390$20.79 $8,107 
Expired(222)
Change in fair value(2,186)
Balance at September 30, 2025168$35.24 $5,921