v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements
8. Fair Value Measurements
Certain
non-financial
assets, such as intangible assets and property, equipment and software, are remeasured at fair value only if an impairment is recognized in the current period.
Financial Instruments Recorded at Fair Value on a Recurring Basis
The Company’s warrant liabilities are remeasured at each reporting period
.
Financial Instruments Not Recorded at Fair Value on a Recurring Basis
Some of the Company’s financial instruments are not measured at fair value on a recurring basis but are recorded at amounts that are approximate fair value due to their liquid or short-term nature. Such financial assets and financial liabilities include cash and cash equivalents, including money market deposits, accounts receivables, certain other assets, accounts payable, accrued expenses, and other current liabilities.
 
The following summarizes the fair value of our financial instruments as of December 31, 2024 (in thousands):
 
    
Quoted
Prices In
Active

Markets for

Identical

Assets

Level 1
     
Significant

Other

Observable

Inputs

Level 2
     
Significant

Unobservable

Inputs

Level 3
     
Total
  
Common stock warrants
      —         —         45      $ 45  
Preferred stock warrants
      —         —         67      $ 67  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
      —         —       $ 112      $ 112  
  
 
 
     
 
 
     
 
 
     
 
 
  
The following summarizes the fair value of our financial instruments as of December 31, 2023 (in thousands):
 
    
Quoted
Prices In
Active

Markets for

Identical

Assets

Level 1
     
Significant

Other

Observable

Inputs

Level 2
     
Significant

Unobservable

Inputs

Level 3
     
Total
  
Common stock warrants
      —         —         64      $ 64  
Preferred stock warrants
      —         —         99      $ 99  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
      —         —       $ 163      $ 163  
  
 
 
     
 
 
     
 
 
     
 
 
  
The following table shows the Company warrant activity for the years ended December 31, 2024 and 2023 (in thousands):
 
    
Common

Stock
warrants
     
Preferred

Stock
warrants
     
Total
  
Balance at December 31, 2022
      218        885        1,103  
Change in fair value
      (154 )       (346 )       (500 ) 
Exercises
      —         (359 )       (359 ) 
Cancellations
      —         (81 )       (81 ) 
Balance at December 31, 2023
      64        99        163  
Change in fair value
      (19 )       (32 )       (51 ) 
  
 
 
     
 
 
     
 
 
  
Balance at December 31, 2024
      45        67        112