Aeva (AEVA) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Registrant Name	AEVA TECHNOLOGIES, INC.
Entity Central Index Key	0001789029
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 Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		53,882,801
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, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 30,462	$ 38,547
Marketable securities	104,355	182,481
Accounts receivable	575	628
Inventories	2,125	2,374
Other current assets	7,752	5,195
Total current assets	145,269	229,225
Operating lease right-of-use assets	4,713	7,289
Property, plant and equipment, net	11,389	12,114
Intangible assets, net	1,950	2,625
Other noncurrent assets	5,815	6,132
Total assets	169,136	257,385
Liabilities and stockholders' equity
Accounts payable	3,010	3,602
Accrued liabilities	4,632	2,648
Accrued employee costs	4,456	6,043
Lease liability, current portion	3,385	3,587
Other current liabilities	18,132	2,524
Total current liabilities	33,615	18,404
Lease liability, noncurrent portion	1,306	3,767
Warrant liability	4,955	6,772
Total liabilities	39,876	28,943
Commitments and contingencies (Note 15)
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; 53,832 and 52,389 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	6	5
Additional paid-in capital	704,853	688,124
Accumulated other comprehensive income (loss)	116	(87)
Accumulated deficit	(575,715)	(459,600)
Total stockholders' equity	129,260	228,442
Total liabilities and stockholders' equity	$ 169,136	$ 257,385

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	422,000,000	422,000,000
Common stock, shares issued	53,832,000	52,389,000
Common stock, shares outstanding	53,832,000	52,389,000
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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue	$ 2,250	$ 810	$ 6,369	$ 2,701
Cost of revenue	2,971	2,525	9,330	7,715
Gross loss	(721)	(1,715)	(2,961)	(5,014)
Research and development expenses	27,116	23,787	78,324	76,306
General and administrative expenses	8,456	8,474	25,530	24,020
Selling and marketing expenses	1,583	1,520	5,818	5,603
Litigation settlement, net	0	0	11,500	0
Total operating expenses	37,155	33,781	121,172	105,929
Operating loss	(37,876)	(35,496)	(124,133)	(110,943)
Interest income	1,770	2,219	6,327	6,508
Other income, net	(1,268)	39	1,836	68
Loss before income taxes	(37,374)	(33,238)	(115,970)	(104,367)
Income tax provision	22	0	145	0
Net loss	(37,396)	(33,238)	(116,115)	(104,367)
Unrealized gain (loss) on available-for-sale securities	352	915	203	2,604
Total comprehensive loss	$ (37,044)	$ (32,323)	$ (115,912)	$ (101,763)
Net loss per share, Basic	$ (0.7)	$ (0.75)	$ (2.18)	$ (2.36)
Net loss per share, Diluted	$ (0.7)	$ (0.75)	$ (2.18)	$ (2.36)
Weighted-average shares used in computing net loss per share - Basic	53,704,039	44,565,164	53,149,318	44,200,670
Weighted-average shares used in computing net loss per share - diluted	53,704,039	44,565,164	53,149,318	44,200,670

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($) $ in Thousands	Total	Common stock warrants	Additional Paid-in Capital [Member]	Accumulated other comprehensive loss	Accumulated Deficit [Member]
Beginning balance at Dec. 31, 2022	$ 329,926	$ 4	$ 643,774	$ (3,585)	$ (310,267)
Beginning balance, Shares at Dec. 31, 2022		43,749,685
Share-based compensation	5,963		5,963	0	0
Issuance of common stock upon exercise of stock options	57		57	0	0
Issuance of common stock upon exercise of stock options, Shares		47,328
Issuance of common stock upon release of restricted stock units, Shares		215,505
Shares withheld for the withholding tax on vesting of restricted stock	(20)		(20)	0	0
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(2,499)
Unrealized gain (loss) on available-for-sale securities	1,212			1,212	0
Net Income (Loss)	(35,174)				(35,174)
Ending balance at Mar. 31, 2023	301,964	$ 4	649,774	(2,373)	(345,441)
Ending balance, Shares at Mar. 31, 2023		44,010,019
Beginning balance at Dec. 31, 2022	329,926	$ 4	643,774	(3,585)	(310,267)
Beginning balance, Shares at Dec. 31, 2022		43,749,685
Unrealized gain (loss) on available-for-sale securities	2,604
Net Income (Loss)	(104,367)
Ending balance at Sep. 30, 2023	246,405	$ 4	662,016	(981)	(414,634)
Ending balance, Shares at Sep. 30, 2023		44,633,423
Beginning balance at Mar. 31, 2023	301,964	$ 4	649,774	(2,373)	(345,441)
Beginning balance, Shares at Mar. 31, 2023		44,010,019
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		23,663
Issuance of common stock upon release of restricted stock units, Shares		144,694
Unrealized gain (loss) on available-for-sale securities	477			477
Net Income (Loss)	(35,955)				(35,955)
Ending balance at Jun. 30, 2023	273,586	$ 4	656,874	(1,896)	(381,396)
Ending balance, Shares at Jun. 30, 2023		44,178,376
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		20,722
Issuance of common stock upon release of restricted stock units, Shares		445,484
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		(11,159)
Unrealized gain (loss) on available-for-sale securities	915			915
Net Income (Loss)	(33,238)				(33,238)
Ending balance at Sep. 30, 2023	246,405	$ 4	662,016	(981)	(414,634)
Ending balance, Shares at Sep. 30, 2023		44,633,423
Beginning balance at Dec. 31, 2023	228,442	$ 5	688,124	(87)	(459,600)
Beginning balance, Shares at Dec. 31, 2023		52,388,961
Share-based compensation	5,261		5,261
Issuance of common stock upon exercise of stock options	39		39
Issuance of common stock upon exercise of stock options, Shares		28,227
Issuance of common stock upon release of restricted stock units, Shares		423,869
Shares withheld for the withholding tax on vesting of restricted stock	(55)		(55)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(25,286)
Unrealized gain (loss) on available-for-sale securities	(161)			(161)
Net Income (Loss)	(35,326)				(35,326)
Ending balance at Mar. 31, 2024	198,200	$ 5	693,369	(248)	(494,926)
Ending balance, Shares at Mar. 31, 2024		52,815,771
Beginning balance at Dec. 31, 2023	$ 228,442	$ 5	688,124	(87)	(459,600)
Beginning balance, Shares at Dec. 31, 2023		52,388,961
Issuance of common stock upon exercise of stock options, Shares	42,249
Unrealized gain (loss) on available-for-sale securities	$ 203
Net Income (Loss)	(116,115)
Ending balance at Sep. 30, 2024	129,260	$ 6	704,853	116	(575,715)
Ending balance, Shares at Sep. 30, 2024		53,832,057
Beginning balance at Mar. 31, 2024	198,200	$ 5	693,369	(248)	(494,926)
Beginning balance, Shares at Mar. 31, 2024		52,815,771
Share-based compensation	5,364		5,364
Issuance of common stock upon exercise of stock options	15		15
Issuance of common stock upon exercise of stock options, Shares		5,682
Issuance of common stock upon release of restricted stock units, Shares		411,670
Shares withheld for the withholding tax on vesting of restricted stock	(238)		(238)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(56,463)
Unrealized gain (loss) on available-for-sale securities	12			12	0
Net Income (Loss)	(43,393)				(43,393)
Ending balance at Jun. 30, 2024	159,960	$ 5	698,510	(236)	(538,319)
Ending balance, Shares at Jun. 30, 2024		53,176,660
Share-based compensation	6,505		6,505
Issuance of common stock upon exercise of stock options	23	$ 1	22
Issuance of common stock upon exercise of stock options, Shares		8,340
Issuance of common stock upon release of restricted stock units, Shares		710,300
Shares withheld for the withholding tax on vesting of restricted stock	(184)		(184)
Shares withheld for the withholding tax on vesting of restricted stock, Shares		(63,243)
Unrealized gain (loss) on available-for-sale securities	352			352
Net Income (Loss)	(37,396)				(37,396)
Ending balance at Sep. 30, 2024	$ 129,260	$ 6	$ 704,853	$ 116	$ (575,715)
Ending balance, Shares at Sep. 30, 2024		53,832,057

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (116,115)	$ (104,367)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,042	3,145
Impairment of inventories	883	170
Change in fair value of warrant liability	(1,817)	(68)
Stock-based compensation	17,130	18,153
Amortization of right-of-use assets	2,576	2,278
Amortization of premium and accretion of discount on available-for-sale securities, net	(2,932)	(2,102)
Other	298	0
Changes in operating assets and liabilities:
Accounts receivable	53	2,118
Inventories	(634)	89
Other current assets	(2,557)	(147)
Other noncurrent assets	317	(204)
Accounts payable	(563)	(2,402)
Accrued liabilities	1,985	(6,291)
Accrued employee costs	(1,626)	139
Lease liability	(2,663)	(2,253)
Other current liabilities	15,608	250
Net cash used in operating activities	(86,015)	(91,492)
Cash flows from investing activities:
Purchase of property, plant and equipment	(2,969)	(3,423)
Purchase of available-for-sale securities	(62,848)	(97,642)
Proceeds from maturities of available-for-sale securities	144,108	165,597
Net cash provided by investing activities	78,291	64,532
Cash flows from financing activities:
Payments of taxes withheld on net settled vesting of restricted stock units	(438)	(62)
Proceeds from exercise of stock options	77	152
Net cash (used in) provided by financing activities	(361)	90
Net decrease in cash and cash equivalents	(8,085)	(26,870)
Beginning cash and cash equivalents	38,547	67,420
Ending cash and cash equivalents	30,462	40,550
Supplemental disclosures of cash flow information:
Cash paid for interest	0	0
Cash paid for income taxes	(116)	0
Supplemental disclosures of non-cash investing and financing activities:
Unpaid property, plant and equipment purchases	61	604
Right-of-use assets obtained in exchange for lease liability	0	2,646
Taxes withheld on net settled vesting of restricted stock units	$ 39	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (37,396)	$ (43,393)	$ (35,326)	$ (33,238)	$ (35,955)	$ (35,174)	$ (116,115)	$ (104,367)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
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. 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, 2023 filed with the SEC. On March 18, 2024, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-5 reverse stock split (the “Reverse Stock Split”) of the Company’s shares of common stock, $0.0001 par value (the “common stock”). Pursuant to the Reverse Stock Split, every five (5) shares of issued and outstanding shares of common stock were combined into one (1) share of common stock. Accordingly, unless indicated otherwise, all the current period and historical per share data, number of shares issued and outstanding, stock awards, and other common stock equivalents for the periods presented in this Interim Report on Form 10-Q have been adjusted retroactively, where applicable, to reflect the Reverse Stock Split. There was no change to the shares authorized or in the par value per share of common stock of $ 0.0001 . The Reverse Stock Split affected all stockholders uniformly and did not alter any stockholder’s percentage interest in the Company’s equity. The Company did not issue fractional shares in connection with the Reverse Stock Split. Stockholders who were otherwise entitled to fractional shares of common stock were instead entitled to receive a proportional cash payment. The number of shares of common stock issuable under the Company's equity incentive plans and exercisable under the outstanding warrants were also proportionately adjusted. 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 (the “Business Combination”) with InterPrivate Acquisition Corp. (the Company’s predecessor, which was originally incorporated in Delaware as a special purpose acquisition company (“IPV”)) on March 12, 2021, and issuances of stock. As of September 30, 2024, the Company’s existing sources of liquidity included cash and cash equivalents and marketable securities of $ 134.8 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 $ 575.7 million as of September 30, 2024. 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, marketable securities, and the Standby Equity Purchase Agreement (the "Facility Agreement," Note 10) will be sufficient to fund operating and capital expenditure requirements through at least 12 months from the date of issuance of these condensed consolidated financial statements. Significant Risks and Uncertainties 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 North America, Asia, 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. The Company generally does not require collateral. As of September 30, 2024, five customers accounted for 23 %, 17 %, 12 %, 11 %, and 11 % of accounts receivable, respectively. As of December 31, 2023, one customer accounted for 42 % of accounts receivable. As of September 30, 2024, two vendors accounted for 17 % and 13 % of the accounts payable, respectively. As of December 31, 2023, three vendors accounted for 12 %, 11 %, and 11 % each of the accounts payable, respectively. Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for our annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on the condensed consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topics 740): Improvements to Income Tax Disclosures" to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for our annual periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on the condensed consolidated financial statements and related disclosures.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023, based on the disaggregation criteria described above were as follows (in thousands): Three Months Ended September 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 1,886 84 % $ 445 55 % Europe 78 3 % 168 21 % Asia 286 13 % 197 24 % Total $ 2,250 100 % $ 810 100 % Revenue by timing of recognition: Recognized at a point in time $ 1,395 62 % $ 810 100 % Recognized over time 855 38 % - 0 % Total $ 2,250 100 % $ 810 100 % Total revenue for the nine months ended September 30, 2024 and 2023, based on the disaggregation criteria described above are as follows (in thousands): Nine Months Ended September 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 5,511 87 % $ 1,464 54 % Europe 347 5 % 569 21 % Asia 511 8 % 668 25 % Total $ 6,369 100 % $ 2,701 100 % Revenue by timing of recognition: Recognized at a point in time $ 4,503 71 % $ 2,267 84 % Recognized over time 1,866 29 % 434 16 % Total $ 6,369 100 % $ 2,701 100 % The revenue recognized at a point in time was related to product revenue and revenue recognized over time was from non-recurring engineering services. For the three months ended September 30, 2024, one customer accounted for 67 % of the Company’s revenue. For the three months ended September 30, 2023, two customers accounted for 40 % and 11 % of the Company’s revenue, respectively. For the nine months ended September 30, 2024, two customers accounted for 60 % and 19 % of the Company’s revenue, respectively. For the nine months ended September 30, 2023, two customers accounted for 27 % and 13 % of the Company’s revenue, respectively. Contract Assets and Contract Liabilities As of December 31, 2023, the Company had contract assets of $ 0.1 million recognized in other current assets. The Company had no contract assets as of September 30, 2024. As of September 30, 2024, and December 31, 2023, the Company had contract liabilities of $ 3.1 million and $ 2.1 million, respectively, included in other current liabilities.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2024
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, 2024 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 18,586 $ — $ — $ 18,586 $ 18,586 $ — Level 1 Money market funds 492 — — 492 492 — Level 2 U.S. agency securities 13,802 23 — 13,825 — 13,825 U.S. Treasury securities 26,229 14 — 26,243 11,384 14,859 Commercial paper 20,240 25 — 20,265 — 20,265 Corporate bonds 55,352 65 ( 11 ) 55,406 — 55,406 Subtotal 115,623 127 ( 11 ) 115,739 11,384 104,355 Total assets $ 134,701 $ 127 $ ( 11 ) $ 134,817 $ 30,462 $ 104,355 Liabilities Level 3 Warrant liabilities $ — $ — $ — $ 4,955 $ — $ — Total liabilities $ — $ — $ — $ 4,955 $ — $ — December 31, 2023 Adjusted Cost Unrealized Gain Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 21,799 $ — $ — $ 21,799 $ 21,799 $ — Level 1 Money market funds 6,266 — — 6,266 6,266 — Level 2 U.S. agency securities 35,962 8 ( 97 ) 35,873 — 35,873 U.S. Treasury securities 18,323 1 ( 14 ) 18,310 10,482 7,828 Commercial paper 38,491 25 ( 16 ) 38,500 — 38,500 Corporate bonds 100,274 136 ( 130 ) 100,280 — 100,280 Subtotal 193,050 170 ( 257 ) 192,963 10,482 182,481 Total assets $ 221,115 $ 170 $ ( 257 ) $ 221,028 $ 38,547 $ 182,481 Liabilities Level 3 Warrant liabilities $ — $ — $ — $ 6,772 $ — $ — Total liabilities $ — $ — $ 6,772 $ — $ — The fair value of the private placement and Series A 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 thousands): September 30, 2024 December 31, 2023 Fair value, beginning balance $ 6,772 $ 90 Fair value at issuance of Series A Warrants — 6,450 Change in the fair value of Series A warrants included in other income (expense), net ( 1,799 ) 300 Change in the fair value of private placement warrants included in other income (expense), net ( 18 ) ( 68 ) Fair value, closing balance $ 4,955 $ 6,772 The key inputs into the Black-Scholes option pricing model for the private placement warrants were as follows for the relevant periods: September 30, 2024 December 31, 2023 Expected term (years) 1.4 2.2 Expected volatility 87.6 % 94.1 % Risk-free interest rate 3.82 % 4.23 % Dividend yield 0 % 0 % Exercise Price $ 57.50 $ 57.50 The key inputs into the Black-Scholes option pricing model for the Series A warrants were as follows for the relevant periods: September 30, 2024 December 31, 2023 Expected term (years) 3.2 4.0 Expected volatility 87.6 % 87.2 % Risk-free interest rate 3.55 % 3.89 % Dividend yield 0 % 0 % Exercise Price $ 5.00 $ 5.00

Acquisition and Intangible Asse

Acquisition and Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisition of Intangible Assets	Note 4. Acquisition of Intangible Assets As of September 30, 2024, expected amortization expense relating to purchased intangible assets was as follows (in thousands): Remainder of 2024 $ 225 2025 900 2026 825 Total future amortization $ 1,950

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following (in thousands): September 30, December 31, 2024 2023 Raw materials $ 1,416 $ 2,178 Work-in-progress 142 136 Finished goods 567 60 Total inventories $ 2,125 $ 2,374

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Computer equipment $ 3,023 $ 2,795 Lab equipment 8,270 7,151 Leasehold improvements 3,362 3,148 Construction in progress 347 1,434 Testing equipment 1,956 1,455 Manufacturing equipment 5,825 4,269 Furniture, fixtures and other equipment 560 458 Total property, plant and equipment $ 23,343 $ 20,710 Less: accumulated depreciation ( 11,954 ) ( 8,596 ) Total property, plant and equipment, net $ 11,389 $ 12,114 Depreciation related to property, plant, and equipment was $ 1.1 million and $ 0.8 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and $ 3.4 million and $ 2.5 million for the nine months ended September 30, 2024, and September 30, 2023, respectively.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Prepaid expenses $ 2,536 $ 2,228 Contract assets — 140 Vendor deposits 1,436 1,104 Other current assets 3,780 1,723 Total other current assets $ 7,752 $ 5,195

Other non-current assets

Other non-current assets	9 Months Ended
	Sep. 30, 2024
Other Assets, Noncurrent [Abstract]
Other Non-Current Assets	Note 8. Other non-current assets Other non-current assets consist of the following (in thousands): September 30, December 31, 2024 2023 Non marketable equity investments $ 5,000 $ 5,000 Security deposit 815 $ 1,116 Other non-current assets — 16 Total other non-current assets $ 5,815 $ 6,132 In Novem ber 2023, the Company made an investment in 700,440 shares of preferred stock of a private company for a cash consideration of $ 5.0 mill ion, which is classified as non-marketable equity investment. The Company’s investment in the private company represents less than 1 % of total capitalization. The Company neither has significant influence over the private company nor does the investment amount to a controlling financial interest in the private company. The Company elected to apply the measurement alternative, and as such, records the investment at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes in orderly transactions. During the period ended September 30, 2024, the Company did not identify any impairment or observable price changes for this non-marketable equity investment.

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Sep. 30, 2024
Other Liabilities, Current [Abstract]
Other Current Liabilities	Note 9. Other current liabilities Other current liabilities consisted of the following (in thousands): September 30, December 31, 2024 2023 Litigation settlement $ 14,000 $ — Other current liabilities 4,132 2,524 Total other current liabilities $ 18,132 $ 2,524

Financing transaction

Financing transaction	9 Months Ended
	Sep. 30, 2024
Warrants and Rights Note Disclosure [Abstract]
Financing transaction	Note 10. Financing transaction Private Investment On No vember 8, 2023, the Company entered into Subscription Agreements (the “Subscription Agreements”) with entities affiliated with Sylebra Capital Limited (“Sylebra”) and Adage Capital Management, providing for the purchase of an aggregate of 7,360,460 shares of the Company’s common stock, $ 0.0001 par value per share (the “PIPE Shares”), at a price of $ 2.90 per PIPE Share for an aggregate purchase price of approximately $ 21.4 million (the “Private Placement”). The PIPE Shares are recorded as outstanding common stock. Standby Equity Purchase Agreement On November 8, 2023, the Company also entered into a Standby Equity Purchase Agreement (as amended from time to time, the “Facility Agreement”) with entities affiliated with Sylebra, pursuant to which the Company will have the right, but not the obligation to sell to Sylebra up to $ 125 million of its shares of convertible redeemable non-voting 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 $ 25.0 million but not more than $ 50.0 million (except with Sylebra’s consent). When a nd 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 prefe rred 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 in the holder thereof becoming the beneficial owner of more than 19.9 % of the Company’s outstanding common stock, the Company will issue to such holder a 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-original equipmen t manufac turer (“OEM”) or commercial OEM program award with at least a 50,000 unit volume , the trading price of the common stock being below $ 15 at the time of the Advance request and other customary conditions. Any preferred stock issued in connection with the Facility Agreement will rank senior to common stock upon the Company’s liquidation, dissolution or winding up. Any such preferred stock will be entitled to priority cumulative dividends which shall accrue daily from and after the original issue date of such preferred stock and shall compound on a quarterly basis on each dividend payment date. The accrued dividends shall in all cases be payable upon liquidation. The Company shall pay dividends on each share of preferred stock in cash or in kind through issuance of shares of common stock with an aggregate value equal to the amount of the dividend to have been paid divided by the dividend conversion price. The board of directors of the Company may at its sole discretion elect to pay the dividends in cash in lieu of shares of common stock. The preferred stock has no voting rights unless it is converted into shares of common stock. Additionally, upon the occurrence of a change of control, the holders of preferred stock shall be entitled to receive in full a liquidating purchase in cash and in the amount per share of the preferred stock equal to the sum of (i) the liquidation preference plus (ii) accrued dividends with respect to such shares of preferred stock. In connection with this financing, the Company also paid the entities affiliated with Sylebra, (a) a facility fee in the amount of $ 2.5 million, (b) an o rigination fee in t he amount of $ 0.6 million, (c) an administrative fee in the amount of $ 0.3 million and (d) fees and expenses of Sylebra and its counsel, of approximately $ 0.4 million. The issuance costs related to the Facility Agreement were expensed as incurred as it failed to meet the equity classification guidance under ASC 815-40, and were deemed to be a derivative asset. The fair value of the derivative asset was not material as of and for the period ended September 30, 2024. In addition, upo n receipt of stockholder approval in December 2023, the Company issued to Sylebra 3,000,000 Series A Warrants to purchase shares of common stock at an exercise price of $ 5.00 . The Company analyzed the Series A Warrants and determined that they are freestanding and do not exhibit any of the characteristics within ASC 480, and as such do not meet the characteristics of a liability under ASC 480. However, Series A Warrants do not meet all requirements for equity classification under ASC 815, and therefore are classified as a liability on the Company’s consolidated balance sheets. As of September 30, 2024, the Company had 3,000,000 Series A Warrants outstanding. The Series A Warrants were issued as consideration for entering into the Facility Agreement as discussed above. Each Series A Warrant is currently exercisable and expires in December 2027. Holders shall not have the right to exercise the Series A Warrants to the extent such person would beneficially own in excess of 19.9 % of the Company’s outstanding common stock immediately after giving effect to such exercise. The exercise p rice and number of shares of common stock issuable upon exercise of the Series A Warrants may be adjusted in certain circumstances including in the event of a stock dividend or split, subsequent rights offerings, pro rata purchases, merger, reorganization, recapitalization, or spin-off. However, the Series A Warrants will not be adjusted for issuances of shares of common stock at a price below their respective exercise prices. The Series A Warrants do not entitle the holders to any voting rights, dividends or other rights as a stockholder of the Company prior to being exercised for common stock.

Capital Structure

Capital Structure	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Capital Structure	Note 11. Capital Structure As of September 30, 2024, 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 The Company is 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, 2024 and December 31, 2023, no shares of preferred stock were issued and outstanding. Warrants As of September 30, 2024, the Company had 2,414,976 public and 76,800 private warrants outstanding. Each public and private warrant entitles the registered holder to purchase one share of common stock at a price of $ 57.50 per share. Additionally, the Company also issued 3,000,000 Series A Warrants in connection with the Facility Agreement. Each Series A Warrants entitles the registered holder to purchase one share of common stock at an exercise price of $ 5.00 per share.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 12. 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, 2024 2023 2024 2023 Numerator: Net loss attributable to common stockholders $ ( 37,396 ) $ ( 33,238 ) ( 116,115 ) ( 104,367 ) Denominator: Weighted average shares of common stock outstanding — Basic 53,704,039 44,565,164 53,149,318 44,200,670 Dilutive effect of potential common stock — — — — Weighted average shares of common stock outstanding — Diluted 53,704,039 44,565,164 53,149,318 44,200,670 Net loss per share attributable to common stockholders — Basic and Diluted $ ( 0.70 ) $ ( 0.75 ) $ ( 2.18 ) $ ( 2.36 ) 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, 2024 2023 Common stock options issued and outstanding 2,372,083 2,499,451 Restricted stock units 6,615,696 5,228,873 Performance-based restricted stock units 1,911,765 1,911,765 Common stock warrants 2,491,775 2,491,775 Series A warrants 3,000,000 — Total 16,391,319 12,131,864

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Note 13. 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 1,399,324 shares available for issuance as of September 30, 2024. 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; however, 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 the nine months ended September 30, 2024, was as follows: Number of Weighted- Weighted- Aggregate Outstanding as of December 31, 2023 2,414,730 $ 2.79 5.73 $ 4,004 Exercised ( 42,249 ) 1.78 — — Forfeited ( 398 ) 2.74 — — Outstanding as of September 30, 2024 2,372,083 $ 2.81 5.01 $ 2,810 Vested and exercisable as of September 30, 2024 2,323,091 $ 2.56 4.96 $ 2,810 Vested and expected to vest as of September 30, 2024 2,372,083 $ 2.81 5.01 $ 2,810 There were no options granted during the nine months ended September 30, 2024. As of September 30, 2024, the Company had $ 0.3 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 1.2 years. Restricted Stock Units and Performance-based Restricted Stock Units ( “PBRSUs”) In May 2023, the Company granted a total of 1,176,471 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 $ 5.10 per share is determined based upon the market closing price of the Company’s com mon stock on the date of grant. As of September 30, 2024, the total unrecognized compensation expense related to the performance-based PBRSUs was $ 1.9 million, which is expected to be amortized over a weighted-average period of 1.3 years. In May 2023, the Company also granted a total of 735,294 market-based PBRSUs to certain executives that vest over a multi-year period, upon continued service and wh en the volume-weighted average price per share (“VWAP 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 $ 1.40 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: Expected term (years) 0.5 - 4.7 Expected volatility 70.9 % Risk-free interest rate 3.29 % Dividend yield 0 % Share price $ 5.10 As of September 30, 2024, the total unrecognized com pensation expense related to the market-based PBRSUs was $ 0.6 million, which is expected to be amortized over a weighted-average period of 2.6 years. The following table summarizes the Company's RSU activity for the nine months ended September 30, 2024: Shares Weighted Average Outstanding as of December 31, 2023 5,204,177 $ 9.65 Granted 4,061,272 3.53 Released ( 1,545,839 ) 10.96 Forfeited ( 1,103,914 ) 7.53 Outstanding as of September 30, 2024 6,615,696 $ 5.93 As of September 30, 2024, the Company had $ 33.0 million of unrecognized stock-based compensation expense related to the RSUs. This cost is expected to be recognized over a weighted-average period of 2.7 years. The above table excludes 1,911,765 PBRSUs granted to certain executive officers during the year ended December 31, 2023, and outstanding as of the nine months ended September 30, 2024. Compensation expense Total stock-based compensation expense by function was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenue $ 42 $ 161 $ 208 $ 858 Research and development expenses 4,261 3,094 12,439 12,717 General and administrative expenses 1,983 1,654 3,803 3,989 Selling and marketing expenses 219 240 680 589 Total $ 6,505 $ 5,149 $ 17,130 $ 18,153

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes 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, 2024, the Company recognized a $ 0.1 million provision for income taxes related to foreign operations. 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 does not 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, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15. Commitments and Contingencies Leases The weighted-average remaining lease terms were 1.4 years and 2.0 years as of September 30, 2024 and December 31, 2023, respectively. The weighted-average discount rate was 6.04 % as of both September 30, 2024 and December 31, 2023. Operating lease cost for the three months ended September 30, 2024, and 2023, was $ 1.1 million and $ 0.9 million, respectively. Operating lease cost for the nine months ended September 30, 2024, and 2023, was $ 3.2 million and $ 2.7 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, 2024 (in thousands): Operating Leases Remainder of 2024 $ 1,000 2025 3,157 2026 728 Total minimum lease payments 4,885 Less: imputed interest ( 194 ) Total lease liability $ 4,691 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. Litigation – other matters On March 7, 2024, a putative class action lawsuit was filed in the Court of Chancery of the State of Delaware against InterPrivate Acquisition Management LLC, InterPrivate LLC, and former directors and officers of IPV. The lawsuit is captioned Louis Smith v. Ahmed M. Fattouh, et al., (Del. Ch. 2024). On June 3, 2024, a second putative class action lawsuit was filed in the Court of Chancery of the State of Delaware against IPV and Soroush Salehian and Mina Rezk (collectively, the “Delaware Stockholder Litigation”). Among other remedies, the complaints seek damages and attorneys’ fees and costs. In connection with the Business Combination, the Company agreed to assume certain indemnification obligations to IPV’s former directors and officers. On July 2, 2024, the Company and the parties to the Delaware Stockholder Litigation entered into a term sheet, which is being memorialized into a formal settlement agreement and which will be subject to court approval, to fully and finally resolve the Delaware Stockholder Litigation. In connection with the settlement, the Company has agreed to pay a total settlement cost of $ 14.0 million in exchange for a release of all claims related to the business combination and expects to recover $ 2.5 million from insurance carrier. The settlement is being paid pursuant to the Company’s indemnification obligations and from available director and officer insurance policies. As of September 30, 2024, the Company has accrued a contingent liability of $ 14.0 million in other current liabilities on the accompanying condensed consolidated balance sheets in connection with the settlement of the Delaware Stockholder Litigation, and a $ 2.5 million insurance recovery in other current assets on the accompanying condensed consolidated balance sheets. The Company has also incurred legal expenses in connection with the Delaware Stockholder Litigation, which have been expensed as incurred and are included in general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive loss. 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, 2024
Segment Reporting [Abstract]
Segment Information	Note 16. 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 condensed consolidated financial statements. Long-Lived Assets The following table set s forth the Company’s property, plant, and equipment, net by geographic region (in thousands): September 30, December 31, 2024 2023 North America $ 7,228 $ 8,675 Asia 4,161 3,439 Total $ 11,389 $ 12,114

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
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. 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, 2023 filed with the SEC. On March 18, 2024, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-5 reverse stock split (the “Reverse Stock Split”) of the Company’s shares of common stock, $0.0001 par value (the “common stock”). Pursuant to the Reverse Stock Split, every five (5) shares of issued and outstanding shares of common stock were combined into one (1) share of common stock. Accordingly, unless indicated otherwise, all the current period and historical per share data, number of shares issued and outstanding, stock awards, and other common stock equivalents for the periods presented in this Interim Report on Form 10-Q have been adjusted retroactively, where applicable, to reflect the Reverse Stock Split. There was no change to the shares authorized or in the par value per share of common stock of $ 0.0001 . The Reverse Stock Split affected all stockholders uniformly and did not alter any stockholder’s percentage interest in the Company’s equity. The Company did not issue fractional shares in connection with the Reverse Stock Split. Stockholders who were otherwise entitled to fractional shares of common stock were instead entitled to receive a proportional cash payment. The number of shares of common stock issuable under the Company's equity incentive plans and exercisable under the outstanding warrants were also proportionately adjusted.
Principal 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 (the “Business Combination”) with InterPrivate Acquisition Corp. (the Company’s predecessor, which was originally incorporated in Delaware as a special purpose acquisition company (“IPV”)) on March 12, 2021, and issuances of stock. As of September 30, 2024, the Company’s existing sources of liquidity included cash and cash equivalents and marketable securities of $ 134.8 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 $ 575.7 million as of September 30, 2024. 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, marketable securities, and the Standby Equity Purchase Agreement (the "Facility Agreement," Note 10) will be sufficient to fund operating and capital expenditure requirements through at least 12 months from the date of issuance of these condensed consolidated financial statements.
Significant Risks and Uncertainties	Significant Risks and Uncertainties 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 North America, Asia, 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. The Company generally does not require collateral. As of September 30, 2024, five customers accounted for 23 %, 17 %, 12 %, 11 %, and 11 % of accounts receivable, respectively. As of December 31, 2023, one customer accounted for 42 % of accounts receivable. As of September 30, 2024, two vendors accounted for 17 % and 13 % of the accounts payable, respectively. As of December 31, 2023, three vendors accounted for 12 %, 11 %, and 11 % each of the accounts payable, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for our annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on the condensed consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topics 740): Improvements to Income Tax Disclosures" to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for our annual periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on the condensed consolidated financial statements and related disclosures.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenue by Geographic Region	Total revenue for the three months ended September 30, 2024 and 2023, based on the disaggregation criteria described above were as follows (in thousands): Three Months Ended September 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 1,886 84 % $ 445 55 % Europe 78 3 % 168 21 % Asia 286 13 % 197 24 % Total $ 2,250 100 % $ 810 100 % Revenue by timing of recognition: Recognized at a point in time $ 1,395 62 % $ 810 100 % Recognized over time 855 38 % - 0 % Total $ 2,250 100 % $ 810 100 % Total revenue for the nine months ended September 30, 2024 and 2023, based on the disaggregation criteria described above are as follows (in thousands): Nine Months Ended September 30, 2024 2023 Revenue % of Revenue Revenue % of Revenue Revenue by primary geographical market: North America $ 5,511 87 % $ 1,464 54 % Europe 347 5 % 569 21 % Asia 511 8 % 668 25 % Total $ 6,369 100 % $ 2,701 100 % Revenue by timing of recognition: Recognized at a point in time $ 4,503 71 % $ 2,267 84 % Recognized over time 1,866 29 % 434 16 % Total $ 6,369 100 % $ 2,701 100 %

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 18,586 $ — $ — $ 18,586 $ 18,586 $ — Level 1 Money market funds 492 — — 492 492 — Level 2 U.S. agency securities 13,802 23 — 13,825 — 13,825 U.S. Treasury securities 26,229 14 — 26,243 11,384 14,859 Commercial paper 20,240 25 — 20,265 — 20,265 Corporate bonds 55,352 65 ( 11 ) 55,406 — 55,406 Subtotal 115,623 127 ( 11 ) 115,739 11,384 104,355 Total assets $ 134,701 $ 127 $ ( 11 ) $ 134,817 $ 30,462 $ 104,355 Liabilities Level 3 Warrant liabilities $ — $ — $ — $ 4,955 $ — $ — Total liabilities $ — $ — $ — $ 4,955 $ — $ — December 31, 2023 Adjusted Cost Unrealized Gain Unrealized Losses Fair Value Cash and Cash Equivalent Marketable Securities (in thousands) Assets Cash $ 21,799 $ — $ — $ 21,799 $ 21,799 $ — Level 1 Money market funds 6,266 — — 6,266 6,266 — Level 2 U.S. agency securities 35,962 8 ( 97 ) 35,873 — 35,873 U.S. Treasury securities 18,323 1 ( 14 ) 18,310 10,482 7,828 Commercial paper 38,491 25 ( 16 ) 38,500 — 38,500 Corporate bonds 100,274 136 ( 130 ) 100,280 — 100,280 Subtotal 193,050 170 ( 257 ) 192,963 10,482 182,481 Total assets $ 221,115 $ 170 $ ( 257 ) $ 221,028 $ 38,547 $ 182,481 Liabilities Level 3 Warrant liabilities $ — $ — $ — $ 6,772 $ — $ — Total liabilities $ — $ — $ 6,772 $ — $ —
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 thousands): September 30, 2024 December 31, 2023 Fair value, beginning balance $ 6,772 $ 90 Fair value at issuance of Series A Warrants — 6,450 Change in the fair value of Series A warrants included in other income (expense), net ( 1,799 ) 300 Change in the fair value of private placement warrants included in other income (expense), net ( 18 ) ( 68 ) Fair value, closing balance $ 4,955 $ 6,772
Schedule of Black-Scholes Option Pricing Model For Private Warrants	The key inputs into the Black-Scholes option pricing model for the private placement warrants were as follows for the relevant periods: September 30, 2024 December 31, 2023 Expected term (years) 1.4 2.2 Expected volatility 87.6 % 94.1 % Risk-free interest rate 3.82 % 4.23 % Dividend yield 0 % 0 % Exercise Price $ 57.50 $ 57.50 The key inputs into the Black-Scholes option pricing model for the Series A warrants were as follows for the relevant periods: September 30, 2024 December 31, 2023 Expected term (years) 3.2 4.0 Expected volatility 87.6 % 87.2 % Risk-free interest rate 3.55 % 3.89 % Dividend yield 0 % 0 % Exercise Price $ 5.00 $ 5.00

Acquisition and Intangible As_2

Acquisition and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Expected Amortization Expense Relating to Purchased Intangible Assets	As of September 30, 2024, expected amortization expense relating to purchased intangible assets was as follows (in thousands): Remainder of 2024 $ 225 2025 900 2026 825 Total future amortization $ 1,950

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): September 30, December 31, 2024 2023 Raw materials $ 1,416 $ 2,178 Work-in-progress 142 136 Finished goods 567 60 Total inventories $ 2,125 $ 2,374

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Computer equipment $ 3,023 $ 2,795 Lab equipment 8,270 7,151 Leasehold improvements 3,362 3,148 Construction in progress 347 1,434 Testing equipment 1,956 1,455 Manufacturing equipment 5,825 4,269 Furniture, fixtures and other equipment 560 458 Total property, plant and equipment $ 23,343 $ 20,710 Less: accumulated depreciation ( 11,954 ) ( 8,596 ) Total property, plant and equipment, net $ 11,389 $ 12,114

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Prepaid expenses $ 2,536 $ 2,228 Contract assets — 140 Vendor deposits 1,436 1,104 Other current assets 3,780 1,723 Total other current assets $ 7,752 $ 5,195

Other non-current assets (Table

Other non-current assets (Tables)	9 Months Ended
	Sep. 30, 2024
Other Assets, Noncurrent [Abstract]
Schedule of Other Non-Current Assets	Other non-current assets consist of the following (in thousands): September 30, December 31, 2024 2023 Non marketable equity investments $ 5,000 $ 5,000 Security deposit 815 $ 1,116 Other non-current assets — 16 Total other non-current assets $ 5,815 $ 6,132

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Other Liabilities, Current [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): September 30, December 31, 2024 2023 Litigation settlement $ 14,000 $ — Other current liabilities 4,132 2,524 Total other current liabilities $ 18,132 $ 2,524

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 2024 2023 Numerator: Net loss attributable to common stockholders $ ( 37,396 ) $ ( 33,238 ) ( 116,115 ) ( 104,367 ) Denominator: Weighted average shares of common stock outstanding — Basic 53,704,039 44,565,164 53,149,318 44,200,670 Dilutive effect of potential common stock — — — — Weighted average shares of common stock outstanding — Diluted 53,704,039 44,565,164 53,149,318 44,200,670 Net loss per share attributable to common stockholders — Basic and Diluted $ ( 0.70 ) $ ( 0.75 ) $ ( 2.18 ) $ ( 2.36 )
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, 2024 2023 Common stock options issued and outstanding 2,372,083 2,499,451 Restricted stock units 6,615,696 5,228,873 Performance-based restricted stock units 1,911,765 1,911,765 Common stock warrants 2,491,775 2,491,775 Series A warrants 3,000,000 — Total 16,391,319 12,131,864

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Schedule of Stock Options Activity	A summary of the Company’s stock option activity, for the nine months ended September 30, 2024, was as follows: Number of Weighted- Weighted- Aggregate Outstanding as of December 31, 2023 2,414,730 $ 2.79 5.73 $ 4,004 Exercised ( 42,249 ) 1.78 — — Forfeited ( 398 ) 2.74 — — Outstanding as of September 30, 2024 2,372,083 $ 2.81 5.01 $ 2,810 Vested and exercisable as of September 30, 2024 2,323,091 $ 2.56 4.96 $ 2,810 Vested and expected to vest as of September 30, 2024 2,372,083 $ 2.81 5.01 $ 2,810 There were no options granted during the nine months ended September 30, 2024.
Schedule of Restricted Stock Activity	The following table summarizes the Company's RSU activity for the nine months ended September 30, 2024: Shares Weighted Average Outstanding as of December 31, 2023 5,204,177 $ 9.65 Granted 4,061,272 3.53 Released ( 1,545,839 ) 10.96 Forfeited ( 1,103,914 ) 7.53 Outstanding as of September 30, 2024 6,615,696 $ 5.93
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: Expected term (years) 0.5 - 4.7 Expected volatility 70.9 % Risk-free interest rate 3.29 % Dividend yield 0 % Share price $ 5.10
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, 2024 2023 2024 2023 Cost of revenue $ 42 $ 161 $ 208 $ 858 Research and development expenses 4,261 3,094 12,439 12,717 General and administrative expenses 1,983 1,654 3,803 3,989 Selling and marketing expenses 219 240 680 589 Total $ 6,505 $ 5,149 $ 17,130 $ 18,153

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 (in thousands): Operating Leases Remainder of 2024 $ 1,000 2025 3,157 2026 728 Total minimum lease payments 4,885 Less: imputed interest ( 194 ) Total lease liability $ 4,691

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Geographic Areas, Long-Lived Assets [Abstract]
Schedule of Property and Equipment by Geographic Region	The following table set s forth the Company’s property, plant, and equipment, net by geographic region (in thousands): September 30, December 31, 2024 2023 North America $ 7,228 $ 8,675 Asia 4,161 3,439 Total $ 11,389 $ 12,114

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 18, 2024	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Significant Accounting Policies [Line Items]
Common stock, par value	$ 0.0001		$ 0.0001	$ 0.0001
Cash and cash equivalents			$ 30,462	$ 38,547
Accumulated deficit			$ 575,715	$ 459,600
Number of months required to fund operating and capital expenditure		12 months
Stockholders' Equity, Reverse Stock Split	On March 18, 2024, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-5 reverse stock split (the “Reverse Stock Split”) of the Company’s shares of common stock, $0.0001 par value (the “common stock”). Pursuant to the Reverse Stock Split, every five (5) shares of issued and outstanding shares of common stock were combined into one (1) share of common stock.
Number of Common Stock Authorized	0		422,000,000	422,000,000
Money Market Funds [Member]
Significant Accounting Policies [Line Items]
Cash and cash equivalents			$ 134,800
Accumulated deficit			$ (575,700)
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			23%	42%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage			17%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer Three [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage			12%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer Four [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage			11%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer Five [Member]
Significant Accounting Policies [Line Items]
Number of customer accounted for accounts receivable			five customers
Concentration risk, percentage			11%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | One Vendor [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage			17%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Two Vendor [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage			13%
Credit Concentration Risk [Member] | Accounts Payable [Member] | Two Vendors [Member]
Significant Accounting Policies [Line Items]
Number of vendors accounted for accounts payable			two vendors
Credit Concentration Risk [Member] | Accounts Payable [Member] | One Vendor [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage				12%
Credit Concentration Risk [Member] | Accounts Payable [Member] | Two Vendor [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage				11%
Credit Concentration Risk [Member] | Accounts Payable [Member] | Three Vendor [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage				11%
Number of vendors accounted for accounts payable				three vendors

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregated Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Revenue	$ 2,250	$ 810	$ 6,369	$ 2,701
% of Revenue	100%	100%	100%	100%
Recognized at a point in time [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 1,395	$ 810	$ 4,503	$ 2,267
% of Revenue	62%	100%	71%	84%
Recognized over time [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 855	$ 0	$ 1,866	$ 434
% of Revenue	38%	0%	29%	16%
North America [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 1,886	$ 445	$ 5,511	$ 1,464
% of Revenue	84%	55%	87%	54%
Europe [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 78	$ 168	$ 347	$ 569
% of Revenue	3%	21%	5%	21%
Asia [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 286	$ 197	$ 511	$ 668
% of Revenue	13%	24%	8%	25%

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 Customer	Sep. 30, 2024 USD ($) Customer	Sep. 30, 2023 Customer	Dec. 31, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Contract assets	$ 0		$ 0		$ 140
Customer Concentration Risk [Member] | Revenue [Member]
Disaggregation of Revenue [Line Items]
Number Of customers meeting concentration risk threshold | Customer		2	2	2
Customer Concentration Risk [Member] | Revenue [Member] | Customer One [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	67%	40%	60%	27%
Customer Concentration Risk [Member] | Revenue [Member] | Customer Two [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		11%	19%	13%
Other current assets [Member]
Disaggregation of Revenue [Line Items]
Contract assets	$ 0		$ 0		100
Other current liabilities [Member]
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 3,100		$ 3,100		$ 2,100

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, 2024	Dec. 31, 2023
Available-for-sale [Abstract]
Cash	$ 18,586	$ 21,799
Adjusted Cost	134,701	221,115
Unrealized Gains	127	170
Unrealized Losses	(11)	(257)
Fair Value	134,817	221,028
Cash and cash equivalents	30,462	38,547
Marketable Securities	104,355	182,481
Total liabilities	4,955	6,772
Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	115,623	193,050
Unrealized Gains	127	170
Unrealized Losses	(11)	(257)
Fair Value	115,739	192,963
Cash and cash equivalents	11,384	10,482
Marketable Securities	104,355	182,481
Fair Value, Inputs, Level 3 [Member] | Warrant Liabilities [Member]
Available-for-sale [Abstract]
Total liabilities	4,955	6,772
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale [Abstract]
Adjusted Cost	492	6,266
Fair Value	492	6,266
Cash and cash equivalents	492	6,266
U.S. agency securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	13,802	35,962
Unrealized Gains	23	8
Unrealized Losses		(97)
Fair Value	13,825	35,873
Marketable Securities	13,825	35,873
U.S. Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	26,229	18,323
Unrealized Gains	14	1
Unrealized Losses		(14)
Fair Value	26,243	18,310
Cash and cash equivalents	11,384	10,482
Marketable Securities	14,859	7,828
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	20,240	38,491
Unrealized Gains	25	25
Unrealized Losses		(16)
Fair Value	20,265	38,500
Marketable Securities	20,265	38,500
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale [Abstract]
Adjusted Cost	55,352	100,274
Unrealized Gains	65	136
Unrealized Losses	(11)	(130)
Fair Value	55,406	100,280
Marketable Securities	$ 55,406	$ 100,280

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, 2024	Dec. 31, 2023
Fair Value, Beginning Balance	$ 6,772	$ 90
Fair value at issuance of Series A warrants	0	6,450
Change in the fair value included in other income (expense), net	(18)	(68)
Fair Value, Ending Balance	4,955	6,772
Warrant and Series A [Member]
Change in the fair value included in other income (expense), net	$ (1,799)	$ 300

Financial Instruments - Schedul

Financial Instruments - Schedule of Black-Scholes Option Pricing Model For Private Warrants (Details) - Series A warrants - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (years)	1 year 4 months 24 days	2 years 2 months 12 days
Expected volatility	87.60%	94.10%
Risk-free interest rate	3.82%	4.23%
Dividend yield	0%	0%
Exercise Price	$ 57.5	$ 57.5
Series A Preferred Stock [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (years)	3 years 2 months 12 days	4 years
Expected volatility	87.60%	87.20%
Risk-free interest rate	3.55%	3.89%
Dividend yield	0%	0%
Exercise Price	$ 5	$ 5

Acquisition and Intangible As_3

Acquisition and Intangible Assets (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 225
2025	900
2026	825
Total future amortization	$ 1,950

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 1,416	$ 2,178
Work-in-progress	142	136
Finished goods	567	60
Total inventory	$ 2,125	$ 2,374

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 23,343	$ 20,710
Less: accumulated depreciation	(11,954)	(8,596)
Total property, plant and equipment, net	11,389	12,114
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	3,023	2,795
Lab Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	8,270	7,151
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	3,362	3,148
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	347	1,434
Testing Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	1,956	1,455
Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	5,825	4,269
Furniture, Fixtures and Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 560	$ 458

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 1.1	$ 0.8	$ 3.4	$ 2.5

Other Current Assets - Schedule

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 2,536	$ 2,228
Contract assets	0	140
Vendor deposits	1,436	1,104
Other current assets	3,780	1,723
Total other current assets	$ 7,752	$ 5,195

Other non-current assets - Sche

Other non-current assets - Schedule of Other Non-Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Assets, Noncurrent [Abstract]
Non marketable equity investments	$ 5,000	$ 5,000
Security deposit	815	1,116
Other non-current assets	0	16
Total other non-current assets	$ 5,815	$ 6,132

Other non-current assets (Addit

Other non-current assets (Additional Information) (Details) - Preferred Stock [Member] $ in Millions	Nov. 30, 2023 USD ($) shares
Other Non-Current Assets [Line Items]
Prefered Stock purchased | shares	700,440
Cash Consideration | $	$ 5
Percentage of investment of Mobility capitalisation	1%

Other Current Liabilities - Sc

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities, Current [Abstract]
Litigation settlement	$ 14,000	$ 0
Other current liabilities	4,132	2,524
Total other current liabilities	$ 18,132	$ 2,524

Financing transaction (Addition

Financing transaction (Additional Information) (Details) $ / shares in Units, $ in Thousands		9 Months Ended
	Nov. 08, 2023 USD ($) Days Segment $ / shares shares	Sep. 30, 2024 USD ($) Warrants $ / shares	Mar. 18, 2024 $ / shares	Dec. 31, 2023 $ / shares shares
Subsidiary or Equity Method Investee [Line Items]
Common stock, par value | $ / shares		$ 0.0001	$ 0.0001	$ 0.0001
Advance condition	The Company’s right to request Advances is conditioned upon the Company achieving a minimum of one new passenger auto-original equipment manufacturer (“OEM”) or commercial OEM program award with at least a 50,000 unit volume
Program award 1 | Segment	50,000
Trading price of the common stock	$ 15
Subscription Agreements [Member]
Subsidiary or Equity Method Investee [Line Items]
Aggregate shares available for purchase | shares	7,360,460
Common stock, par value | $ / shares	$ 0.0001
Share price | $ / shares	$ 2.9
Proceeds from issuance of common stock	$ 21,400
Standby Equity Purchase Agreement [Member]
Subsidiary or Equity Method Investee [Line Items]
Share price | $ / shares	$ 10,000
Preferred stock liquidation preference per share | $ / shares	$ 12,000
Percentage of dividend payble	7%
Convertible preferred stock nonredeemable or redeemable issuer option value	$ 10,000
Common stock applicable conversion price	250%
Facility fee		$ 2,500
Origination fee		600
Administrative fees expense		300
Fees and expenses of the investor and its counsel		$ 400
Standby Equity Purchase Agreement [Member] | Series A One [Member]
Subsidiary or Equity Method Investee [Line Items]
Warrants issued | shares				3,000,000
Standby Equity Purchase Agreement [Member] | Preferred Stock [Member]
Subsidiary or Equity Method Investee [Line Items]
Total preferred facility	$ 125,000
Standby Equity Purchase Agreement [Member] | Common Stock [Member]
Subsidiary or Equity Method Investee [Line Items]
Percentage of common stock beneficially owned by investor	19.90%
Standby Equity Purchase Agreement [Member] | Common Stock [Member] | Series A One [Member]
Subsidiary or Equity Method Investee [Line Items]
Warrants issued to purchase shares of common stock, Exercise price | $ / shares				$ 5
Number of warrants outstanding | Warrants | Warrants		3,000,000
Percentage of common stock outstanding		19.90%
Standby Equity Purchase Agreement [Member] | Maximum [Member]
Subsidiary or Equity Method Investee [Line Items]
Debt instrument convertible threshold trading days | Days	30
Standby Equity Purchase Agreement [Member] | Maximum [Member] | Preferred Stock [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of shares preferred stock aggregate value	$ 50,000
Standby Equity Purchase Agreement [Member] | Minimum [Member]
Subsidiary or Equity Method Investee [Line Items]
Debt instrument convertible threshold trading days | Days	20
Standby Equity Purchase Agreement [Member] | Minimum [Member] | Preferred Stock [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of shares preferred stock aggregate value	$ 25,000

Capital Structure - Additional

Capital Structure - Additional Information (Details) - $ / shares	Sep. 30, 2024	Mar. 18, 2024	Dec. 31, 2023
Class Of Stock [Line Items]
Common stock, shares authorized	422,000,000	0	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 value	$ 0.0001	$ 0.0001	$ 0.0001
Public Warrants [Member]
Class Of Stock [Line Items]
Class of Warrant or Right, Outstanding	2,414,976
Private Warrants [Member]
Class Of Stock [Line Items]
Warrants issued to purchase shares of common stock, Exercise price	$ 57.50
Class of Warrant or Right, Outstanding	76,800
A Series Warrants [Member]
Class Of Stock [Line Items]
Warrants issued to purchase shares of common stock, Exercise price	$ 5
Class of Warrant or Right, Outstanding	3,000,000

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net loss attributable to common stockholders	$ (37,396)	$ (33,238)	$ (116,115)	$ (104,367)
Denominator:
Weighted-average shares used in computing net loss per share - Basic	53,704,039	44,565,164	53,149,318	44,200,670
Dilutive effect of potential common stock	0	0	0	0
Weighted average shares of common stock outstanding - Diluted	53,704,039	44,565,164	53,149,318	44,200,670
Net loss per share, Basic	$ (0.7)	$ (0.75)	$ (2.18)	$ (2.36)
Net loss per share, Diluted	$ (0.7)	$ (0.75)	$ (2.18)	$ (2.36)

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, 2024	Sep. 30, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	16,391,319	12,131,864
Common stock options issued and outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	2,372,083	2,499,451
Restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	6,615,696	5,228,873
Performance-based restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,911,765	1,911,765
Common stock warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	2,491,775	2,491,775
Series A warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	3,000,000	0

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2023	Sep. 30, 2024	Dec. 31, 2023
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		1,399,324
Common stock options issued and outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 0.3
Unrecognized stock-based compensation expense, weighted average recognition period		1 year 2 months 12 days
Number of Options, Granted		0
Restricted stock units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 33
Restricted stock units, vesting period		2 years 8 months 12 days
Granted (in shares)		4,061,272
Performance-Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 1.9
Unrecognized stock-based compensation expense, weighted average recognition period		1 year 3 months 18 days
Weighted-average grant date fair value		$ 5.1
Granted (in shares)	1,176,471	1,911,765	1,911,765
Market-based PBRSU [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense, weighted average recognition period		2 years 7 months 6 days
Unrecognized stock-based compensation expense related to the restricted stock		$ 0.6
Weighted-average grant date fair value		$ 1.4
Granted (in shares)		735,294

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, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Options, Outstanding, Beginning as of December 31, 2023 | shares	2,414,730
Number of Options, Exercised | shares	(42,249)
Number of Options, Forfeited | shares	(398)
Number of Options, Outstanding, Ending At September 30, 2024 | shares	2,372,083	2,414,730
Number of Options, Vested and exercisable as of September 30, 2024 | shares	2,323,091
Number of Options, Vested and expected to vest as of September 30, 2024 | shares	2,372,083
Weighted- Average Exercise Price, Outstanding, Beginning as of December 31, 2023 | $ / shares	$ 2.79
Weighted- Average Exercise Price, Exercised | $ / shares	1.78
Weighted- Average Exercise Price, Forfeited | $ / shares	2.74
Weighted- Average Exercise Price, Outstanding, Ending as of September 30, 2024 | $ / shares	2.81	$ 2.79
Weighted- Average Exercise Price, Vested and exercisable as of September 30, 2024 | $ / shares	2.56
Weighted- Average Exercise Price, Vested and expected to vest as of September 30, 2024 | $ / shares	$ 2.81
Weighted-Average Remaining Contractual Life (Years), Outstanding	5 years 3 days	5 years 8 months 23 days
Weighted-Average Remaining Contractual Life (Years), Vested and exercisable as of September 30, 2024	4 years 11 months 15 days
Weighted-Average Remaining Contractual Life (Years), Vested and expected to vestas of September 30, 2024	5 years 3 days
Aggregate Intrinsic Value, Outstanding | $	$ 2,810	$ 4,004
Aggregate Intrinsic Value, Vested and exercisable as of September 30, 2024 | $	2,810
Aggregate Intrinsic Value, Vested and expected to vest as of September 30, 2024 | $	$ 2,810

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Restricted Stock Activity (Details) - $ / shares	1 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2023	Sep. 30, 2024	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning as of December 31, 2023		2,414,730
Number of Options, Outstanding, Ending At September 30, 2024		2,372,083	2,414,730
Performance-Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Granted	1,176,471	1,911,765	1,911,765
Restricted stock units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning as of December 31, 2023		5,204,177
Shares, Granted		4,061,272
Shares, Released		(1,545,839)
Shares, Forfeited		(1,103,914)
Number of Options, Outstanding, Ending At September 30, 2024		6,615,696	5,204,177
Weighted Average Graint Date Fair Value per Share, Outstanding, Beginningas of December 31, 2023		$ 9.65
Weighted Average Graint Date Fair Value per Share, Granted		3.53
Weighted Average Grant Date Fair Value per Share, Released		10.96
Weighted Average Graint Date Fair Value per Share, Forfeited		7.53
Weighted Average Graint Date Fair Value per Share, Outstanding, Ending as of September 30, 2024		$ 5.93	$ 9.65

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, 2024 $ / 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	$ 5.1
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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 6,505	$ 5,149	$ 17,130	$ 18,153
Cost of Revenue [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	42	161	208	858
Research and Development Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	4,261	3,094	12,439	12,717
General and Administrative Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,983	1,654	3,803	3,989
Selling and Marketing Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 219	$ 240	$ 680	$ 589

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Loss before income taxes	$ (37,374)	$ (33,238)	$ (115,970)	$ (104,367)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
State provision for income taxes			$ 0
Provision for income taxes	$ 22	$ 0	$ 145	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 02, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
Weighted average discount rate		6.04%		6.04%		6.04%
Operating lease cost		$ 1,100	$ 900	$ 3,200	$ 2,700
Other current liabilities				$ 15,608	$ 250
Weighted-average remaining lease term		1 year 4 months 24 days		1 year 4 months 24 days		2 years
Total Settlement Cost	$ 14,000
Insurance Recovery	$ 2,500	$ 2,500		$ 2,500
Delaware Stockholder Litigation [Member]
Loss Contingencies [Line Items]
Other current liabilities				$ 14,000

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, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2024	$ 1,000
2025	3,157
2026	728
Total minimum lease payments	4,885
Less: imputed interest	(194)
Total lease liability	$ 4,691

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 Segment
Segment Reporting [Abstract]
Number of Operating Segments	1

Segment Information - Schedule

Segment Information - Schedule of Long-Lived Assets, by Geographical Areas (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 11,389	$ 12,114
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	7,228	8,675
Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 4,161	$ 3,439