Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Summary of the asset type, balance sheet classification, maturity, and fair value of marketable securities and investments


Assets	Balance Sheet Classification	Maturity	December 31, 2025		December 31, 2024
Commercial Paper	Marketable securities	Due in 1 year or less	$	62,166	$	47,046
Corporate Bonds	Marketable securities	Due in 1 year or less		122,941		28,614
Government Bonds	Marketable securities	Due in 1 year or less		39,053		—
U.S. Treasuries	Marketable securities	Due in 1 year or less		5,017		17,124
	Total Marketable securities		$	229,177	$	92,784


Corporate Bonds	Investments	Due in 1 year to 5 years	$	63,187	$	173,369
Government Bonds	Investments	Due in 1 year to 5 years		22,479		35,904
Equity Method Investment	Investments			1,331		1,127
	Total Investments		$	86,997	$	210,400

Schedule of financial assets and liabilities measured and recorded at fair value on a recurring basis


			December 31, 2025
			Level 1			Level 2			Level 3			Total
Assets	Balance Sheet Classification
Commercial paper	Marketable securities		$	62,167		$	—		$	—		$	62,167
Corporate bonds	Marketable securities		$	122,941		$	—		$	—		$	122,941
Government bonds	Marketable securities		$	39,053		$	—		$	—		$	39,053
U.S. treasuries	Marketable securities		$	5,017		$	—		$	—		$	5,017
Corporate bonds	Investments		$	63,187		$	—		$	—		$	63,187
Government bonds	Investments		$	22,479		$	—		$	—		$	22,479
Bifurcated embedded derivative	Loan receivable from equity method investee		$	—		$	—		$	584		$	584

Liabilities
Public Warrants	Warrant liabilities		$	9,911		$	—		$	—		$	9,911
Private Placement Warrants	Warrant liabilities		$	—		$	3,970		$	—		$	3,970


			December 31, 2024
			Level 1			Level 2			Level 3			Total
Assets	Balance Sheet Classification
Commercial paper	Marketable securities		$	47,046		$	—		$	—		$	47,046
Corporate bonds	Marketable securities		$	28,614		$	—		$	—		$	28,614
Corporate bonds	Investments		$	173,369		$	—		$	—		$	173,369
Government bonds	Investments		$	35,904		$	—		$	—		$	35,904
U.S. treasuries	Marketable securities		$	17,124		$	—		$	—		$	17,124
Bifurcated embedded derivative	Loan receivable from equity method investee			—			—			584			584

Liabilities
Public Warrants	Warrant liabilities		$	5,537		$	—		$	—		$	5,537
Private Placement Warrants	Warrant liabilities		$	—		$	3,198		$	—		$	3,198

Schedule of available-for-sale securities purchased

Schedule of Level 2 inputs used in the recurring valuation of the Private Placement Warrants


		December 31,
		2025			2024
Exercise price		$	11.50		$	11.50
Stock price		$	4.25		$	1.89
Volatility			114.5	%		124.8	%
Term (in years)			0.94			1.94
Risk-free rate			3.43	%		4.16	%

Schedule of reconciliation of warrants measured at fair value


	Public Warrants		Private Placement Warrants
	Level 1 Fair Value		Level 2 Fair Value
December 31, 2024	$	0.42	$	0.52
Change in fair value	$	0.29	$	0.22
December 31, 2025	$	0.71	$	0.74

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

For the Years Ended December 31,

Available-for-sale securities purchased

Solid Power, Inc. 10-K