Aeva (AEVA) 10-Q 13 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	AEVA TECHNOLOGIES, INC.
Entity Central Index Key	0001789029
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-39204
Entity Tax Identification Number	84-3080757
Entity Address, Address Line One	555 Ellis Street
Entity Address, City or Town	Mountain View
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94043
City Area Code	650
Local Phone Number	481-7070
Entity Common Stock, Shares Outstanding		223,445,507
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	AEVA
Title of 12(b) Security	Common stock, $0.0001 par value per share
Security Exchange Name	NYSE
Warrant [Member]
Document Information [Line Items]
Trading Symbol	AEVA.WS
Title of 12(b) Security	Warrants to purchase one share of common stock
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 40,550	$ 67,420
Marketable securities	193,141	256,392
Accounts receivable	769	2,887
Inventories	2,692	2,951
Other current assets	5,620	5,473
Total current assets	242,772	335,123
Operating lease right-of-use assets	7,770	7,402
Property, plant and equipment, net	11,199	9,720
Intangible assets, net	2,850	3,525
Other noncurrent assets	1,067	862
Total assets	265,658	356,632
Liabilities and stockholders' equity
Accounts payable	3,306	5,182
Accrued liabilities	2,772	9,063
Accrued employee costs	4,860	4,721
Lease liability, current portion	3,347	2,667
Other current liabilities	444	194
Total current liabilities	14,729	21,827
Lease liability, noncurrent portion	4,501	4,789
Warrant liability	22	90
Total liabilities	19,252	26,706
Commitments and contingencies (Note 12)
Convertible preferred stock $0.0001 par value; 10,000 shares authorized; no,shares issued and outstanding	0	0
Stockholders' Deficit
Common stock $0.0001 par value; 422,000 shares authorized; 223,167and 218,748 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	22	22
Additional paid-in capital	661,999	643,756
Accumulated other comprehensive loss	(981)	(3,585)
Accumulated deficit	(414,634)	(310,267)
Total stockholders' equity	246,406	329,926
Total liabilities and stockholders' equity	$ 265,658	$ 356,632

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	422,000,000	422,000,000
Common stock, shares issued	223,167,000	218,748,000
Common stock, shares outstanding	223,167,000	218,748,000
Convertible Preferred Stock [Member]
Temporary equity, par value per share	$ 0.0001	$ 0.0001
Temporary equity, shares authorized	10,000,000	10,000,000
Temporary equity, shares issued	0	0
Temporary equity, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue	$ 810	$ 1,374	$ 2,701	$ 4,004
Cost of revenue	2,525	2,765	7,715	5,131
Gross loss	(1,715)	(1,391)	(5,014)	(1,127)
Research and development expenses	23,787	26,123	76,306	77,376
General and administrative expenses	8,474	8,093	24,020	23,642
Selling and marketing expenses	1,520	2,195	5,603	5,415
Total operating expenses	33,781	36,411	105,929	106,433
Operating loss	(35,496)	(37,802)	(110,943)	(107,560)
Interest income	2,219	1,164	6,508	2,033
Other income, net	39	135	68	896
Loss before income taxes	(33,238)	(36,503)	(104,367)	(104,631)
Income tax provision	0	0	0	0
Net loss	(33,238)	(36,503)	(104,367)	(104,631)
Unrealized gain (loss) on available-for-sale securities	915	(752)	2,604	(4,157)
Total comprehensive loss	$ (32,323)	$ (37,255)	$ (101,763)	$ (108,788)
Net loss per share, Basic	$ (0.15)	$ (0.17)	$ (0.47)	$ (0.48)
Net loss per share, Diluted	$ (0.15)	$ (0.17)	$ (0.47)	$ (0.48)
Weighted average shares of common stock outstanding - Basic	222,825,819	217,888,470	221,003,348	216,937,433
Weighted-average shares used in computing net loss per share - diluted	222,825,819	217,888,470	221,003,348	216,937,433

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated other comprehensive loss	Accumulated Deficit [Member]
Beginning balance at Dec. 31, 2021	$ 456,376	$ 21	$ 619,841	$ (524)	$ (162,962)
Beginning balance, Shares at Dec. 31, 2021		214,997,014
Share-based compensation	5,784		5,784
Issuance of common stock upon exercise of stock options	186	$ 1	185
Issuance of common stock upon exercise of stock options, Shares		1,029,266
Issuance of common stock upon release of restricted stock units, Shares		671,621
Shares withheld for the withholding tax on vesting of restricted stock	(244)		(244)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(53,553)
Issuance of common stock upon exercise of warrants	1		1
Issuance of common stock upon exercise of warrants, shares		120
Unrealized gain (loss) on available-for-sale securities	(2,455)			(2,455)
Net loss	(33,157)				(33,157)
Ending balance at Mar. 31, 2022	426,491	$ 22	625,567	(2,979)	(196,119)
Ending balance, Shares at Mar. 31, 2022		216,644,468
Beginning balance at Dec. 31, 2021	456,376	$ 21	619,841	(524)	(162,962)
Beginning balance, Shares at Dec. 31, 2021		214,997,014
Unrealized gain (loss) on available-for-sale securities	(4,157)
Net loss	(104,631)
Ending balance at Sep. 30, 2022	365,528	$ 22	637,780	(4,681)	(267,593)
Ending balance, Shares at Sep. 30, 2022		218,152,618
Beginning balance at Mar. 31, 2022	426,491	$ 22	625,567	(2,979)	(196,119)
Beginning balance, Shares at Mar. 31, 2022		216,644,468
Share-based compensation	6,434		6,434
Issuance of common stock upon exercise of stock options	58		58
Issuance of common stock upon exercise of stock options, Shares		170,055
Issuance of common stock upon release of restricted stock units, Shares		458,399
Shares withheld for the withholding tax on vesting of restricted stock	(174)		(174)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(60,516)
Unrealized gain (loss) on available-for-sale securities	(950)			(950)
Net loss	(34,971)				(34,971)
Ending balance at Jun. 30, 2022	396,888	$ 22	631,885	(3,929)	(231,090)
Ending balance, Shares at Jun. 30, 2022		217,212,406
Share-based compensation	6,140		6,140
Issuance of common stock upon exercise of stock options	57		57
Issuance of common stock upon exercise of stock options, Shares		131,110
Issuance of common stock upon release of restricted stock units, Shares		929,585
Shares withheld for the withholding tax on vesting of restricted stock	(302)		(302)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(120,483)
Unrealized gain (loss) on available-for-sale securities	(752)			(752)
Net loss	(36,503)				(36,503)
Ending balance at Sep. 30, 2022	365,528	$ 22	637,780	(4,681)	(267,593)
Ending balance, Shares at Sep. 30, 2022		218,152,618
Beginning balance at Dec. 31, 2022	329,926	$ 22	643,756	(3,585)	(310,267)
Beginning balance, Shares at Dec. 31, 2022		218,748,423
Share-based compensation	5,963		5,963
Issuance of common stock upon exercise of stock options	57		57
Issuance of common stock upon exercise of stock options, Shares		236,642
Issuance of common stock upon release of restricted stock units, Shares		1,077,527
Shares withheld for the withholding tax on vesting of restricted stock	(19)		(19)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(12,497)
Unrealized gain (loss) on available-for-sale securities	1,212			1,212
Net loss	(35,174)				(35,174)
Ending balance at Mar. 31, 2023	301,965	$ 22	649,757	(2,373)	(345,441)
Ending balance, Shares at Mar. 31, 2023		220,050,095
Beginning balance at Dec. 31, 2022	$ 329,926	$ 22	643,756	(3,585)	(310,267)
Beginning balance, Shares at Dec. 31, 2022		218,748,423
Issuance of common stock upon exercise of stock options, Shares	458,565
Unrealized gain (loss) on available-for-sale securities	$ 2,604
Net loss	(104,367)
Ending balance at Sep. 30, 2023	246,406	$ 22	661,999	(981)	(414,634)
Ending balance, Shares at Sep. 30, 2023		223,167,115
Beginning balance at Mar. 31, 2023	301,965	$ 22	649,757	(2,373)	(345,441)
Beginning balance, Shares at Mar. 31, 2023		220,050,095
Share-based compensation	7,041		7,041
Issuance of common stock upon exercise of stock options	59		59
Issuance of common stock upon exercise of stock options, Shares		118,314
Issuance of common stock upon release of restricted stock units, Shares		723,472
Unrealized gain (loss) on available-for-sale securities	477			477
Net loss	(35,955)				(35,955)
Ending balance at Jun. 30, 2023	273,587	$ 22	656,857	(1,896)	(381,396)
Ending balance, Shares at Jun. 30, 2023		220,891,881
Share-based compensation	5,149		5,149
Issuance of common stock upon exercise of stock options	36		36
Issuance of common stock upon exercise of stock options, Shares		103,609
Issuance of common stock upon release of restricted stock units, Shares		2,227,418
Shares withheld for the withholding tax on vesting of restricted stock	(43)		(43)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(55,793)
Unrealized gain (loss) on available-for-sale securities	915			915
Net loss	(33,238)				(33,238)
Ending balance at Sep. 30, 2023	$ 246,406	$ 22	$ 661,999	$ (981)	$ (414,634)
Ending balance, Shares at Sep. 30, 2023		223,167,115

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (104,367)	$ (104,631)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,145	2,305
Inventory reserve	170	1,363
Change in fair value of warrant liability	(68)	(922)
Stock-based compensation	18,153	18,358
Amortization of right-of-use assets	2,278	2,147
Realized loss on available-for-sale securities	0	29
Amortization of premium and accretion of discount on available-for-sale securities, net	(2,102)	641
Changes in operating assets and liabilities:
Accounts receivable	2,118	(1,046)
Inventories	89	(580)
Other current assets	(147)	(615)
Other noncurrent assets	(204)	(4)
Accounts payable	(2,402)	1,751
Accrued liabilities	(6,291)	(456)
Accrued employee costs	139	1,283
Lease liability	(2,253)	(2,133)
Other current liabilities	250	(583)
Net cash used in operating activities	(91,492)	(83,093)
Cash flows from investing activities:
Purchase of property, plant and equipment	(3,423)	(5,967)
Purchase of available-for-sale securities	(97,642)	(143,730)
Proceeds from maturities of available-for-sale securities	165,597	284,176
Net cash provided by investing activities	64,532	134,479
Cash flows from financing activities:
Payments of taxes withheld on net settled vesting of restricted stock units	(62)	(613)
Proceeds from exercise of warrants	0	1
Proceeds from exercise of stock options	152	301
Net cash (used in) provided by financing activities	90	(311)
Net (decrease) increase in cash and cash equivalents	(26,870)	51,075
Beginning cash and cash equivalents	67,420	66,810
Ending cash and cash equivalents	40,550	117,885
Supplemental disclosures of cash flow information:
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Supplemental disclosures of non-cash investing and financing activities:
Purchases of property and equipment recorded in accounts payable and accrued liabilities	604	(97)
Taxes withheld on net settled vesting of restricted stock units	0	107
Right-of-use asset obtained in exchange for lease liability	$ 2,646	$ 0

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Description of Business Aeva Technologies, Inc. (the “Company”), through its Frequency Modulated Continuous Wave (“FMCW”) sensing technology, designs a 4D LiDAR-on-chip that, along with its proprietary software applications, has the potential to enable the adoption of LiDAR across broad applications from automated driving to consumer electronics, consumer health, industrial automation and security application. On March 12, 2021 (the “Closing Date”), Aeva, Inc. consummated a business combination (the “Business Combination”) with InterPrivate Acquisition Corp. (the Company’s predecessor, which was originally incorporated in Delaware as a special purpose acquisition company (“IPV”)) pursuant to the Business Combination Agreement dated as of November 2, 2020 (the “BCA”), by and among IPV, WLLY Merger Sub Corp., a wholly owned subsidiary of IPV, and Aeva, Inc. Immediately upon the consummation of the Business Combination, WLLY Merger Sub Corp. merged with and into Aeva, Inc., with Aeva, Inc. surviving the merger as a wholly owned subsidiary of IPV. IPV changed its name to Aeva Technologies, Inc. and the pre-combination Aeva retained its name of Aeva, Inc. Aeva, Inc. was incorporated in the State of Delaware on December 5, 2016 and is headquartered in Mountain View, California. Unless the context otherwise requires, “we,” “us,” “our,” “Aeva,” and the “Company” refers to Aeva Technologies Inc., the combined company and its subsidiaries following the Business Combination. Refer to Reverse Capitalization with IPV in Note 2 to the financial statements of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information relating to the BCA. The Company’s common stock and warrants are listed on the New York Stock Exchange stock market under the symbols “AEVA” and "AEVA.WS". Basis of Presentation and Unaudited Interim Financial Statements The condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. The accompanying condensed consolidated financial statements are unaudited and have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period. These condensed consolidated financial statements and other information presented in this Form 10-Q should be read in conjunction with the consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the SEC. Principles of Consolidation and Liquidity The condensed consolidated financial statements are prepared in accordance with U.S. GAAP. The condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company has funded its operations primarily through the Business Combination and issuances of stock. As of September 30, 2023, the Company’s existing sources of liquidity included cash and cash equivalents and marketable securities of $ 233.7 million. The Company has a limited history of operations and has incurred negative cash flows from operating activities and losses from operations in the past as reflected in the accumulated deficit of $ 414.6 million as of September 30, 2023. The Company expects to continue to incur operating losses due to the investments it intends to make in its business, including product development. Management believes that existing cash and cash equivalents and marketable securities will be sufficient to fund operating and capital expenditure requirements through at least 12 months from the date of issuance of these financial statements. Significant Risks and Un certainties The Company is subject to those risks common in the technology industry and also those risks common to early stage companies including, but not limited to, the possibility of not being able to successfully develop or market its products, technological obsolescence, competition, dependence on key personnel and key external alliances, the successful protection of its proprietary technologies, compliance with government regulations, and the possibility of not being able to obtain additional financing when needed. Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities, and trade receivables. The Company maintains the majority of its cash and cash equivalents in accounts with large financial institutions. At times, balances in these accounts may exceed federally insured limits; however, to date, the Company has not incurred any losses on its deposits of cash and cash equivalents and believes the exposure to risk of loss is not material. Risks associated with the Company’s marketable securities is mitigated by investing in investment-grade rated securities when purchased. The Company’s accounts receivable are derived from customers located in the United States, APAC, and Europe. The Company mitigates its credit risks by performing ongoing credit evaluations of its customers’ financial conditions and requires customer advance payments in certain circumstances. As of September 30, 2023, three customers accounted for 26 %, 25 % and 12 % of the accounts receivable, respectively. As of December 31, 2022, one customer accounted for 66 % of accounts receivable. As of September 30, 2023, two vendors accounted for 21 % and 10 % of the accounts payable, respectively. As of December 31, 2022, two vendors accounted for 10 % each of the accounts payable. Recent Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2021-08, “Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ” (“ASU 2021-08”), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured in accordance with ASC 606, Revenue from Contracts with Customers. ASU 2021-08 is effective for interim and annual periods beginning after December 15, 2022 on a prospective basis, with early adoption permitted. The adoption of ASU 2021-08 on January 1, 2023 did not have any impact on the Company’s condensed consolidated financial statements.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Note 2. Revenue Disaggregation of Revenues The Company disaggregates its revenue from contracts with customers by geographic region based on the primary billing address of the customer and timing of transfer of goods or services to customers (point-in-time or over time), as it believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. Total revenue for the three months ended September 30, 2023 and 2022, based on the disaggregation criteria described above were as follows (in thousands): Three Months Ended September 30, 2023 2022 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 445 55 % $ 1,119 81 % EMEA 168 21 % 233 17 % APAC 197 24 % 22 2 % Total $ 810 100 % $ 1,374 100 % Revenue by timing of recognition: Recognized at a point in time $ 810 100 % $ 625 45 % Recognized over time — 0 % 749 55 % Total $ 810 100 % $ 1,374 100 % Total revenue for the nine months ended September 30, 2023 and 2022, based on the disaggregation criteria described above are as follows (in thousands): Nine Months Ended September 30, 2023 2022 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 1,464 54 % $ 3,640 91 % EMEA 569 21 % 317 8 % APAC 668 25 % 47 1 % Total $ 2,701 100 % $ 4,004 100 % Revenue by timing of recognition: Recognized at a point in time $ 2,267 84 % $ 1,302 33 % Recognized over time 434 16 % 2,702 67 % Total $ 2,701 100 % $ 4,004 100 % For the three months ended September 30, 2023, two customers accounted for 40 % and 11 %of the Company’s revenue, respectively. For the three months ended September 30, 2022, one customer accounted for 55 % of the Company’s revenue. For the nine months ended September 30, 2023, two customers accounted for 27 % and 13 % of the Company’s revenue, respectively. For the nine months ended September 30, 2022, two customers accounted for 40 % and 27 % of the Company’s revenue, respectively. Contract Assets and Contract Liabilities As of September 30, 2023, and December 31, 2022, the Company had contract assets of $ 0.1 m illion and $ 0.2 million, respectively, recognized in other current assets. The Company had no contract liability as of September 30, 2023 and December 31, 2022.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Financial Instruments	Note 3. Financial Instruments The following tables summarize the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy: September 30, 2023 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 19,976 $ — $ — $ 19,976 $ 19,976 $ — Level 1 Money market funds 11,123 — — 11,123 11,123 — Level 2 U.S. agency securities 70,918 — ( 499 ) 70,419 — 70,419 U.S. Treasury securities 3,491 — ( 24 ) 3,467 1,991 1,476 Commercial paper 38,794 — ( 40 ) 38,754 7,460 31,294 Corporate bonds 90,370 — ( 418 ) 89,952 — 89,952 Subtotal 203,573 — ( 981 ) 202,592 9,451 193,141 Total assets $ 234,672 $ - $ ( 981 ) $ 233,691 $ 40,550 $ 193,141 Liabilities Level 3 Warrant liabilities $ 22 $ — $ — $ 22 $ — $ — Total liabilities $ 22 $ — $ — $ 22 $ — $ — December 31, 2022 Adjusted Cost Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 17,980 $ — $ 17,980 $ 17,980 $ — Level 1 Money market funds 44,443 — 44,443 44,443 — Level 2 U.S. agency securities 65,493 ( 1,518 ) 63,975 — 63,975 U.S. Treasury securities 14,953 ( 111 ) 14,842 — 14,842 Commercial paper 40,859 ( 100 ) 40,759 4,997 35,762 Corporate bonds 143,669 ( 1,856 ) 141,813 — 141,813 Subtotal 264,974 ( 3,585 ) 261,389 4,997 256,392 Total assets $ 327,397 $ ( 3,585 ) $ 323,812 $ 67,420 $ 256,392 Liabilities Level 3 Warrant liabilities $ 90 $ — $ 90 $ — $ — Total liabilities $ 90 $ — $ 90 $ — $ — The fair value of the private placement warrant liabilities is based on significant unobservable inputs, which represent Level 3 measurements within the fair value hierarchy. In determining the fair value of the warrant liabilities, the Company used the Black-Scholes option-pricing model to estimate the fair value using unobservable inputs including the expected term, expected volatility, risk-free interest rate, and dividend yield. The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments (in thousand): September 30, 2023 December 31, 2022 Fair value, beginning balance $ 90 $ 1,060 Change in the fair value included in other income, net ( 68 ) ( 970 ) Fair value, closing balance $ 22 $ 90 The key inputs into the Black-Scholes option pricing model for the private warrants were as follows for the relevant periods: September 30, 2023 December 31, 2022 Expected term (years) 2.4 3.2 Expected volatility 95.3 % 88.2 % Risk-free interest rate 4.92 % 4.22 % Dividend yield 0 % 0 % Exercise Price $ 11.50 $ 11.50

Acquisition and Intangible Asse

Acquisition and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisition and Intangible Assets	Note 4. Acquisition of Intangible Assets As of September 30, 2023, expected amortization expense relating to purchased intangible assets was as follows (in thousands): Remainder of 2023 $ 225 2024 900 2025 900 2026 825 Total future amortization $ 2,850 The Company recorded amortization expense related to t he acquired intangible assets of $ 0.2 million each for the three months ended September 30, 2023 and September 30, 2022, respectively, and $ 0.7 million each for the nine months ended September 30, 2023, and September 30, 2022, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following (in thousands): September 30, December 31, 2023 2022 Raw materials $ 2,357 $ 2,743 Work-in-progress 59 42 Finished goods 275 166 Total inventories $ 2,692 $ 2,951

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 6. Property, Plant and Equipment Property, plant and equipment consisted of the following (in thousands): September 30, December 31, 2023 2022 Computer equipment $ 2,443 $ 2,363 Lab equipment 6,388 5,055 Leasehold improvements 3,030 2,961 Construction in progress 1,083 1,488 Testing equipment 1,268 692 Manufacturing equipment 4,025 1,831 Furniture, fixtures and other equipment 567 535 Total property, plant and equipment $ 18,804 $ 14,925 Less: accumulated depreciation ( 7,605 ) ( 5,205 ) Total property, plant and equipment, net $ 11,199 $ 9,720 Depreciation related to property, plant, and equipment was $ 0.8 million and $ 0.6 million for the three months ended September 30, 2023 and September 30, 2022, respectively, and $ 2.5 million and $ 1.6 million for the nine months ended September 30, 2023, and September 30, 2022, respectively.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	Note 7. Other current assets Other current assets consisted of the following (in thousands): September 30, December 31, 2023 2022 Prepaid expenses $ 2,899 $ 2,343 Contract assets 111 247 Vendor deposits 806 1,398 Other current assets 1,804 1,485 Total other current assets $ 5,620 $ 5,473

Capital Structure

Capital Structure	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Capital Structure	Note 8. Capital Structure As of September 30, 2023, the Company was authorized to issue up to 422,000,000 shares of common stock, each with a par value of $ 0.0001 per share. Preferred Stock As of September 20, 2023, the Company was authorized to issue up to 10,000,000 shares of preferred stock, each with a par value of $ 0.0001 per share. As of September 30, 2023 and December 31, 2022, no shares of preferred stock were issued and outstanding. Warrants As of September 30, 2023, the Company had 12,074,880 public and 384,000 private warrants outstanding. Each warrant entitles the registered holder to purchase one share of common stock at a price of $ 11.50 per share.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 9. Earnings (Loss) Per Share The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss attributable to common stockholders $ ( 33,238 ) $ ( 36,503 ) $ ( 104,367 ) $ ( 104,631 ) Denominator: Weighted average shares of common stock outstanding — Basic 222,825,819 217,888,470 221,003,348 216,937,433 Dilutive effect of potential common stock — — — — Weighted average shares of common stock outstanding — Diluted 222,825,819 217,888,470 221,003,348 216,937,433 Net loss per share attributable to common stockholders — Basic and Diluted $ ( 0.15 ) $ ( 0.17 ) $ ( 0.47 ) $ ( 0.48 ) The following table presents the potential common shares outstanding that were excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been anti-dilutive: Nine Months Ended September 30, 2023 2022 Common stock options issued and outstanding 12,497,254 13,686,976 Restricted stock units 26,144,366 10,798,551 Performance-based restricted stock units 9,558,823 — Warrants 12,458,876 — Total 60,659,319 24,485,527

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Note 10. Stock-based Compensation Stock Options The Company maintains the 2016 Stock Incentive Plan and the 2021 Incentive Award Plan (the “Stock Plans”) under which incentive stock options, non-qualified stock options and restricted stock units ( “RSU” ) may be granted to employees. Under the Stock Plans, the Company has 10,334,897 shares available for issuance as of September 30, 2023. Under the terms of the Stock Plans, incentive stock options must have an exercise price at or above the fair market value of the stock on the date of the grant, while non-qualified stock options are permitted to be granted below fair market value of the stock on the date of grant. The majority of stock options granted have service-based vesting conditions only. The service-based vesting conditions vary, typically stock options vest over four years with 25 % of stock options vesting on the first anniversary of the grant and the remaining 75 % vesting monthly over the remaining 36 months. Option holders have a ten-year period to exercise the options before they expire. A summary of the Company’s stock option activity, for nine months ended September 30, 2023, was as follows: Number of Weighted- Weighted- Aggregate Outstanding as of December 31, 2022 13,434,083 $ 0.67 6.77 $ 11,593 Granted — — — — Exercised ( 458,565 ) 0.33 — — Forfeited ( 418,700 ) 2.99 — — Expired ( 59,564 ) 0.26 — — Outstanding as of September 30, 2023 12,497,254 $ 0.60 5.82 $ 4,151 Vested and exercisable as of September 30, 2023 11,528,748 $ 0.52 5.69 $ 4,034 Vested and expected to vest as of September 30, 2023 12,497,254 $ 0.60 5.82 $ 4,151 There were no options granted during the nine months ended September 30, 2023. As of September 30, 2023, the Company had $ 1.2 million of unrecognized stock-based compensation expense related to the stock options. This cost is expected to be recognized over a weighted-average period of 1.1 years. Restricted Stock Units and Performance-based Restricted Stock Units ( “PBRSU”) The following table summarizes our RSU activity for the nine months ended September 30, 2023: Shares Weighted Average Outstanding as of December 31, 2022 11,945,375 $ 5.22 Granted 23,022,625 1.28 Released ( 4,028,417 ) 4.36 Forfeited ( 4,795,217 ) 3.80 Outstanding as of September 30, 2023 26,144,366 $ 2.15 As of September 30, 2023, the Company had $ 47.7 million of unrecognized stock-based compensation expense related to the RSUs. This cost is expected to be recognized over a weighted-average period of 3.1 years. The above table excludes 9,558,823 PBRSUs granted to certain executive officers during nine months ended September 30, 2023. In May 2023, the Company granted a total of 5,882,353 PBRSUs to certain executives that vest on achieving certain operational milestones as defined in the individual grant agreements subject to continued employment through 2025. Stock-based compensation expense is recognized over the expected performance achievement period of individual performance milestones when the achievement of each individual performance milestone becomes probable. If satisfaction of the performance condition is not probable, stock-based compensation cost recognition is deferred until it becomes probable. The Company reassesses the probability as to whether satisfaction of the performance condition is prob able on a quarterly basis, and stock-based compensation cost is adjusted based on the portion of the requisite service provided. These PBRSUs neither carry rights to dividends nor voting rights until the shares are issued or transferred to the recipient. Awards are forfeited if an employee leaves the Company before the PBRSUs vest or the performance period lapses. The weighted-average grant date PBRSU fair value of $ 1.02 per share is determined based upon the market closing price of the Company’s common stock on the date of grant. As of September 30, 2023, the total unrecognized compensation expense related to the performance-based PBRSUs was $ 3.4 mi llion, which is expected to be amortized over a weighted-average period of 2.2 years. In May 2023, the Company also granted a total of 3,676,470 market-based PBRSUs to certain executives that vest over a multi-year period, upon continue service and when the volume-weighted average price per share (“WVAP Average”) of the Company’s common stock for the preceding 30 consecutive trading days equals or exceeds the target stock price for the indicated year. The Company recognizes stock-based compensation based upon the grant date fair value on an accelerated attribution basis over the requisite service period of the award. Provided that the requisite service is rendered, the total fair value of the market-based PBRSUs at the date of grant is recognized as compensation expense even if the market condition is not achieved. However, the number of shares that ultimately vest can vary significantly with the achievement of the specified market criteria. These PBRSUs neither carry rights to dividends nor voting rights until the shares are issued or transferred to the recipient. Awards are forfeited if an employee leaves the Company before the PBRSUs vest. The weighted-average grant date fair value of the market-based PBRSUs was $ 0.28 per share. The Company estimated the fair value of the market-based PBRSUs award on the grant date using the Monte Carlo simulation model with the following assumptions: September 30, 2023 Expected term (years) 0.5 - 4.7 Expected volatility 70.9 % Risk-free interest rate 3.29 % Dividend yield 0 % Share price $ 1.02 As of September 30, 2023, the total unrecognized compensation expense related to the market-based PBRSUs was $ 0.9 million, which is expected to be amortized over a weighted-average period of 3.5 years. Employee Stock Purchase Plan In November 2022, the Board and the Company’s stockholders adopted the 2022 Employee Stock Purchase Plan (“ESPP”) under which 12,769,233 shares w ere authorized for issuance. The ESPP permits eligible employees to purchase the Company’s common stock through payroll deduction with up to 15 % of their pre-tax earnings subject to certain Internal Revenue Code limitations. The purchase price of shares is 85 % of the lower of the fair market value of the Company’s common stock on the first day of a six-month offering period, or the relevant purchase date. In addition, participants are subject to $ 25,000 annual purchase restriction. No ESPP shares were purchased during the three and nine months ended September 30, 2023. Compensation expense Total stock-based compensation expense by function was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 161 $ 396 $ 858 $ 738 Research and development expenses 3,094 4,177 12,717 13,152 General and administrative expenses 1,654 1,263 3,989 3,767 Sales and marketing expenses 240 304 589 701 Total $ 5,149 $ 6,140 $ 18,153 $ 18,358

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes Components of Income (Loss) Before Taxes For financial reporting purposes, income (loss) before income taxes includes the following components (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Domestic $ ( 33,238 ) $ ( 36,503 ) $ ( 104,367 ) $ ( 104,631 ) Foreign — — — — Loss before income taxes $ ( 33,238 ) $ ( 36,503 ) $ ( 104,367 ) $ ( 104,631 ) There has historically been no federal or state provision for income taxes because the Company has historically incurred operating losses and maintains a full valuation allowance against its net deferred tax assets. For the nine months ended September 30, 2023 and 2022, the Company recognized no provision for income taxes. The federal and state net operating loss carryforwards may be subject to significant limitations under Section 382 and Section 383 of the Internal Revenue Code of 1986, as amended, and similar provisions under state law. The Tax Reform Act of 1986 contains provisions that limit the federal net operating loss carryforwards that may be used in any given year in the event of special occurrences, including significant ownership changes. The Company has completed an analysis as of December 31, 2022 and doesn’t expect any net operating loss carryforwards or tax credit carryforwards to expire due to a limitation.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Leases The weighted-average remaining lease terms were 2.4 years and 2.8 years as of September 30, 2023 and December 31, 2022, respectively. The weighted-average discount rates were 6.27 % and 5.25 % as of September 30, 2023 and December 31, 2022, respectively. Operating lease cost for three months ended September 30, 20 23 and 2022, was $ 0.9 million and $ 0.8 million, respectively. Operating lease cost for nine months ended September 30, 2023 and 2022, was $ 2.7 million and $ 2.5 million, respectively. The following is a maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating lease liabilities as of September 30, 2023 (in thousands): Operating Leases Remainder of 2023 $ 921 2024 3,757 2025 3,008 2026 728 Total minimum lease payments 8,414 Less: imputed interest ( 566 ) Total lease liability $ 7,848 Litigation From time to time, the Company is involved in actions, claims, suits, and other proceedings in the ordinary course of business, including assertions by third parties relating to intellectual property infringement, breaches of contract or warranties, or employment-related matters. When it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated, the Company records a liability for such loss contingencies. The Company’s estimates regarding potential losses and materiality are based on the Company’s judgment and assessment of the claims utilizing currently available information. Although the Company will continue to reassess its reserves and estimates based on future developments, the Company’s objective assessment of the legal merits of such claims may not always be predictive of the outcome and actual results may vary from the Company’s current estimates. Indemnifications In the ordinary course of business, the Company is not subject to potential obligations under guarantees that fall within the scope of FASB ASC Guarantees, (Topic 460), except for standard indemnification provisions that are contained within many of the Company’s customer agreements and give rise only to disclosure requirements prescribed by Topic 460. Indemnification provisions contained within the Company’s customer agreements are generally consistent with those prevalent in the Company’s industry. The Company has not incurred any obligations under customer indemnification provisions and does not expect to incur significant obligations in the future. Accordingly, the Company does not maintain accruals for potential customer indemnification obligations.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Note 13. Segment Information The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision-maker (“CODM”), consisting of the Company’s chief executive officer and the Company’s chief technology officer as a group, in deciding how to allocate resources and assess the Company’s financial and operational performance. In addition, the Company’s CODM evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis. As a result, the Company has determined that the Company’s business operates in a single operating segment. Since the Company operates as one operating segment, all required financial segment information can be found in the financial statements. Long-Lived Assets The following table set s forth the Company’s property and equipment, net by geographic region (in thousands): September 30, December 31, 2023 2022 North America $ 9,526 $ 8,236 APAC 1,641 1,379 EMEA 32 105 Total $ 11,199 $ 9,720

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events Common Stock Financing On November 8, 2023, the Company entered into Subscription Agreements (the “Subscription Agreements”) providing for the purchase of an aggregate of 36,802,299 shares (the “PIPE Shares”) of the Company’s common stock, $ 0.0001 par value per share (the “Common Stock”), at a price of $ 0.58 per PIPE Share (the “Purchase Price”) for an aggregate Purchase Price of $ 21.4 million (the “Private Placement”). Pursuant to the Subscription Agreements, entities affiliated with Sylebra Capital Limited (“Sylebra”) agreed to purchase 24,795,027 shares of Common Stock for a total purchase price of $ 14.4 million and Adage Capital Management ("Adage") agreed to purchase 12,007,272 shares of common stock for a total purchase price of $ 7 million. The closing of the Private Placement occurred on November 9, 2023. The Subscription Agreements include customary representations, warranties and covenants of the parties as well as customary registration rights. The Company expects to use the proceeds from the Private Placement for working capital and general corporate purposes. Standby Equity Purchase Agreement On November 8, 2023, the Company entered into a Standby Equity Purchase Agreement (the “Facility Agreement”) with entities affiliated with Sylebra. Pursuant to the Facility Agreement, the Company will have the right, but not the obligation, to sell to Sylebra up to $ 125,000,000 of its shares of preferred stock, subject to satisfaction of certain conditions, by November 8, 2026. Each sale the Company requests under the Facility Agreement (each, an “ Advance ” and collectively, the “ Advances ”) may be for a number of shares of preferred stock with an aggregate value of at least $ 25,000,000 but not more than $ 50,000,000 (except with Sylebra’s consent). When and if issued, the preferred stock will be issued at a price per share of $ 10,000 . Holders of the preferred stock will be entitled to a quarterly dividend at the rate of 7.0 % per annum payable in cash or in kind at the option of the Company. The preferred stock will have an initial liquidation preference of $ 12,000 per share, plus accrued dividends. The preferred stock will have no voting rights as a class or series except in such instances as required by Delaware law or certain matters enumerated in the facility agreement related to the protection of the preferred stock. The preferred stock will be convertible at the option of the holders into the number of shares of Common Stock equal to $ 10,000 divided by the then-applicable conversion price. At any time after the two year anniversary of any issuance of any series of preferred stock, the Company will have the option to convert all (but not less than all) of any series of then-outstanding preferred stock by paying a make-whole payment, in either stock or cash, equal to three years of dividends, provided that the closing price of the Common Stock exceeds 250 % of the then-applicable conversion price for at least 20 out of 30 consecutive trading days prior to the date of conversion. To the extent, if any, a conversion would result any the holder thereof becoming the beneficial owner of more than 19.9 % of the Company’s outstanding Common Stock, the Company will issue the Investor Pre-Funded Warrant in the form attached to the Facility Agreement. The preferred stock will be subject to customary pre-emptive rights. The Company’s right to request Advances is conditioned upon the Company achieving a minimum of one new passenger auto-OEM or commercial OEM program award with at least a 50,000 unit volume, the trading price of the Common Stock being below $ 3.00 at the time of the Advance request and other customary conditions. Prior to any Advance, the Company will assess its capital needs and other factors, including the impact of an Advance on the Company’s outstanding executive pledge arrangements. In relation to this financing, the Company has agreed to pay Sylebra a facility fee of $ 2,500,000 , an origination fee in the amount of $ 625,000 , an administrative fee in the amount of $ 312,500 and reasonable fees and expenses of Sylebra in an amount not to exceed $ 350,000 . In addition, upon receipt of stockholder approval, the Company will issue to Sylebra the Series A Warrant to purchase 15,000,000 shares of Common Stock at an exercise price of $ 1.00 . Registration Rights Agreement The Company has entered into a Registration Rights Agreement that provides for certain customary registration rights with respect to shares of the preferred stock, the Series A Warrant, the Pre-Funded Warrant and the shares of the Common Stock issued upon any future conversion thereof. Shareholder Agreement The Company entered into a Shareholder Agreement (the “ Shareholder Agreement ”) with Sylebra, whereby for as long as Sylebra and its affiliates beneficially own at least (i) 9% of the Common Stock (on an as converted basis), Sylebra will have the right to nominate one director, who will initially be Chris Eberle and (ii) 14% of the Common Stock (on an as converted basis), Sylebra will have the right to nominate an additional director, who shall be an automotive executive or relevant industry expert. Sylebra has waived its right to designate such additional director until the election of the Class I directors in 2025.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business	Description of Business Aeva Technologies, Inc. (the “Company”), through its Frequency Modulated Continuous Wave (“FMCW”) sensing technology, designs a 4D LiDAR-on-chip that, along with its proprietary software applications, has the potential to enable the adoption of LiDAR across broad applications from automated driving to consumer electronics, consumer health, industrial automation and security application. On March 12, 2021 (the “Closing Date”), Aeva, Inc. consummated a business combination (the “Business Combination”) with InterPrivate Acquisition Corp. (the Company’s predecessor, which was originally incorporated in Delaware as a special purpose acquisition company (“IPV”)) pursuant to the Business Combination Agreement dated as of November 2, 2020 (the “BCA”), by and among IPV, WLLY Merger Sub Corp., a wholly owned subsidiary of IPV, and Aeva, Inc. Immediately upon the consummation of the Business Combination, WLLY Merger Sub Corp. merged with and into Aeva, Inc., with Aeva, Inc. surviving the merger as a wholly owned subsidiary of IPV. IPV changed its name to Aeva Technologies, Inc. and the pre-combination Aeva retained its name of Aeva, Inc. Aeva, Inc. was incorporated in the State of Delaware on December 5, 2016 and is headquartered in Mountain View, California. Unless the context otherwise requires, “we,” “us,” “our,” “Aeva,” and the “Company” refers to Aeva Technologies Inc., the combined company and its subsidiaries following the Business Combination. Refer to Reverse Capitalization with IPV in Note 2 to the financial statements of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information relating to the BCA. The Company’s common stock and warrants are listed on the New York Stock Exchange stock market under the symbols “AEVA” and "AEVA.WS".
Basis of Presentation and Unaudited Interim Financial Statements	Basis of Presentation and Unaudited Interim Financial Statements The condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. The accompanying condensed consolidated financial statements are unaudited and have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period. These condensed consolidated financial statements and other information presented in this Form 10-Q should be read in conjunction with the consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the SEC.
Principles of Consolidation and Liquidity	Principles of Consolidation and Liquidity The condensed consolidated financial statements are prepared in accordance with U.S. GAAP. The condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company has funded its operations primarily through the Business Combination and issuances of stock. As of September 30, 2023, the Company’s existing sources of liquidity included cash and cash equivalents and marketable securities of $ 233.7 million. The Company has a limited history of operations and has incurred negative cash flows from operating activities and losses from operations in the past as reflected in the accumulated deficit of $ 414.6 million as of September 30, 2023. The Company expects to continue to incur operating losses due to the investments it intends to make in its business, including product development. Management believes that existing cash and cash equivalents and marketable securities will be sufficient to fund operating and capital expenditure requirements through at least 12 months from the date of issuance of these financial statements.
Significant Risks and Uncertainties	Significant Risks and Un certainties The Company is subject to those risks common in the technology industry and also those risks common to early stage companies including, but not limited to, the possibility of not being able to successfully develop or market its products, technological obsolescence, competition, dependence on key personnel and key external alliances, the successful protection of its proprietary technologies, compliance with government regulations, and the possibility of not being able to obtain additional financing when needed.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities, and trade receivables. The Company maintains the majority of its cash and cash equivalents in accounts with large financial institutions. At times, balances in these accounts may exceed federally insured limits; however, to date, the Company has not incurred any losses on its deposits of cash and cash equivalents and believes the exposure to risk of loss is not material. Risks associated with the Company’s marketable securities is mitigated by investing in investment-grade rated securities when purchased. The Company’s accounts receivable are derived from customers located in the United States, APAC, and Europe. The Company mitigates its credit risks by performing ongoing credit evaluations of its customers’ financial conditions and requires customer advance payments in certain circumstances. As of September 30, 2023, three customers accounted for 26 %, 25 % and 12 % of the accounts receivable, respectively. As of December 31, 2022, one customer accounted for 66 % of accounts receivable. As of September 30, 2023, two vendors accounted for 21 % and 10 % of the accounts payable, respectively. As of December 31, 2022, two vendors accounted for 10 % each of the accounts payable.
Recent Accounting Pronouncements	Recent Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2021-08, “Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ” (“ASU 2021-08”), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured in accordance with ASC 606, Revenue from Contracts with Customers. ASU 2021-08 is effective for interim and annual periods beginning after December 15, 2022 on a prospective basis, with early adoption permitted. The adoption of ASU 2021-08 on January 1, 2023 did not have any impact on the Company’s condensed consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenue by Geographic Region	Total revenue for the three months ended September 30, 2023 and 2022, based on the disaggregation criteria described above were as follows (in thousands): Three Months Ended September 30, 2023 2022 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 445 55 % $ 1,119 81 % EMEA 168 21 % 233 17 % APAC 197 24 % 22 2 % Total $ 810 100 % $ 1,374 100 % Revenue by timing of recognition: Recognized at a point in time $ 810 100 % $ 625 45 % Recognized over time — 0 % 749 55 % Total $ 810 100 % $ 1,374 100 % Total revenue for the nine months ended September 30, 2023 and 2022, based on the disaggregation criteria described above are as follows (in thousands): Nine Months Ended September 30, 2023 2022 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 1,464 54 % $ 3,640 91 % EMEA 569 21 % 317 8 % APAC 668 25 % 47 1 % Total $ 2,701 100 % $ 4,004 100 % Revenue by timing of recognition: Recognized at a point in time $ 2,267 84 % $ 1,302 33 % Recognized over time 434 16 % 2,702 67 % Total $ 2,701 100 % $ 4,004 100 %

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Financial assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables summarize the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy: September 30, 2023 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 19,976 $ — $ — $ 19,976 $ 19,976 $ — Level 1 Money market funds 11,123 — — 11,123 11,123 — Level 2 U.S. agency securities 70,918 — ( 499 ) 70,419 — 70,419 U.S. Treasury securities 3,491 — ( 24 ) 3,467 1,991 1,476 Commercial paper 38,794 — ( 40 ) 38,754 7,460 31,294 Corporate bonds 90,370 — ( 418 ) 89,952 — 89,952 Subtotal 203,573 — ( 981 ) 202,592 9,451 193,141 Total assets $ 234,672 $ - $ ( 981 ) $ 233,691 $ 40,550 $ 193,141 Liabilities Level 3 Warrant liabilities $ 22 $ — $ — $ 22 $ — $ — Total liabilities $ 22 $ — $ — $ 22 $ — $ — December 31, 2022 Adjusted Cost Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 17,980 $ — $ 17,980 $ 17,980 $ — Level 1 Money market funds 44,443 — 44,443 44,443 — Level 2 U.S. agency securities 65,493 ( 1,518 ) 63,975 — 63,975 U.S. Treasury securities 14,953 ( 111 ) 14,842 — 14,842 Commercial paper 40,859 ( 100 ) 40,759 4,997 35,762 Corporate bonds 143,669 ( 1,856 ) 141,813 — 141,813 Subtotal 264,974 ( 3,585 ) 261,389 4,997 256,392 Total assets $ 327,397 $ ( 3,585 ) $ 323,812 $ 67,420 $ 256,392 Liabilities Level 3 Warrant liabilities $ 90 $ — $ 90 $ — $ — Total liabilities $ 90 $ — $ 90 $ — $ —
Summary of Changes in Fair Value of Level 3 Financial Instruments	The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments (in thousand): September 30, 2023 December 31, 2022 Fair value, beginning balance $ 90 $ 1,060 Change in the fair value included in other income, net ( 68 ) ( 970 ) Fair value, closing balance $ 22 $ 90
Schedule of Black-Scholes Option Pricing Model For Private Warrants	The key inputs into the Black-Scholes option pricing model for the private warrants were as follows for the relevant periods: September 30, 2023 December 31, 2022 Expected term (years) 2.4 3.2 Expected volatility 95.3 % 88.2 % Risk-free interest rate 4.92 % 4.22 % Dividend yield 0 % 0 % Exercise Price $ 11.50 $ 11.50

Acquisition and Intangible As_2

Acquisition and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of expected amortization expense relating to purchased intangible assets	As of September 30, 2023, expected amortization expense relating to purchased intangible assets was as follows (in thousands): Remainder of 2023 $ 225 2024 900 2025 900 2026 825 Total future amortization $ 2,850

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): September 30, December 31, 2023 2022 Raw materials $ 2,357 $ 2,743 Work-in-progress 59 42 Finished goods 275 166 Total inventories $ 2,692 $ 2,951

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consisted of the following (in thousands): September 30, December 31, 2023 2022 Computer equipment $ 2,443 $ 2,363 Lab equipment 6,388 5,055 Leasehold improvements 3,030 2,961 Construction in progress 1,083 1,488 Testing equipment 1,268 692 Manufacturing equipment 4,025 1,831 Furniture, fixtures and other equipment 567 535 Total property, plant and equipment $ 18,804 $ 14,925 Less: accumulated depreciation ( 7,605 ) ( 5,205 ) Total property, plant and equipment, net $ 11,199 $ 9,720

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following (in thousands): September 30, December 31, 2023 2022 Prepaid expenses $ 2,899 $ 2,343 Contract assets 111 247 Vendor deposits 806 1,398 Other current assets 1,804 1,485 Total other current assets $ 5,620 $ 5,473

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss attributable to common stockholders $ ( 33,238 ) $ ( 36,503 ) $ ( 104,367 ) $ ( 104,631 ) Denominator: Weighted average shares of common stock outstanding — Basic 222,825,819 217,888,470 221,003,348 216,937,433 Dilutive effect of potential common stock — — — — Weighted average shares of common stock outstanding — Diluted 222,825,819 217,888,470 221,003,348 216,937,433 Net loss per share attributable to common stockholders — Basic and Diluted $ ( 0.15 ) $ ( 0.17 ) $ ( 0.47 ) $ ( 0.48 )
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	The following table presents the potential common shares outstanding that were excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been anti-dilutive: Nine Months Ended September 30, 2023 2022 Common stock options issued and outstanding 12,497,254 13,686,976 Restricted stock units 26,144,366 10,798,551 Performance-based restricted stock units 9,558,823 — Warrants 12,458,876 — Total 60,659,319 24,485,527

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Schedule of Stock Options Activity	A summary of the Company’s stock option activity, for nine months ended September 30, 2023, was as follows: Number of Weighted- Weighted- Aggregate Outstanding as of December 31, 2022 13,434,083 $ 0.67 6.77 $ 11,593 Granted — — — — Exercised ( 458,565 ) 0.33 — — Forfeited ( 418,700 ) 2.99 — — Expired ( 59,564 ) 0.26 — — Outstanding as of September 30, 2023 12,497,254 $ 0.60 5.82 $ 4,151 Vested and exercisable as of September 30, 2023 11,528,748 $ 0.52 5.69 $ 4,034 Vested and expected to vest as of September 30, 2023 12,497,254 $ 0.60 5.82 $ 4,151 There were no options granted during the nine months ended September 30, 2023.
Schedule of Restricted Stock Activity	The following table summarizes our RSU activity for the nine months ended September 30, 2023: Shares Weighted Average Outstanding as of December 31, 2022 11,945,375 $ 5.22 Granted 23,022,625 1.28 Released ( 4,028,417 ) 4.36 Forfeited ( 4,795,217 ) 3.80 Outstanding as of September 30, 2023 26,144,366 $ 2.15
Schedule of Fair Value Weighted-Average Assumptions	The Company estimated the fair value of the market-based PBRSUs award on the grant date using the Monte Carlo simulation model with the following assumptions: September 30, 2023 Expected term (years) 0.5 - 4.7 Expected volatility 70.9 % Risk-free interest rate 3.29 % Dividend yield 0 % Share price $ 1.02
Summary of Stock-Based Compensation Expense	Total stock-based compensation expense by function was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 161 $ 396 $ 858 $ 738 Research and development expenses 3,094 4,177 12,717 13,152 General and administrative expenses 1,654 1,263 3,989 3,767 Sales and marketing expenses 240 304 589 701 Total $ 5,149 $ 6,140 $ 18,153 $ 18,358

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Income before Income Taxes	For financial reporting purposes, income (loss) before income taxes includes the following components (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Domestic $ ( 33,238 ) $ ( 36,503 ) $ ( 104,367 ) $ ( 104,631 ) Foreign — — — — Loss before income taxes $ ( 33,238 ) $ ( 36,503 ) $ ( 104,367 ) $ ( 104,631 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Maturity Analysis of the Annual Undiscounted Cash Flows of Operating Lease Liabilities	The following is a maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating lease liabilities as of September 30, 2023 (in thousands): Operating Leases Remainder of 2023 $ 921 2024 3,757 2025 3,008 2026 728 Total minimum lease payments 8,414 Less: imputed interest ( 566 ) Total lease liability $ 7,848

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Geographic Areas, Long-Lived Assets [Abstract]
Schedule of Property and Equipment by Geographic Region	The following table set s forth the Company’s property and equipment, net by geographic region (in thousands): September 30, December 31, 2023 2022 North America $ 9,526 $ 8,236 APAC 1,641 1,379 EMEA 32 105 Total $ 11,199 $ 9,720

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Common stock, par value	$ 0.0001	$ 0.0001
Intangible assets	$ 2,850	$ 3,525
Cash and cash equivalents	40,550	67,420
Accumulated deficit	$ 414,634	310,267
Number of months required to fund operating and capital expenditure	12 months
Accounts receivable	$ 769	2,887
Operating lease right-of-use assets	7,770	$ 7,402
Operating lease liabilities	7,848
Money Market Funds [Member]
Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 233,700
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member]
Significant Accounting Policies [Line Items]
Number of customer accounted for accounts receivable	three customers
Concentration risk, percentage	25%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member]
Significant Accounting Policies [Line Items]
Number of customer accounted for accounts receivable		one customer
Concentration risk, percentage	26%	66%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customers Three [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage	12%
Credit Concentration Risk [Member] | Accounts Payable [Member] | Two Vendors [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage	10%	10%
Number of vendors accounted for accounts payable	two vendors	two vendors
Credit Concentration Risk [Member] | Accounts Payable [Member] | One Vendor [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage	21%

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregated Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation Of Revenue [Line Items]
Revenue	$ 810	$ 1,374	$ 2,701	$ 4,004
% of Revenue	100%	100%	100%	100%
Recognized at a point in time [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 810	$ 625	$ 2,267	$ 1,302
% of Revenue	100%	45%	84%	33%
Recognized over time [Member]
Disaggregation Of Revenue [Line Items]
Revenue		$ 749	$ 434	$ 2,702
% of Revenue	0%	55%	16%	67%
North America [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 445	$ 1,119	$ 1,464	$ 3,640
% of Revenue	55%	81%	54%	91%
Europe [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 168	$ 233	$ 569	$ 317
% of Revenue	21%	17%	21%	8%
Asia [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 197	$ 22	$ 668	$ 47
% of Revenue	24%	2%	25%	1%

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) Customer	Sep. 30, 2022 Customer	Sep. 30, 2023 USD ($) Customer	Sep. 30, 2022 Customer	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Contract assets	$ 111		$ 111		$ 247
Customer Concentration Risk [Member] | Revenue [Member]
Disaggregation of Revenue [Line Items]
Number Of customers meeting concentration risk threshold | Customer	2	1	2	2
Customer Concentration Risk [Member] | Revenue [Member] | Customer One [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	40%	55%	27%	40%
Customer Concentration Risk [Member] | Revenue [Member] | Customer Two [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	11%		13%	27%
Other current assets [Member]
Disaggregation of Revenue [Line Items]
Contract assets	$ 100		$ 100		200
Other current liabilities [Member]
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 0		$ 0		$ 0

Financial Instruments - Summary

Financial Instruments - Summary of Financial assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Available-for-sale [Abstract]
Cash	$ 19,976	$ 17,980
Adjusted Cost	234,672	327,397
Unrealized Losses	(981)	(3,585)
Fair Value	233,691	323,812
Cash and cash equivalents	40,550	67,420
Marketable Securities	193,141	256,392
Warrant liabilities	22	90
Total liabilities	22	90
Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	203,573	264,974
Unrealized Losses	(981)	(3,585)
Fair Value	202,592	261,389
Cash and cash equivalents	9,451	4,997
Marketable Securities	193,141	256,392
Fair Value, Inputs, Level 3 [Member] | Warrant Liabilities [Member]
Available-for-sale [Abstract]
Warrant liabilities	22	90
Total liabilities	22	90
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale [Abstract]
Adjusted Cost	11,123	44,443
Fair Value	11,123	44,443
Cash and cash equivalents	11,123	44,443
U.S. agency securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	70,918	65,493
Unrealized Losses	(499)	(1,518)
Fair Value	70,419	63,975
Marketable Securities	70,419	63,975
U.S. Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	3,491	14,953
Unrealized Losses	(24)	(111)
Fair Value	3,467	14,842
Cash and cash equivalents	1,991
Marketable Securities	1,476	14,842
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	38,794	40,859
Unrealized Losses	(40)	(100)
Fair Value	38,754	40,759
Cash and cash equivalents	7,460	4,997
Marketable Securities	31,294	35,762
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	90,370	143,669
Unrealized Losses	(418)	(1,856)
Fair Value	89,952	141,813
Marketable Securities	$ 89,952	$ 141,813

Financial Instruments - Summa_2

Financial Instruments - Summary of Changes in Fair Value of Level 3 Financial Instruments (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Beginning Balance	$ 90	$ 1,060
Change in the fair value included in other income (expense), net	(68)	(970)
Fair Value, Ending Balance	$ 22	$ 90

Financial Instruments - Schedul

Financial Instruments - Schedule of Black-Scholes Option Pricing Model For Private Warrants (Details)	Sep. 30, 2023	Dec. 31, 2022
Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	2.4	3.2
Expected Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	95.3	88.2
Risk-free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	4.92	4.22
Dividend Yield [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0	0
Exercise Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	11.5	11.5

Acquisition and Intangible As_3

Acquisition and Intangible Assets (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 0.2	$ 0.2	$ 0.7	$ 0.7

Acquisition and Intangible As_4

Acquisition and Intangible Assets - Schedule of expected amortization expense relating to purchased intangible assets (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 225
2024	900
2025	900
2026	825
Total future amortization	$ 2,850

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 2,357	$ 2,743
Work-in-progress	59	42
Finished goods	275	166
Total inventory	$ 2,692	$ 2,951

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 18,804	$ 14,925
Less: accumulated depreciation	(7,605)	(5,205)
Total property, plant and equipment, net	11,199	9,720
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	2,443	2,363
Lab Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	6,388	5,055
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	3,030	2,961
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	1,083	1,488
Testing Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	1,268	692
Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	4,025	1,831
Furniture, Fixtures and Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 567	$ 535

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 0.8	$ 0.6	$ 2.5	$ 1.6

Other Current Assets - Schedule

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 2,899	$ 2,343
Contract assets	111	247
Vendor deposits	806	1,398
Other current assets	1,804	1,485
Total other current assets	$ 5,620	$ 5,473

Other Current Liabilities - Sc

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities, Current [Abstract]
Total other current liabilities	$ 444	$ 194

Capital Structure - Additional

Capital Structure - Additional Information (Details) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Common stock, shares authorized	422,000,000	422,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Pre-combination Aeva preferred stock outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Public Warrants [Member]
Class Of Stock [Line Items]
Common Stock, Par or Stated Value Per Share	$ 11.5
Class of Warrant or Right, Outstanding	12,074,880
Private Warrants [Member]
Class Of Stock [Line Items]
Common Stock, Par or Stated Value Per Share	$ 11.5
Class of Warrant or Right, Outstanding	384,000

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss attributable to common stockholders	$ (33,238)	$ (36,503)	$ (104,367)	$ (104,631)
Denominator:
Weighted average shares of common stock outstanding - Basic	222,825,819	217,888,470	221,003,348	216,937,433
Dilutive effect of potential common stock	0	0	0	0
Weighted average shares of common stock outstanding - Diluted	222,825,819	217,888,470	221,003,348	216,937,433
Net loss per share, Basic	$ (0.15)	$ (0.17)	$ (0.47)	$ (0.48)
Net loss per share, Diluted	$ (0.15)	$ (0.17)	$ (0.47)	$ (0.48)

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	60,659,319	24,485,527
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	12,497,254	13,686,976
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	26,144,366	10,798,551
Restricted Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	9,558,823	0
Warrant [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	12,458,876	0

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($)	1 Months Ended	9 Months Ended
	May 31, 2023	Sep. 30, 2023	Nov. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
First 12 Months [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of stock options vesting		25%
Remaining 36 Months [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of stock options vesting		75%
2016 Stock Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock, Authorized		10,334,897
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 1,200,000
Unrecognized stock-based compensation expense, weighted average recognition period		1 year 1 month 6 days
Number of Options, Granted		0
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 47,700,000
Restricted stock units, vesting period		3 years 1 month 6 days
Performance-Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 3,400,000
Unrecognized stock-based compensation expense, weighted average recognition period		2 years 2 months 12 days
Weighted-average grant date fair value		$ 1.02
Number of Options, Granted	5,882,353	9,558,823
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock, Authorized			12,769,233
Purchase price of share is lower then fair value market		85%
Annual purchase restriction		$ 25,000
Shares issued		0
Employee Stock Purchase Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase of common stock through payroll deduction		15%
Market-based PBRSU [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense, weighted average recognition period		3 years 6 months
Unrecognized stock-based compensation expense related to the restricted stock		$ 900,000
Weighted-average grant date fair value		$ 0.28
Number of Options, Granted		3,676,470

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Options, Outstanding, Beginning as of December 31, 2022 | shares	13,434,083
Number of Options, Exercised | shares	(458,565)
Number of Options, Forfeited | shares	(418,700)
Number of Options, Expired | shares	(59,564)
Number of Options, Outstanding, Ending At September 30, 2023 | shares	12,497,254	13,434,083
Number of Options, Vested and exercisable as of September 30, 2023 | shares	11,528,748
Number of Options, Vested and expected to vest as of September 30, 2023 | shares	12,497,254
Weighted- Average Exercise Price, Outstanding, Beginning as of December 31, 2022 | $ / shares	$ 0.67
Weighted- Average Exercise Price, Exercised | $ / shares	0.33
Weighted- Average Exercise Price, Forfeited | $ / shares	2.99
Weighted- Average Exercise Price, Expired | $ / shares	0.26
Weighted- Average Exercise Price, Outstanding, Ending as of September 30, 2023 | $ / shares	0.6	$ 0.67
Weighted- Average Exercise Price, Vested and exercisable as of September 30, 2023 | $ / shares	0.52
Weighted- Average Exercise Price, Vested and expected to vest as of September 30, 2023 | $ / shares	$ 0.6
Weighted-Average Remaining Contractual Life (Years), Outstanding	5 years 9 months 25 days	6 years 9 months 7 days
Weighted-Average Remaining Contractual Life (Years), Vested and exercisable as of September 30, 2023	5 years 8 months 8 days
Weighted-Average Remaining Contractual Life (Years), Vested and expected to vestas of September 30, 2023	5 years 9 months 25 days
Aggregate Intrinsic Value, Outstanding | $	$ 4,151	$ 11,593
Aggregate Intrinsic Value, Vested and exercisable as of September 30, 2023 | $	4,034
Aggregate Intrinsic Value, Vested and expected to vest as of September 30, 2023 | $	$ 4,151

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Restricted Stock Activity (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning as of December 31, 2022	13,434,083
Number of Options, Outstanding, Ending At September 30, 2023	12,497,254
Performance-Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning as of December 31, 2022	11,945,375
Shares, Granted	23,022,625
Shares, Released	(4,028,417)
Shares, Forfeited	(4,795,217)
Number of Options, Outstanding, Ending At September 30, 2023	26,144,366
Weighted Average Graint Date Fair Value per Share, Outstanding, Beginningas of December 31, 2022 | $ / shares	$ 5.22
Weighted Average Graint Date Fair Value per Share, Granted | $ / shares	1.28
Weighted Average Grant Date Fair Value per Share, Released | $ / shares	4.36
Weighted Average Graint Date Fair Value per Share, Forfeited | $ / shares	3.8
Weighted Average Graint Date Fair Value per Share, Outstanding, Ending as of September 30, 2023 | $ / shares	$ 2.15

Stock-based Compensation - Sc_3

Stock-based Compensation - Schedule of Fair Value Weighted-Average Assumptions (Details) - Market-based PBRSU [Member]	9 Months Ended
	Sep. 30, 2023 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	70.90%
Risk-free interest rate	3.29%
Dividend yield	0%
Share price	$ 1.02
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 months
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	4 years 8 months 12 days

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 5,149	$ 6,140	$ 18,153	$ 18,358
Cost of Revenue [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	161	396	858	738
Research and Development Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	3,094	4,177	12,717	13,152
General and Administrative Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,654	1,263	3,989	3,767
Sales and Marketing Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 240	$ 304	$ 589	$ 701

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (33,238)	$ (36,503)	$ (104,367)	$ (104,631)
Foreign	0	0	0	0
Loss before income taxes	$ (33,238)	$ (36,503)	$ (104,367)	$ (104,631)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Federal provision for income taxes			$ 0	$ 0
State provision for income taxes	$ 0	$ 0
Provision for income taxes	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Loss Contingencies [Line Items]
Weighted average discount rate	6.27%		6.27%		5.25%
Operating lease cost	$ 0.9	$ 0.8	$ 2.7	$ 2.5
Weighted-average remaining lease term	2 years 4 months 24 days		2 years 4 months 24 days		2 years 9 months 18 days

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Maturity Analysis of the Annual Undiscounted Cash Flows of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2023	$ 921
2024	3,757
2025	3,008
2026	728
Total minimum lease payments	8,414
Less: imputed interest	(566)
Total lease liability	$ 7,848

Segment Information - Additiona

Segment Information - Additional Information (Details) - Segment	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Entity Wide Revenue Major Customer [Line Items]
Number of Operating Segments			1
Customer Concentration Risk [Member] | Revenue [Member] | Customer One [Member]
Entity Wide Revenue Major Customer [Line Items]
Concentration risk, percentage	40%	55%	27%	40%
Customer Concentration Risk [Member] | Revenue [Member] | Customer Two [Member]
Entity Wide Revenue Major Customer [Line Items]
Concentration risk, percentage	11%		13%	27%

Segment Information - Schedule

Segment Information - Schedule of Long-Lived Assets, by Geographical Areas (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 11,199	$ 9,720
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	9,526	8,236
APAC [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1,641	1,379
EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 32	$ 105

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details)		9 Months Ended
	Nov. 08, 2023 USD ($) Segment $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Subsequent Event [Line Items]
Common Stock, Shares, Issued | shares		223,167,000	218,748,000
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.0001	$ 0.0001
Common Stock, Value, Issued		$ 22,000	$ 22,000
Preferred Stock, Par or Stated Value Per Share | $ / shares		$ 0.0001	$ 0.0001
Common Stock [Member] | Sylebra [Member]
Subsequent Event [Line Items]
Common stock, conversion basis		(i) 9% of the Common Stock (on an as converted basis), Sylebra will have the right to nominate one director, who will initially be Chris Eberle and (ii) 14% of the Common Stock (on an as converted basis), Sylebra will have the right to nominate an additional director, who shall be an automotive executive or relevant industry expert.
Subsequent Event [Member]
Subsequent Event [Line Items]
Program Award 1 | Segment	50,000
Facility Fees	$ 2,500,000
Origination Fee	625,000
Administrative Fees Expense	$ 312,500
Subsequent Event [Member] | Pipe Share [Member]
Subsequent Event [Line Items]
Share Price | $ / shares	$ 0.58
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Common Stock, Value, Issued	$ 10,000
Price of the Common Stock Exceeds	250%
Percentage Of Common Stock Outstanding	19.90%
Trading price of the Common Stock	$ 3,000
Warrants issued to purchase shares of common stock | shares	15,000,000
Warrants issued to purchase shares of common stock, Exercise price | $ / shares	$ 1
Subsequent Event [Member] | Common Stock [Member] | Pipe Share [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued | shares	36,802,299
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.0001
Proceeds from issuance of common stock	$ 21,400,000
Subsequent Event [Member] | Common Stock [Member] | Sylebra [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued | shares	24,795,027
Proceeds from issuance of common stock	$ 14,400,000
Subsequent Event [Member] | Common Stock [Member] | Adage [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued | shares	12,007,272
Proceeds from issuance of common stock	$ 7,000,000
Subsequent Event [Member] | Preferred Stock [Member]
Subsequent Event [Line Items]
Preferred stock, sale of stock, aggregate value	$ 125,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 10,000
Percentage of Dividend payble per Annum	7%
Preferred Stock, Liquidation Preference Per Share | $ / shares	$ 12,000
Subsequent Event [Member] | Maximum [Member]
Subsequent Event [Line Items]
Debt Instrument, Convertible, Threshold Trading Days | Segment	30
Reasonable Fees and Expenses	$ 350,000
Subsequent Event [Member] | Maximum [Member] | Preferred Stock [Member] | Sylebra [Member]
Subsequent Event [Line Items]
Preferred stock, sale of stock, aggregate value	$ 25,000,000
Subsequent Event [Member] | Minimum [Member]
Subsequent Event [Line Items]
Debt Instrument, Convertible, Threshold Trading Days | Segment	20
Subsequent Event [Member] | Minimum [Member] | Preferred Stock [Member] | Sylebra [Member]
Subsequent Event [Line Items]
Preferred stock, sale of stock, aggregate value	$ 50,000,000