Movella (MVLA) 10-Q 11 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 09, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-04321
Entity Registrant Name	Movella Holdings Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1575384
Entity Address, Address Line One	Suite 110
Entity Address, Address Line Two	3535 Executive Terminal Drive
Entity Address, City or Town	Henderson
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89052
City Area Code	(725)
Local Phone Number	238-5682
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		50,907,431
Entity Central Index Key	0001839132
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common stock
Entity Information [Line Items]
Title of 12(b) Security	Common stock, $.00001 par value per share
Trading Symbol	MVLA
Security Exchange Name	NASDAQ
Warrant
Entity Information [Line Items]
Title of 12(b) Security	Warrants, each warrant exercisable for one share of common stock at an exercise price of $11.50
Trading Symbol	MVLAW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 51,008	$ 14,334
Accounts receivable, net of allowance for credit losses of $721 and $144 at June 30, 2023 and December 31, 2022	5,517	6,690
Inventories	6,348	5,164
Prepaid expenses and other current assets	5,404	3,274
Total current assets	68,277	29,462
Noncurrent assets:
Property and equipment, net	2,692	2,361
Goodwill	37,238	36,381
Intangible assets, net	2,216	5,807
Non-marketable equity securities	25,292	25,285
Capitalized equity issuance costs and other assets	1,668	4,265
Deferred tax assets	0	86
Right-of-use assets	3,134	3,281
Total assets	140,517	106,928
Current liabilities
Accounts payable	2,428	5,967
Accrued expenses and other current liabilities	6,428	7,944
Current portion of long-term debt	141	148
Current portion of deferred revenue	3,053	3,334
Payable to Kinduct sellers – current	0	4,303
Total current liabilities	12,050	21,696
Noncurrent liabilities:
Long-term portion of term debt	50,458	25,649
Convertible notes, net – related party (Note 12)	0	6,186
Warrant liabilities	1,225	0
Deferred revenue, net of current portion	1,331	1,344
Deferred tax liabilities, net	68	0
Operating lease liabilities and other non-current liabilities	2,934	3,088
Total liabilities	68,066	57,963
Commitments and contingencies (Note 13)
Mezzanine equity
Total mezzanine equity	0	185,183
Stockholders’ equity (deficit)
Common stock, $0.00001 par value. 900,000,000 shares authorized, 50,907,431 shares issued and outstanding at June 30, 2023; 46,430,391 shares authorized, 6,231,947 shares issued and outstanding at December 31, 2022	1	1
Additional paid-in capital	211,914	692
Accumulated other comprehensive loss	(561)	(1,646)
Accumulated deficit	(140,039)	(142,016)
Total Movella stockholders’ equity (deficit)	71,315	(142,969)
Non-controlling interest in subsidiaries	1,136	6,751
Total stockholders’ equity (deficit)	72,451	(136,218)
Total liabilities, mezzanine equity and stockholders’ equity	140,517	106,928
Redeemable Convertible Preferred Stock
Mezzanine equity
Total mezzanine equity	0	41,991
Nonredeemable Convertible Preferred Stock
Mezzanine equity
Total mezzanine equity	$ 0	$ 143,192

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 721	$ 144
Common stock:
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	900,000,000	46,430,391
Common stock, shares issued (in shares)	50,907,431	6,231,947
Common stock, shares outstanding (in shares)	50,907,431	6,231,947
Redeemable Convertible Preferred Stock
Mezzanine equity
Mezzanine equity, par value (in dollars per share)	$ 0.00001	$ 0.00001
Mezzanine equity, shares authorized (in shares)	0	3,207,472
Mezzanine equity, shares issued (in shares)	0	3,207,472
Mezzanine equity, shares outstanding (in shares)	0	3,207,472
Mezzanine equity, liquidation preference		$ 30,000
Nonredeemable Convertible Preferred Stock
Mezzanine equity
Mezzanine equity, par value (in dollars per share)	$ 0.00001	$ 0.00001
Mezzanine equity, shares authorized (in shares)	20,000,000	29,524,294
Mezzanine equity, shares issued (in shares)	0	24,338,566
Mezzanine equity, shares outstanding (in shares)	0	24,338,566
Mezzanine equity, liquidation preference		$ 146,548

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues
Total revenues	$ 8,359	$ 8,577	$ 17,526	$ 18,085
Cost of revenues
Total cost of revenues	3,915	4,321	7,486	9,023
Gross profit	4,444	4,256	10,040	9,062
Operating expenses
Research and development	2,203	4,273	5,107	7,809
Sales and marketing	3,785	3,660	7,265	7,100
General and administrative	6,192	3,140	10,149	6,477
Impairment of intangible assets	0	0	4,657	0
Total operating expenses	12,180	11,073	27,178	21,386
Loss from operations	(7,736)	(6,817)	(17,138)	(12,324)
Other income (expense)
Loss on debt extinguishment	0	0	(107)	0
Gain on change in fair value of warrant liabilities	288	0	1,678	0
Debt issuance costs	0	0	(7,945)	0
Revaluation of debt, net	(7,292)	0	24,576	0
Interest expense	(8)	(655)	(180)	(1,055)
Interest income	623	2	879	6
Other income, net	149	65	34	148
Income (loss) before income taxes	(13,976)	(7,405)	1,797	(13,225)
Income tax expense (benefit)	71	(337)	129	(322)
Net income (loss)	(14,047)	(7,068)	1,668	(12,903)
Net loss attributable to non-controlling interests	(188)	(184)	(309)	(423)
Net income (loss) attributable to Movella Holdings Inc.	(13,859)	(6,884)	1,977	(12,480)
Deemed dividend from accretion of Series D-1 preferred stock	0	(670)	(316)	(1,329)
Net income (loss) attributable to common stockholders, basic	$ (13,859)	$ (7,554)	$ 1,661	$ (13,809)
Net income (loss) per share, basic (in dollars per share)	$ (0.27)	$ (1.48)	$ 0.04	$ (2.87)
Net income (loss) per share, diluted (in dollars per share)	$ (0.27)	$ (1.48)	$ 0.04	$ (2.87)
Weighted average shares outstanding, basic (in shares)	50,876,842	5,098,463	40,710,849	4,815,575
Weighted average shares outstanding, diluted (in shares)	50,876,842	5,098,463	41,755,785	4,815,575
Product
Revenues
Total revenues	$ 6,550	$ 7,064	$ 14,209	$ 15,164
Cost of revenues
Total cost of revenues	2,971	3,184	5,332	6,773
Service
Revenues
Total revenues	1,809	1,513	3,317	2,921
Cost of revenues
Total cost of revenues	$ 944	$ 1,137	$ 2,154	$ 2,250

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (14,047)	$ (7,068)	$ 1,668	$ (12,903)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments, net of tax	512	(1,665)	772	(1,645)
Release of cumulative foreign currency translation adjustments as a result of the partial disposition of QDJV	313	0	313	0
Comprehensive income (loss)	(13,222)	(8,733)	2,753	(14,548)
Comprehensive loss attributable to non-controlling interests	(188)	(184)	(309)	(423)
Comprehensive income (loss) attributable to Movella Holdings Inc.	$ (13,034)	$ (8,549)	$ 3,062	$ (14,125)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Mezzanine Equity and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit	Non-controlling interests	Redeemable convertible preferred stock	Non-redeemable convertible preferred stock	Preferred Stock	Preferred Stock Common stock	Preferred Stock Additional paid-in capital	Convertible Notes	Convertible Notes Common stock	Convertible Notes Additional paid-in capital	Warrant Common stock	As Previously Reported	As Previously Reported Common stock	As Previously Reported Additional paid-in capital	As Previously Reported Accumulated other comprehensive income (loss)	As Previously Reported Accumulated deficit	As Previously Reported Non-controlling interests	As Previously Reported Redeemable convertible preferred stock	As Previously Reported Non-redeemable convertible preferred stock	Adjustment Common stock	Adjustment Redeemable convertible preferred stock	Adjustment Non-redeemable convertible preferred stock
Beginning balance, mezzanine equity, shares outstanding (in shares) at Dec. 31, 2021							3,207,472	24,335,794														6,562,724	49,792,827		(3,355,252)	(25,457,033)
Beginning balance, mezzanine equity at Dec. 31, 2021							$ 39,307	$ 143,192														$ 39,307	$ 143,192
Temporary Equity [Roll Forward]
Accretion of Series D-1 convertible preferred stock (in shares)							$ 1,329
Ending balance, mezzanine equity, shares outstanding (in shares) at Jun. 30, 2022							3,207,472	24,335,794
Ending balance, mezzanine equity at Jun. 30, 2022							$ 40,636	$ 143,192
Beginning balance, common stock, shares outstanding (in shares) at Dec. 31, 2021		4,488,642															9,184,092							(4,695,450)
Beginning balance at Dec. 31, 2021	$ (100,786)	$ 1	$ 0	$ 1,431	$ (109,601)	$ 7,383										$ (100,786)	$ 1	$ 0	$ 1,431	$ (109,601)	$ 7,383
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	648		648
Accretion of Series D-1 convertible preferred stock	(1,329)		(1,329)		0
Issuance of common stock for exercise of options (in shares)		1,655,804
Issuance of common stock for exercise of options	1,491		1,491
Issuance of common stock warrants to Eastward	18		18
Foreign currency translation adjustment	(1,645)			(1,645)
Net income (loss)	(12,903)				(12,480)	(423)
Ending balance, common stock, shares outstanding (in shares) at Jun. 30, 2022		6,144,446
Ending balance at Jun. 30, 2022	(114,506)	$ 1	828	(214)	(122,081)	6,960
Beginning balance, mezzanine equity, shares outstanding (in shares) at Mar. 31, 2022							3,207,472	24,335,794														6,562,724	49,792,827		(3,355,252)	(25,457,033)
Beginning balance, mezzanine equity at Mar. 31, 2022							$ 39,966	$ 143,192														$ 39,966	$ 143,192
Temporary Equity [Roll Forward]
Accretion of Series D-1 convertible preferred stock (in shares)							$ 670
Ending balance, mezzanine equity, shares outstanding (in shares) at Jun. 30, 2022							3,207,472	24,335,794
Ending balance, mezzanine equity at Jun. 30, 2022							$ 40,636	$ 143,192
Beginning balance, common stock, shares outstanding (in shares) at Mar. 31, 2022		4,576,859															9,364,591							(4,787,732)
Beginning balance at Mar. 31, 2022	(106,842)	$ 1	0	1,451	(115,438)	7,144										(106,842)	$ 1	0	1,451	(115,438)	7,144
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	335		335
Accretion of Series D-1 convertible preferred stock	(670)		(911)		241
Issuance of common stock for exercise of options (in shares)		1,567,587
Issuance of common stock for exercise of options	1,404		1,404
Foreign currency translation adjustment	(1,665)			(1,665)
Net income (loss)	(7,068)				(6,884)	(184)
Ending balance, common stock, shares outstanding (in shares) at Jun. 30, 2022		6,144,446
Ending balance at Jun. 30, 2022	(114,506)	$ 1	828	(214)	(122,081)	6,960
Beginning balance, mezzanine equity, shares outstanding (in shares) at Dec. 31, 2022							3,207,472	24,338,566														6,562,724	49,798,500		(3,355,252)	(25,459,934)
Beginning balance, mezzanine equity at Dec. 31, 2022	185,183						$ 41,991	$ 143,192														$ 41,991	$ 143,192
Temporary Equity [Roll Forward]
Accretion of Series D-1 convertible preferred stock (in shares)							$ 316
Issuance of common stock upon conversion of Preferred stock (in shares)							(3,207,472)	(24,338,566)
Issuance of common stock upon conversion of Preferred stock							$ (42,307)	$ (143,192)
Ending balance, mezzanine equity, shares outstanding (in shares) at Jun. 30, 2023							0	0
Ending balance, mezzanine equity at Jun. 30, 2023	$ 0						$ 0	$ 0
Beginning balance, common stock, shares outstanding (in shares) at Dec. 31, 2022	6,231,947	6,231,947															12,751,023							(6,519,076)
Beginning balance at Dec. 31, 2022	$ (136,218)	$ 1	692	(1,646)	(142,016)	6,751										(136,218)	$ 1	692	(1,646)	(142,016)	6,751
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	1,157		1,157
Accretion of Series D-1 convertible preferred stock	$ (316)		(316)
Issuance of common stock for exercise of options (in shares)	3,970	3,970
Issuance of common stock for exercise of options	$ 10		10
Issuance of common stock upon conversion (in shares)										27,583,963			651,840		266,880
Issuance of common stock upon conversion									$ 185,499		$ 185,499	$ 6,520		$ 6,520
Issuance of common stock in connection with business combination, net (in shares)		16,168,831
Issuance of common stock in connection with Business Combination Agreement, net of redemptions and transaction costs	13,359		13,359
Partial disposition of interest in QDJV	0		4,993	313		(5,306)
Foreign currency translation adjustment	772			772
Net income (loss)	$ 1,668				1,977	(309)
Ending balance, common stock, shares outstanding (in shares) at Jun. 30, 2023	50,907,431	50,907,431
Ending balance at Jun. 30, 2023	$ 72,451	$ 1	211,914	(561)	(140,039)	1,136
Beginning balance, mezzanine equity, shares outstanding (in shares) at Mar. 31, 2023																						0	0
Beginning balance, mezzanine equity at Mar. 31, 2023																						$ 0	$ 0
Ending balance, mezzanine equity, shares outstanding (in shares) at Jun. 30, 2023							0	0
Ending balance, mezzanine equity at Jun. 30, 2023	0						$ 0	$ 0
Beginning balance, common stock, shares outstanding (in shares) at Mar. 31, 2023																	50,693,308
Beginning balance at Mar. 31, 2023																$ 85,493	$ 1	$ 206,428	$ (1,386)	$ (126,180)	$ 6,630
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	493		493
Issuance of common stock in connection with business combination, net (in shares)		214,123
Partial disposition of interest in QDJV	0		4,993	313		(5,306)
Foreign currency translation adjustment	512			512
Net income (loss)	$ (14,047)				(13,859)	(188)
Ending balance, common stock, shares outstanding (in shares) at Jun. 30, 2023	50,907,431	50,907,431
Ending balance at Jun. 30, 2023	$ 72,451	$ 1	$ 211,914	$ (561)	$ (140,039)	$ 1,136

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Cash flows from operating activities
Net income (loss)	$ (14,047)	$ (7,068)	$ 1,668	$ (12,903)
Adjustments to reconcile net income (loss) to net cash used in operating activities
Depreciation and amortization			953	3,647
Stock-based compensation expense			1,157	648
Provision for excess and obsolete inventories			241	0
Allowance for credit losses			577	0
Impairment of intangible assets	0	0	4,657	0
Unrealized loss on marketable securities			0	58
Accretion of convertible notes, net			0	154
Non-cash interest expense from note accretion			61	159
Non-cash interest expense from deferred payout accretion			57	0
Amortization of debt discount and debt issuance costs			52	209
Gain on change in fair value of embedded derivative			0	(50)
Gain on change in fair value of warrant liabilities	(288)	0	(1,678)	0
Gain on revaluation of debt, net	7,292	0	(24,576)	0
Loss on debt extinguishment	0	0	107	0
Debt issuance costs			7,945	0
Right-of-use assets			267	0
Deferred income taxes			154	0
Changes in operating assets and liabilities
Accounts receivable			606	474
Inventories			(1,313)	(2,014)
Prepaid expenses and other assets			(1,488)	(54)
Other assets			(1,527)	(31)
Accounts payable			(793)	(844)
Accrued expenses and other liabilities			(1,126)	(848)
Deferred revenue			(366)	247
Other liabilities			(205)	(35)
Net cash used in operating activities			(14,570)	(11,183)
Cash flows from investing activities
Purchase of intangibles			0	(153)
Additions to capitalized software development costs			(1,528)	0
Purchases of property and equipment			(646)	(302)
Net cash used in investing activities			(2,174)	(455)
Cash flows from financing activities
Proceeds from Venture Linked Notes			75,000	0
Payment of debt issuance costs			(8,791)	0
Proceeds from Business Combination			36,048	0
Payment of equity issuance costs			(18,682)	0
Repayment of loans using proceeds from Venture Linked Notes			(25,557)	0
Proceeds from term loans and revolving line of credit, net			0	1,006
Proceeds from issuance of convertible notes			0	4,873
Principal payments of loans			0	(280)
Proceeds from the exercise of stock options			10	1,491
Payment of deferred payout to Kinduct sellers			(4,360)	0
Net cash provided by financing activities			53,668	7,090
Effect of foreign exchange rate changes on cash and equivalents			(250)	(443)
Net increase (decrease) in cash and cash equivalents			36,674	(4,991)
Cash and cash equivalents
Beginning of period			14,334	11,166	$ 11,166
End of period	51,008	6,175	51,008	6,175	$ 14,334
Supplemental disclosures of cash flow information
Cash paid for interest			614	507
Cash paid for taxes, net of refunds			93	127
Supplemental disclosure of non-cash investing and financing activities
Accretion of Series D-1 convertible preferred Stock		670	316	1,329
Issuance of convertible notes in exchange for Kinduct deferred payout			0	1,148
Issuance of warrants to lender			0	18
Right-of-use assets obtained in exchange for operating lease liabilities	219	$ 0	219	4,280
Acquisition of warrant liabilities			2,903	0
Capitalized equity issuance costs applied to proceeds			4,248	0
Partial Disposition Of Noncontrolling Interest			5,306	0
Partial disposition of QDJV	$ 0		0
Convertible Notes
Supplemental disclosure of non-cash investing and financing activities
Issuance of common stock upon conversion, value			6,520	0
Preferred Stock
Supplemental disclosure of non-cash investing and financing activities
Issuance of common stock upon conversion, value			$ 185,499	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Overview and Summary of Significant Accounting Policies	Overview and Summary of Significant Accounting Policies Description of Business Movella Holdings Inc. ( the "Company" or "New Movella" or "Movella) is a global full-stack provider of integrated sensors, software, and analytics that enable the digitization of movement. Movella’s solutions accelerate innovation and enable our customers, partners, and users to create extraordinary outcomes. Movella powers real-time character movement in digital environments, transforms movement into digital data that provides meaningful and actionable insights, renders digitized movement to enable the creation of sophisticated and true-to-life animated content, creates new forms of monetizable IP with unique biomechanical digital content, and provides spatial movement orientation and positioning data. Partnering with leading global brands such as Electronic Arts, EPIC Games, 20th Century Studios, Netflix, Toyota, and over 2,000 customers in total, Movella currently serves the entertainment, health and sports, and automation and mobility markets. Additionally, Movella believes it is well-positioned to provide critical enabling solutions for applications in emerging high-growth markets such as the Metaverse, next-generation gaming, live streaming, digital health, and autonomous robots with recently introduced offerings and products currently in development. Movella Inc. (“Legacy Movella”) was incorporated in the state of Delaware on August 14, 2009. Previously the Company was known as mCube Inc, and on September 27, 2021, the Company was renamed to Movella TM . The Company is headquartered in Henderson, Nevada and has subsidiaries in the Netherlands, Canada, United States, Taiwan, China, and India. Merger with Pathfinder Acquisition Corporation On February 10, 2023, (the “Closing Date”), Movella Holdings Inc., a Delaware corporation (formerly known as Pathfinder Acquisition Corporation (“Pathfinder”)), consummated the previously announced business combination (the “Business Combination”) contemplated by that certain Business Combination Agreement, dated October 3, 2022 (the “Business Combination Agreement”), by and among Pathfinder, Motion Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Pathfinder (“Merger Sub”) and Movella Inc., a Delaware corporation. On the Closing Date, promptly following the consummation of the Domestication, Merger Sub merged with and into Movella (the “Merger”), with Movella continuing as the surviving company in the Merger and, after giving effect to the Merger, Movella became a wholly owned subsidiary of New Movella (the time that the Merger became effective being referred to as the “Effective Time”). Pathfinder’s Class A ordinary shares, public warrants and the Pathfinder Units were historically quoted on The Nasdaq Stock Market LLC (“Nasdaq”) under the symbols “PFDR,” “PFDRW,” and “PFDRU,” respectively. On the Closing Date, the Pathfinder Units automatically separated into the component securities and, as a result, no longer trade as a separate security. On February 13, 2023, the New Movella Common Stock and warrants began trading on Nasdaq under the symbols “MVLA” and “MVLAW,” respectively. See Note 4. Reverse Recapitalization for additional information. The Company accounted for the Business Combination as a reverse recapitalization whereby Legacy Movella was determined as the accounting acquirer and PFDR as the accounting acquiree. This determination was primarily based on: • Legacy Movella stockholders having the largest voting interest in New Movella; • the board of directors of New Movella having seven members, and Legacy Movella’s former stockholders having the ability to nominate the majority of the members of the board of directors; • Legacy Movella management continuing to hold executive management roles for the post-combination company and being responsible for the day-to-day operations; • the post-combination company assuming the Legacy Movella name; • New Movella maintaining the pre-existing Legacy Movella headquarters; and • the intended strategy of New Movella being a continuation of Legacy Movella’s strategy. Accordingly, the Business Combination was treated as the equivalent of Legacy Movella issuing stock for the net assets of Pathfinder, accompanied by a recapitalization. The net assets of Pathfinder are stated at historical cost, with no goodwill or other intangible assets recorded. While Pathfinder was the legal acquirer in the Business Combination, because Legacy Movella was determined as the accounting acquirer, the historical financial statements of Legacy Movella became the historical financial statements of the combined company, upon the consummation of the Business Combination. As a result, the financial statements included in the accompanying unaudited interim condensed consolidated financial statements reflect (i) the historical operating results of Legacy Movella prior to the Business Combination; (ii) the combined results of the Company and Legacy Movella following the closing of the Business Combination; (iii) the assets and liabilities of Legacy Movella at their historical cost; and (iv) the Company’s equity structure for all periods presented. In connection with the Business Combination, the Company has converted the equity structure for the periods prior to the Business Combination to reflect the number of shares of New Movella’s common stock issued to Legacy Movella’s stockholders in connection with the recapitalization transaction. As such, the shares, corresponding capital amounts and earnings per share, as applicable, related to Legacy Movella’s convertible preferred stock and common stock prior to the Business Combination have been retroactively converted as shares by applying the exchange ratio of approximately 0.4887 established in the Business Combination. As of June 30, 2023, the Company incurred a total of $29.2 million of business combination related costs which principally consisted of advisory, legal, other professional fees, debt discount and debt issuance costs. The Company expensed $1.6 million related to the Venture Linked Notes in the twelve months ended December 31, 2022 and an additional $7.9 million related to the Venture Linked Notes in the six months ended June 30, 2023. Upon consummation of the business combination agreement in February 2023, $19.7 million of transaction costs have been recorded as a reduction in the proceeds from the business combination. Basis of Presentation and Principles of Consolidation The information contained herein has been prepared by Movella Holdings Inc. (the “Company”) in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The condensed consolidated financial statements include the accounts of the Company, its wholly-owned and majority-owned subsidiaries, and joint ventures in which the Company is the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in consolidation. The information at June 30, 2023 and the results of the Company’s operations for the six months ended June 30, 2023 and 2022 are unaudited. The condensed consolidated financial statements reflect all adjustments, consisting of only normal recurring accruals, except otherwise disclosed herein, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods presented. These unaudited condensed consolidated financial statements and notes hereto should be read in conjunction with the audited financial statements and notes thereto included elsewhere herein. Certain prior period amounts were reclassified to conform to the current period presentation. These reclassifications did not affect total revenues, costs and expenses, net loss, assets, liabilities or stockholders’ deficit. Except as set forth below, the accounting policies used in preparing these unaudited condensed consolidated financial statements are the same as those described in the Company’s financial statements for the year ended December 31, 2022. There were no material changes to our significant accounting policies and estimates during the six months ended June 30, 2023 with the exception of the addition of policies relating to the FP Venture Linked Notes and assumed warrant liabilities. The results of operations for the interim periods presented are not necessarily indicative of results to be expected for any other interim period or for the year as a whole. Qingdao Joint Venture On October 26, 2018, the Company, through its wholly-owned subsidiary, mCube Hong Kong, entered into an Equity Joint Venture Contract (“JV”) with a Chinese entity Qingdao Microelectronics Innovation Center Co., Ltd. (“QMICC”) to form Qingdao Hygealeo Technology Co. Ltd. (“Qingdao JV”). The Company contributed know-how for 70% ownership of the Qingdao JV and QMICC agreed to contribute approximately $16.5 million based on then-prevailing foreign exchange currency rates for 30% ownership. Qingdao JV is engaged in research and development, application and sale of intelligent sensor module turnkey solutions. Qingdao JV was formed and headquartered in Laoshan District, Qingdao, Shandong Province, People’s Republic of China (“PRC”). On April 6, 2020, Golden Maple, Inc., a company headquartered in Zhejiang, China (“Golden Maple”), merged with Qingdao JV. Golden Maple investors exchanged its equity capital valued at approximately $8.3 million at then-prevailing foreign currency exchange rates for 14% of Qingdao JV’s equity interest. Immediately following the effectiveness of the merger between both entities, the current Qingdao JV shareholders, mCube Hong Kong Limited and QMICC, own approximately 60% and 26% of the Company’s subsidiary interest, respectively. On June 10, 2023, as part of the Company's efforts to exit the Qingdao JV, the Company partially disposed of its interest in the Qingdao JV by transferring approximately 10.3% of its equity stake in the Qingdao JV to QMICC and 26.3% of its equity stake in the Qingdao JV to Jinhua Jinfeng Enterprise Management Consulting Co. for no consideration, resulting in Movella owning approximately 23.4% of the Qingdao Joint Venture as of June 30, 2023. Based on the Company’s analysis of the Qingdao JV under ASC 810 – Consolidation, the Company has determined that Qingdao JV is a variable interest entity (“VIE”) based on the fact the Qingdao JV does not have sufficient equity to operate without financial support from the Company. Further, the Company concluded that Movella is the Qingdao JV’s primary beneficiary based on two conditions. Movella occupies two of three member seats in Qingdao JV’s managing committee and has greater than 20% ownership interest in the Qingdao JV, therefore, has the power to direct the activities of the Qingdao JV that most significantly impact its economic performance, including establishing the strategic, operating and capital decisions of the Qingdao JV in the ordinary course of business. In addition, Movella has an obligation to absorb potential losses of the Qingdao JV or the right to receive potential benefits from the Qingdao JV in proportion to its equity interest. As the primary beneficiary, the Company consolidated the results of the Qingdao JV for financial reporting purposes under the variable interest consolidation model guidance in ASC 810 for the six months ended June 30, 2023 and 2022, respectively. Liquidity The Company has prepared its condensed consolidated financial statements assuming that the Company will continue as a going concern. The Company has incurred recurring losses from operations and net cash used in operating activities including a net loss from operations of $17.1 million and net cash used in operating activities of $14.6 million for the six months ended June 30, 2023. The Company has cash, cash equivalents, and marketable securities of $51.0 million; there are restrictions on the Company’s ability to transfer cash and cash equivalents of $0.4 million held outside of the U.S. by its subsidiaries in China and $0.6 million held by its joint venture entity in China as of June 30, 2023. The continuation of the Company as a going concern is dependent upon, among other things, the continued financial support from its investors to fund operations, the ability of the Company to obtain necessary equity or debt financing, and the attainment of profitable operations. On February 10, 2023, the Company consummated the Business Combination Agreement with Pathfinder Acquisition Corporation whereby through a series of transactions, the Company received approximately $58.0 million of net cash proceeds after transaction costs and repayment of debt. See Note 4. Reverse Recapitalization for additional details. The Note Purchase Agreement also contains a financial covenant requiring the Company and its subsidiaries to achieve positive EBITDA on a consolidated basis for the most recently ended four-quarter period, commencing with the last day of the fiscal quarter ending June 30, 2024 and as of the last day of each fiscal quarter thereafter. With the cash, cash equivalents, and marketable securities on hand at June 30, 2023, the Company believes the actions it has taken, and the measures it may take in the future, will provide sufficient liquidity to fund operations and capital expenditures over the next twelve months. The Company may seek to raise additional capital, which could be in the form of loans, convertible debt or equity, to fund future operating requirements and capital expenditures. The Company’s liquidity is highly dependent on its ability to increase revenues, control operating costs, and raise additional capital. The Company continues to closely monitor expenses to assess whether any immediate changes are necessary to enhance its liquidity. There can be no assurance that the Company will be able to raise additional capital on favorable terms, or execute on any other means of improving liquidity as described above. Reclassification Certain reclassifications have been made to the Company’s condensed consolidated financial statements for the six months ended June 30, 2022 to conform to the current period’s condensed consolidated financial statement presentation. The reclassifications had no impact on total revenues, expenses, assets, liabilities, stockholders’ deficit, cash flows from operating activities, cash flows from investing activities, or cash flows from financing activities for all periods presented. Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Such estimates include, but are not limited to, measurement of valuation allowances relating to accounts receivable, inventories and deferred tax assets; estimates of future payouts for customer incentives and allowances and warranties; uncertain tax positions; incremental borrowing rates; fair values of stock-based compensation, fair value of embedded derivatives, fair value of the Venture Linked Notes, and valuation of common stock, preferred stock and warrants; estimates and assumptions used in connection with business combinations; useful lives of long-lived assets including intangible assets and property and equipment; revenue recognition; and future cash flows used to assess and test for impairment of goodwill and long-lived assets, if applicable. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require a material update to its estimates or judgments or an adjustment of the carrying value of its assets or liabilities as of June 30, 2023. However, these estimates may change as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to the Company’s condensed consolidated financial statements in future reporting periods. 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 as forecasted, 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. Segment Reporting The Company’s Chief Executive Officer (“CEO”) is the Chief Operating Decision Maker (“CODM”). The CODM allocates resources and makes operating decisions based on financial information presented on a consolidated basis. The profitability of the Company’s product group is not a determining factor in allocating resources and the CODM does not evaluate profitability below the level of the consolidated company. Accordingly, the Company has determined that it has a single reportable segment and operating segment structure. Cash and Cash Equivalents The Company’s cash and cash equivalents consist of highly liquid investments with insignificant interest rate risk and original maturities of three months or less at the time of purchase. Cash and cash equivalents include demand deposits and money market accounts. Interest is accrued as earned. Cash and cash equivalents are recorded at cost, which approximates fair value. Approximately $1.5 million and $4.1 million of the Company’s cash and cash equivalents balance were held outside of the U.S. as of June 30, 2023 and December 31, 2022, respectively. There are restrictions on the Company’s ability to transfer cash and cash equivalents of $0.4 million held outside of the U.S. by its subsidiaries in China and $0.6 million held by its joint venture entity in China as of June 30, 2023. Debt Instruments Venture Linked Notes As permitted under ASC 825, Financial Instruments the Company has elected the fair value option to account for its Francisco Partners Venture Linked Notes (the “Venture Linked Notes”) primarily to avoid the separate recognition of certain linked instruments in the consolidated statements of operations. In accordance with ASC 825, the Company records the Venture Linked Notes at fair value with changes in fair value recorded as a component of other income (expense), net in the consolidated statements of operations and comprehensive loss. As a result of applying the fair value option, $0.8 million of direct costs and fees related to the Pre-Close Notes and $1.6 million related to the Venture Linked Notes was expensed during the year ended December 31, 2022 and an additional $7.9 million related to the Venture Linked Notes was expensed upon consummation of the Business Combination Agreement in February 2023. Deferred Payout On September 23, 2020, the Company acquired 100% of the issued and outstanding equity of Kinduct Technology, Inc. (“Kinduct”), a privately held company, in the business of developing intelligent health, fitness, and sport performance software. Related to the acquisition of Kinduct the Company agreed to three deferred cash installment payments totaling $10.0 million with a fair value of $9.4 million. The deferred payout schedule was $2.0 million due on March 23, 2021, $2.0 million due on September 23, 2021, and $6.0 million due on March 23, 2022. As of December 31, 2022, the Company had paid $4.0 million for the first two deferred cash installment payments with the remaining $6.0 million of installment payments partially satisfied with an exchange of $1.1 million owed under the deferred payout for convertible notes. See Note 5. Debt and Note 12. Related Party Transactions for more information on the convertible notes. Any amounts that were due and payable under the deferred payout agreement were accruing interest at 12% until paid in full. On December 16, 2022, the Company reached an agreement with the former owners of Kinduct to satisfy in full the remaining balance of the deferred payout, with $1.0 million paid on December 20, 2022 and quarterly installments of $0.5 million due beginning March 31, 2023 unless an Acceleration Event occurs. On February 10, 2023, an Acceleration Event occurred and the Company satisfied the deferred payout liability in full on February 13, 2023. Debt and Equity Issuance Costs Debt and equity issuance costs, which primarily consist of direct and incremental banking, legal, accounting, consulting, and printing fees relating to the merger transaction described in Note 4. Reverse Recapitalization , are allocated between the debt and equity elements of the transaction. Debt issuance costs of $7.9 million relating to the Venture Linked Notes have been expensed in the six months ended June 30, 2023, as the Company elected the fair value option for the Venture Linked Notes which closed on February 10, 2023. The Company recorded $19.7 million of equity issuance costs as a reduction in proceeds received from the business combination. Acquired Intangible Assets The Company’s intangible assets include developed technology, customer relationships, patents, trademarks and non-compete agreements. Intangible assets are stated at cost less accumulated amortization and are amortized over their estimated useful lives using the straight-line method. Acquired intangible assets and long-lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset group containing these assets may not be recoverable. For the six months ended June 30, 2023 and 2022, the Company recognized $4.7 million and nil, respectively, of impairment losses. Warrant Liabilities In connection with the Closing, all 596,435 Legacy Movella warrants were net exercised for 546,056 common shares of Legacy Movella which were then converted into 266,880 shares of New Movella common stock based on the Exchange Ratio of approximately 0.4887. Upon the Closing of the Business Combination, the Company assumed 6,500,000 public warrants and 4,250,000 private placement warrants that were previously issued by PFDR. Each public warrant and private placement warrant is exercisable for 1 share of New Movella common stock at an exercise price of $11.50. The Company evaluates its financial instruments, including its outstanding warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The Company has outstanding public and private placement warrants, neither of which meet the criteria for equity classification and are thus accounted for as liabilities. Accordingly, the Company recognizes the warrants as liabilities at fair value and adjusts the warrants to fair value at each reporting period. The warrant liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s condensed consolidated statement of operations and comprehensive loss. The fair value of the public warrants is estimated based on the quoted market price of such warrants. The fair value of the private placement warrants is estimated using a binomial option pricing model. For the six months ended June 30, 2023 and 2022 the Company recorded a gain on change in fair value of the warrant liabilities of $1.7 million and nil, respectively. Non-marketable Equity Securities The Company’s non-marketable equity securities primarily comprise of shares of a privately held company which the Company received in 2021 as consideration for a licensing arrangement. The Company does not have significant influence over the privately held company and these equity securities do not have readily determinable fair values, as such the Company accounted for these equity securities using a measurement alternative in accordance with ASC 321, Investments—Equity Securities , which allows entities to measure these investments at cost, less any impairment, adjusted for changes from observable price changes in orderly transactions for identifiable or similar investments of the same issuer. The Company determined that there were no transactions with observable prices related to the non-marketable equity securities, and that there were no indicators of impairment related to the non-marketable equity securities for the six months ended June 30, 2023. Preferred Stock Redemption and Classification The Series D-1 convertible redeemable preferred stock (the “Series D-1 Preferred Stock”) contained a liquidation preference whereby holders of the Series D-1 Preferred Stock were entitled to receive consideration equal to their original issue price plus all declared but unpaid dividends, prior to payment to the holders of other series of convertible preferred stock or the holders of common stock. As such, the holders of the Series D-1 Preferred Stock could receive cash entirely while the holders of subordinated equity instruments could receive nothing or cash plus other assets of the company, which is not the same form of consideration as the holders of the Series D-1 Preferred Stock. Likewise, the Series E Preferred Stock has a liquidation preference to the Series D Preferred Stock, Series C Preferred Stock, and Series B and Series A Preferred Stock. The Series D Preferred Stock has a liquidation preference to the Series C Preferred Stock, and Series B and Series A Preferred Stock. The Series C Preferred Stock has a liquidation preference to Series B and Series A Preferred Stock. The Series B and Series A Preferred Stock have a liquidation preference to the Common Stock. The Series D-1 Preferred Stock was redeemable at a price per share equal to the original issue price of $4.5713 per share, plus an amount per share equal to 8% of the original issue price for each year following the original issue date, not more than 60 days after receipt of a written notice from a majority of the Series D-1 shareholders by the Company at any time on or after September 28, 2023. As the preferred stockholders had the ability to control a majority of the votes of the board of directors, a deemed redemption could have occurred that was in the control of the preferred stockholders and outside the control of the Company, and holders of common stock may not have received the same form of consideration as the holders of the preferred stock, the Company concluded that the preferred stock was redeemable at the option of the holder and should be classified in mezzanine equity on the condensed consolidated balance sheets. Upon consummation of the Business Combination Agreement on February 10, 2023, all series of Preferred Stock converted into common stock. Refer to Note 4. Reverse Recapitalization for more information. Lease Accounting The Company determines if an arrangement is a lease at inception. The Company’s operating lease agreements are primarily for real estate and are included within right-of-use assets, net, accrued expenses and other current liabilities, and other long-term liabilities on the condensed consolidated balance sheets. The Company elected the practical expedient to combine its lease and related non-lease components for all its leases. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments that do not depend on an index or rate are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. ROU assets also include any lease prepayments made and exclude lease incentives. Many of the Company’s lease agreements include options to extend the lease, which are not included in the Company’s minimum lease terms unless they are reasonably certain to be exercised. Rental expense for lease payments related to operating leases is recognized on a straight-line basis over the lease term. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) to replace the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted ASU 2016-13 on January 1, 2023 which did not have a material impact on its condensed consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Inventories Inventories consisted of the following (in thousands): June 30, December 31, Raw materials $ 2,622 $ 2,758 Work-in-progress 1,771 1,132 Finished goods 1,955 1,274 $ 6,348 $ 5,164 The amount recorded as charges to cost of revenues, representing inventories considered obsolete and unsaleable was $0.2 million and insignificant for the six months ended June 30, 2023 and 2022, respectively. Prepaid expenses and other current assets Prepaid expenses and other current assets consist of the following (in thousands): June 30, December 31, Prepaid and financed insurance $ 1,360 $ — Prepaid expenses 1,469 1,029 Value added tax receivable 807 446 Contract assets — 197 Vendor prepaid 143 — Government tax receivables 1,449 1,416 Other assets 176 186 $ 5,404 $ 3,274 Property and equipment, net Property and equipment, net consists of the following (in thousands): June 30, December 31, Office equipment $ 156 $ 157 Computer hardware and software 2,115 2,017 Lab equipment 3,250 2,864 Furniture and fixtures 564 545 Leasehold improvements 1,087 1,069 Gross book value 7,172 6,652 Less: accumulated depreciation and amortization (4,480) (4,291) $ 2,692 $ 2,361 Depreciation and amortization expense on property and equipment was $0.4 million and $0.4 million for the six months ended June 30, 2023 and 2022, respectively. Accrued expenses and other current liabilities Accrued expenses and other current liabilities consists of the following (in thousands): June 30, December 31, Accrued compensation and employee benefits $ 1,637 $ 2,999 Accrued professional services 1,895 1,909 Financed insurance 578 — Accrued valued added and other taxes 442 399 Accruals for purchases received 325 751 Current operating lease liabilities 525 593 Accrued TAS legal settlement — 325 Other current liabilities 1,026 968 $ 6,428 $ 7,944

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company categorizes assets and liabilities recorded at fair value on the Company’s condensed consolidated balance sheets based upon the level of judgment associated with inputs used to measure their fair value. The categories are as follows: • Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2—Inputs are quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments. • Level 3—Inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The carrying amount of the Company’s financial instruments including cash and cash equivalents, accounts receivable, and accounts payable approximate their respective fair values because of their short maturities, the Venture Linked Notes are carried at fair value due to the Company's election of the ASC 825 fair value option, while the convertible notes and the deferred payout owed to the sellers of Kinduct were carried at amortized cost, with the convertible notes adjusted for changes in fair value of the embedded derivative. As of June 30, 2023 and December 31, 2022, the carrying amount of the Venture Linked Notes was $50.2 million and zero, respectively. Refer to Note 5. Debt for additional information on the Venture Linked Notes. The following table sets forth the Company’s financial assets and liabilities that were measured at fair value, on a recurring basis as of June 30, 2023 (in thousands): June 30, 2023 Level 1 Level 2 Level 3 Total Financial Assets Cash equivalents Money market funds $ 48,067 $ — $ — $ 48,067 Total assets $ 48,067 $ — $ — $ 48,067 Financial Liabilities Venture Linked Notes $ — $ — $ 50,166 $ 50,166 Public warrants 715 — — 715 Private placement warrants — 510 — 510 Total liabilities $ 715 $ 510 $ 50,166 $ 51,391 The following table sets forth the Company’s financial assets and liabilities that were measured at fair value, on a recurring basis as of December 31, 2022 (in thousands): December 31, 2022 Level 1 Level 2 Level 3 Total Financial Assets Cash equivalents Money market funds $ 11 $ — $ — $ 11 Marketable equity securities 2 — — 2 Total assets $ 13 $ — $ — $ 13 Financial Liabilities Pre-Close Notes $ — $ — $ 25,300 $ 25,300 Embedded derivative in convertible notes — — 60 60 Total liabilities $ — $ — $ 25,360 $ 25,360 Level 1 instruments include highly liquid money market funds classified as cash equivalents and the public warrants. The Company utilized the market approach and Level 1 valuation inputs to value its money market mutual funds and the public warrants. As of June 30, 2023 and December 31, 2022, the carrying amount of cash equivalents approximated fair value due to the short period of time to maturity. Level 2 instruments include the private placement warrants, whose fair value is primarily determined using quoted prices for the public warrants. Level 3 instruments include the Venture Linked Notes, whose fair value is primarily determined using a binomial lattice model with key assumptions detailed below. Public Warrants The fair value of the public warrants is estimated based on the quoted market price of such warrants on the valuation date. The public warrants were initially recognized as a liability in connection with the Business Combination on February 10, 2023 at a fair value of $1.8 million. As of June 30, 2023, the estimated fair value of the public warrants was $0.7 million. The non-cash gain of $1.1 million resulting from the change in fair value of the public warrants between February 10, 2023, and June 30, 2023 is recorded in change in fair value of warrant liabilities in our consolidated statements of operations and comprehensive loss during the six months ended June 30, 2023. Private Placement Warrants The private placement warrants were initially recognized as a liability in connection with the Business Combination on February 10, 2023 at a fair value of $1.1 million and was primarily determined based on the quoted price of the public warrants. As of June 30, 2023, the estimated fair value of the private placement warrants was $0.5 million. The non-cash gain of $0.6 million resulting from the change in fair value of the private placement warrants between February 10, 2023, and June 30, 2023 is recorded in change in fair value of warrant liabilities in our consolidated statements of operations and comprehensive loss during the six months ended June 30, 2023. Venture Linked Notes The Company elected the fair value option per ASC 825 for the Venture Linked Notes, accordingly the estimated fair value of the Venture Linked Notes at June 30, 2023 was determined using a binomial lattice model with significant assumptions including Movella's stock price, dividend yield, expected volatility, the risk-free rate, the discount rate, the term of the instrument, and lattice model inputs such as movement up or down and the probability of such movements. Changes in the fair value of the Venture Linked Notes and Pre-Close Notes totaling a net gain of $24.6 million and zero for the six months ended June 30, 2023 and 2022 are included in the Company’s consolidated statement of operations within other income (expense), net within the caption “Revaluation of debt, net”. As of June 30, 2023, the $75.0 million principal amount of Venture Linked Notes had a fair value of $50.2 million. The fair value of the Venture Linked Notes was determined using a binomial lattice model with the following key assumptions: June 30, 2023 February 10, 2023 Term 4.6 years 5.0 years Stock price $2.13 per share $8.58 per share Dividend yield — % — % Expected volatility 67.5 % 67.5 % Risk-free rate 4.4 % 3.9 % Risky rate 25.4 % 25.6 % Movement up 1.15 1.15 Movement down 0.87 0.87 Probability up 47.2 % 47.1 % Probability down 52.8 % 52.9 %

Reverse Recapitalization

Reverse Recapitalization	6 Months Ended
	Jun. 30, 2023
Reverse Recapitalization [Abstract]
Reverse Recapitalization	Reverse RecapitalizationOn February 10, 2023, Movella and Pathfinder consummated the transactions contemplated by the Business Combination Agreement. In connection with the Closing, each share of preferred stock of Legacy Movella was converted into common stock and, immediately thereafter, each share of common stock of Legacy Movella that was issued and outstanding immediately prior to the effective time of the Business Combination (other than excluded shares as contemplated by the Business Combination Agreement) was canceled and converted into the right to receive approximately 0.4887 shares (the “Exchange Ratio”) of New Movella common stock. At the Closing, each option to purchase Legacy Movella’s common stock, whether vested or unvested, was assumed and converted into an option to purchase a number of shares of New Movella common stock in the manner set forth in the Business Combination Agreement. On November 14, 2022, Movella, Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent, and FP Credit Partners Phoenix II, L.P. and FP Credit Partners II, L.P., as purchasers (the “FP Purchasers”), entered into a Note Purchase Agreement (the “Note Purchase Agreement”) pursuant to which, (a) Movella issued and sold to the FP Purchasers, and the FP Purchasers purchased, the Pre-Close Notes and (b) subject to the fulfillment of certain conditions precedent (including the consummation of the Merger), Movella agreed to issue and sell to the FP Purchasers, and the FP Purchasers agreed to purchase, on the Closing Date, the Venture Linked Notes, in each case, for the consideration, as set forth in the Note Purchase Agreement. In exchange for the entry into a Transaction Support Agreement for the FP Shares, pursuant to which the FP Purchasers agreed to, among other matters, refrain from redeeming the FP Shares (outside of certain circumstances), the Note Purchase Agreement provides that Movella issued and FP purchased notes evidencing the Venture Linked Notes, the deemed proceeds of which were used to, among other things, refinance the Pre-Close Notes in their entirety. Pursuant to the Venture Linked Notes, Movella Holdings has the right, subject to certain exceptions, to cause FP to sell all or a portion of the FP Shares at any time at its sole discretion over the life of the Venture Linked Notes, and a percentage of the proceeds (which percentage is a function of when proceeds are generated, based on a predetermined schedule with a sliding scale) of any such sale shall be applied as a credit against the outstanding obligations under the Venture Linked Notes upon repayment of the Venture Linked Notes in full or a refinancing event. The Venture Linked Notes will mature five years after the Closing Date. On December 5, 2022, the FP Purchasers commenced (within the meaning of Rule 14d-2 promulgated under the Exchange Act) the Tender Offer. On the terms and subject to the conditions set forth in the Offer to Purchase and Letter of Transmittal, each dated as of December 5, 2022, the Tender Offer was due to expire at 11:59 p.m., Eastern Time, on January 4, 2023 (the “Expiration Time”). Prior to the Expiration Time, on January 4, 2023, the FP Purchasers irrevocably and unconditionally terminated the Tender Offer. As a result of this termination, no Class A ordinary shares were purchased in the Tender Offer, all Class A ordinary shares previously tendered and not withdrawn were promptly returned to tendering holders, and FP purchased 7.5 million shares of New Movella Common Stock in the FP Private Placement. In connection with the Note Purchase Agreement, Pathfinder and the FP Purchasers entered into an agreement (the “Equity Grant Agreement”) that provides for the issuance of 1.0 million shares of New Movella Common Stock by New Movella to the FP Purchasers on the Closing Date, subject to and conditioned upon the Merger occurring, and the full deemed funding of the Venture Linked Notes and the acquisition by the FP Purchasers or its affiliates of 7.5 million shares of New Movella Common Stock in the FP Private Placement. As the issuance of the 1.0 million shares under the Equity Grant Agreement was negotiated by Pathfinder concurrently with the Note Purchase Agreement and represents an obligation of Pathfinder as of the Closing, Pathfinder recognized the expense associated with the fair value of the issuance of these shares immediately prior to the consummation of the Merger. In connection with the Merger, New Movella assumed all issued and outstanding Pathfinder ordinary shares and converted the Pathfinder ordinary shares to shares of New Movella, as described further below. The Company accounted for the Business Combination as a reverse recapitalization whereby Legacy Movella was determined as the accounting acquirer and Pathfinder as the accounting acquiree. Refer to Note 1. Overview and Summary of Significant Accounting Policies , for further details. Accordingly, the Business Combination was treated as the equivalent of Legacy Movella issuing stock for the net assets of Pathfinder, accompanied by a recapitalization. The net assets of Pathfinder are stated at historical cost, with no goodwill or other intangible assets recorded. Upon the closing of the Transactions and the issuance of the Venture Linked Notes, the Company received total gross proceeds of $111.0 million, which consisted of $36.0 million from Pathfinder’s trust and $75.0 million from the Venture Linked Notes. Such gross proceeds were offset by $27.5 million of transaction costs, which principally consisted of advisory, legal and other professional fees, and were allocated to the fair value of the equity issued on the Closing Date, as detailed below, and the Venture Linked Notes and Pathfinder warrants on a relative fair value basis. The transaction costs allocated to the equity issued on the Closing Date were accounted for as a reduction in additional paid-in capital, and the transaction costs allocated to the Venture Linked Notes and Pathfinder warrants were expensed immediately on the Closing Date. Debt repayments, inclusive of accrued but unpaid interest, of $25.6 million were paid in conjunction with the Closing, which consisted of a $25.6 million repayment of the Pre-Close Notes. Upon the consummation of the Merger, New Movella adopted a single class stock structure pursuant to which the following events contemplated by the Business Combination Agreement occurred, based on Legacy Movella’s capitalization as of February 10, 2023: • All 56,361,224 issued and outstanding shares of Legacy Movella redeemable convertible preferred stock were converted into 56,438,820 shares of Legacy Movella common stock at the conversion rate as calculated pursuant to Legacy Movella’s certificate of incorporation; • All of the outstanding principal and accrued interest on the convertible notes of Legacy Movella were converted into 1,333,712 shares of Legacy Movella common stock at the conversion rate as calculated pursuant to the terms of each of the Legacy Movella convertible notes; • All 596,435 issued and outstanding warrants of Legacy Movella were net exercised in exchange for 546,056 shares of Legacy Movella common stock pursuant to the terms of the applicable warrant agreement; • All 71,077,736 issued and outstanding shares of Legacy Movella common stock (including 12,759,148 shares of Legacy Movella common stock, 56,438,820 shares of legacy Movella common stock resulting from the conversion of the Legacy Movella redeemable convertible preferred stock, 1,333,712 shares from the conversion of Legacy Movella convertible notes, and 546,056 shares from the net exercise of Legacy Movella warrants) were converted into 34,738,600 shares of New Movella common stock (including 6,235,917 shares of Legacy Movella common stock, 27,583,963 shares of legacy Movella common stock resulting from the conversion of the Legacy Movella redeemable convertible preferred stock, 651,840 shares from the conversion of Legacy Movella convertible notes, and 266,880 shares from the net exercise of Legacy Movella warrants) after giving effect to the Exchange Ratio of approximately 0.4887 as calculated in accordance with the Business Combination Agreement; and • All 11,637,195 granted and outstanding unexercised Legacy Movella options were converted into 5,687,048 New Movella options exercisable for shares of New Movella common stock with the same terms and vesting conditions except for the number of shares exercisable and the exercise price, each of which was adjusted by the Exchange Ratio of approximately 0.4887 as calculated in accordance with the Business Combination Agreement. In connection with the Closing of the Merger: • All 3,568,831 issued and outstanding non-redeemed Pathfinder Class A ordinary shares were converted into 3,568,831 shares of New Movella common stock on a one-for-one basis in accordance with the Business Combination Agreement. Pathfinder’s public shareholders holding 28,931,169 Pathfinder Class A ordinary shares elected to redeem their shares prior to the Closing; • Pathfinder Acquisition LLC, a Delaware limited liability company (the “Sponsor”) forfeited approximately 50.0 percent, or 4,025,000 shares of Pathfinder Class B ordinary shares held by the Sponsor (“Sponsor Shares”) at the Closing in accordance with the Sponsor Letter Agreement for no consideration. The remaining 4,100,000 issued and outstanding Pathfinder Class B ordinary shares were converted into 4,100,000 shares of New Movella common stock on a one-for-one basis in accordance with the Business Combination Agreement; • All 7,500,000 issued and outstanding FP Shares were converted into 7,500,000 shares of New Movella common stock; • All 1,000,000 issued and outstanding FP Shares issued in accordance with the Equity Grant Agreement to the FP Purchasers were converted into 1,000,000 shares of New Movella common stock; • All 4,250,000 issued and outstanding Pathfinder private placement warrants were converted into 4,250,000 New Movella warrants that each represent the right to acquire one share of New Movella common stock for $11.50; and

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the outstanding borrowings as of June 30, 2023 and December 31, 2022 (in thousands): June 30, December 31, Venture Linked Notes $ 75,000 $ — Pre-Close Notes — 25,300 Convertible notes - related party — 6,345 ACOA Loans 433 497 Add: fair value of embedded derivative in convertible notes — 60 Less: unamortized debt discounts and issuance costs — (219) Less: fair value adjustment on Venture Linked Notes (24,834) — Total debt $ 50,599 $ 31,983 Classification: Current portion of long-term debt $ 141 $ 148 Long-term portion of term debt 50,458 25,649 Convertible notes, net – related party — 6,186 Pre-Close Notes and Venture Linked Notes On November 14, 2022, the Company and certain of its subsidiaries, Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent, and Credit Partners II AIV, L.P. and FP Credit Partners Phoenix II AIV, L.P., as purchasers (the “ Purchasers ”), entered into a Note Purchase Agreement (the “ Note Purchase Agreement ”) pursuant to which, (a) the Company issued and sold to the Purchasers, and the Purchasers purchased, senior secured notes of the Company in an aggregate original principal amount of $25 million (the “Pre-Close Facility ” or "Pre-Close Notes"), and (b) subject to the fulfillment of certain conditions precedent (including the consummation of the Merger), the Company agreed to issue and sell to the Purchasers, and the Purchasers agreed to purchase, on the Closing Date, senior secured venture-linked notes in an aggregate original principal amount of $75 million (the “ VLN Facility ”), in each case, for the consideration (including via a deemed sale and purchase, as applicable), as set forth in the Note Purchase Agreement. The obligations of the Company under the Note Purchase Agreement are guaranteed by certain of its subsidiaries and secured by substantially all of the Company’s and such subsidiaries’ assets. Upon consummation of the Merger, New Movella will also be required to become a secured guarantor of the obligations under the Note Purchase Agreement. The commitment to provide the VLN Facility terminates upon the earliest to occur of (i) the termination of the Business Combination Agreement in accordance with its terms prior to the Closing Date and (ii) April 30, 2023, if the Merger has not been consummated on or prior to April 30, 2023 (the “ VLN Termination Date ”). The Merger was consummated on February 10, 2023 and thus the Closing Date occurred. The proceeds of the Pre-Close Facility were used, in part, to refinance certain existing debt of the Company and its subsidiaries and to pay a portion of the transaction expenses associated with the financing arrangements contemplated by the Commitment Letter (the “ FP Financing ”), with the remaining proceeds available for growth and working capital and general corporate purposes. A portion of the proceeds of the VLN Facility were used on the Closing Date to refinance the Pre-Close Facility and to pay transaction expenses associated with the FP Financing. After the Closing, the remaining proceeds of the VLN Facility are available for growth and working capital and general corporate purposes. The interest rate per annum applicable to notes under the Note Purchase Agreement is 9.25%. With respect to the notes evidencing the VLN Facility, interest is paid in kind on the last business day of each calendar quarter commencing with the calendar quarter ending immediately after the Closing Date. Interest is also payable in cash on the Closing Date or the date of any prepayment or repayment of notes (subject however, in certain cases, to the payment of a contractual return, if such contractual return is greater than the amount of all accrued and unpaid interest (other than default interest, if any)). Subject to certain exceptions in connection with certain qualified refinancing events and the repayment of the Pre-Close Facility on the Closing Date, on the date of any voluntary or mandatory prepayment or acceleration of the notes under the Note Purchase Agreement, a scheduled contractual return is required to be paid, if greater than the amount of all accrued and unpaid interest (other than default interest, if any). When such contractual return is paid, such contractual return will be deemed to constitute payment of all accrued and unpaid interest (other than default interest, if any) on the principal amount of notes so prepaid, repaid or accelerated, as applicable, including all interest on the notes that was previously paid in kind. After the Closing, New Movella will have the right, subject to certain exceptions, to cause the Grantees (or their permitted assignees) to sell all or a portion of the shares purchased by such entities in the Tender Offer and the Private Placement at any time in its sole discretion over the life of the VLN Facility, and a percentage of the proceeds (which percentage is a function of when proceeds are generated, based on a predetermined schedule with a sliding scale) of any such sale shall be applied as a credit against the outstanding obligations under of the VLN Facility upon a repayment of the VLN Facility in full or a refinancing event. The VLN Facility also contains a financial covenant requiring the Company and its subsidiaries to achieve positive EBITDA on a consolidated basis for the most recently ended four-quarter period, commencing with the last day of the fiscal quarter ending June 30, 2024 and as of the last day of each fiscal quarter thereafter. As the Closing occurred on February 10, 2023, the maturity of the VLN Facility will be five years after the Closing Date on February 10, 2028. There are no regularly scheduled amortization payments on either the Pre-Close Facility or the VLN Facility until the maturity date therefor, however, there are customary mandatory prepayment events in connection with the receipt of net proceeds from extraordinary receipts and dispositions (subject, in the case of dispositions, to certain customary exceptions and customary reinvestment rights), debt issuances and upon events specified in the Note Purchase Agreement to be a change of control, and the Pre-Close Facility is required to be refinanced in full on the Closing Date with a portion of the proceeds of the VLN Facility. The Pre-Close Facility and VLN Facility may be optionally prepaid in whole or in part. All such prepayments are required to be accompanied by accrued and unpaid interest on the amount prepaid or if greater (excluding default interest, if any), payment of the contractual return. The Atlantic Canada Opportunities Agency Loan (“ACOA” Loan) Kinduct applied for non-interest bearing, unsecured term loans with a monthly installment repayment from the Atlantic Canada Opportunities Agency (ACOA) in 2011, 2013, and 2019. These three loans are scheduled to be repaid in 2024, 2024, and 2029, respectively. In 2022, Kinduct entered into an amendment to reduce the monthly repayments to $200 for these outstanding ACOA loans for the period from July 2021 to December 2022, July 2021 to December 2022, and October 2021 to December 2022, respectively. As of June 30, 2023 and December 31, 2022, the Company had recorded a total debt of $0.4 million and $0.5 million on the accompanying condensed consolidated balance sheets related to these loans. Convertible notes – related party In March 2022, the Company entered into convertible promissory note agreements with two of its existing preferred stock investors and received aggregate cash proceeds of $4.9 million. The Company exchanged an additional $1.1 million of convertible promissory notes to the sellers of Kinduct for extinguishment of $1.1 million of the deferred payout liability owed to them. The convertible note exchange was accounted for as a troubled debt restructuring pursuant to FASB ASC Topic 470-60, Troubled Debt Restructurings by Debtors . As the future undiscounted cash flows of the Convertible notes were greater than their carrying amount, the carrying amount was not adjusted and no gain was recognized as a result of the modification of terms. Of the $1.1 million in convertible notes issued in exchange to the sellers of Kinduct, $1.0 million were issued to a related party. The convertible promissory notes shall bear an interest rate of 6.0% per annum. The outstanding principal amount and all accrued but unpaid interest on the notes shall be mandatorily converted into the Company’s common stock at a conversion price of $9.80 per share (after the effect of the Exchange Ratio of approximately 0.4887) upon the earlier of i) maturity in September 2023 or ii) the occurrence of a capital markets transaction such as an initial public offering or acquisition by a special purpose acquisition company; or upon a change of control as defined in the convertible promissory note agreements, at the discretion of the noteholder, the notes would either convert into the Company’s common stock at a conversion price of $9.80 per share, or would be repayable at 1.50 times the outstanding principal amount plus all accrued and unpaid interest. The convertible notes contained an embedded derivative that was measured at fair value on a recurring basis, with changes in fair value of the embedded derivative recorded within other income (expense) on the condensed consolidated statements of operations. Total interest expense on the convertible notes for the six months ended June 30, 2023 was $0.1 million of which $0.1 million was to related parties.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues A typical sales arrangement involves multiple performance obligations, such as sales of the Company’s inertial motion sensor units, motion capture suits, software licenses, professional services, cloud-based subscription, and subscription and support services which entitles customers to unspecified upgrades, patch releases and telephone-based support. The following table depicts the disaggregation of revenue according to revenue type (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues Product $ 6,550 $ 7,064 $ 14,209 $ 15,164 Service 1,809 1,513 3,317 2,921 Total Revenues $ 8,359 $ 8,577 $ 17,526 $ 18,085 The Company’s Product revenues are generally recognized at a point in time, while Service revenues are generally recognized over time. Revenue recognized during the six months ended June 30, 2023 from deferred revenue balances as of December 31, 2022 was $1.9 million. Revenue recognized during the six months ended June 30, 2022 from deferred revenue balances as of December 31, 2021 was $2.0 million.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Stock-based compensation expense included in the accompanying condensed consolidated statements of operations for the six months ended June 30, 2023 and 2022 are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 80 $ 66 $ 299 $ 114 Sales and marketing 148 91 288 184 General and administrative 265 178 570 350 Total stock-based compensation $ 493 $ 335 $ 1,157 $ 648 Equity Incentive Plans In August 2009, the Company adopted an equity incentive plan (the “2009 Plan”), which was a broad-based, long-term program intended to attract, retain and motivate talented employees and align stockholder and employee interests. The 2009 Plan provided for the issuance of incentive stock options or nonqualified stock options, and restricted stock units ("RSUs") to employees, officers, directors, and consultants of the Company. Under the 2009 Plan, incentive stock options could be granted with an exercise price not less than the fair value of the stock at the date of grant as determined by the Board of Directors. For incentive stock options granted to a person who, at the time of the grant, owns stock representing more than 10% of the total combined voting power of all classes of stock of the Company, the per share exercise price must be no less than 110% of the fair value on the date of the grant as determined by the Board of Directors. All awards had ten-year terms and vest and generally become fully exercisable after five years of service from the date of grant. The 2009 Plan also allowed for the issuance of restricted common stock upon early exercise of nonvested stock options subject to the repurchase right of the Company. The repurchase right lapses in accordance with the vesting schedule of the original option. Shares of restricted stock were awarded to certain senior executives of the Company and 1,348,887 restricted stock units were issued and fully vested prior to 2018. In September 2019, the board approved the 2019 Equity Incentive Plan (the “2019 Plan”) that increased the number of shares of Common Stock that are reserved and available for issuance under the 2019 Plan by 5,500,000 shares. The 2019 Plan increases the maximum number of shares that may be issued under the 2019 Plan pursuant to the exercise of “incentive stock options” as defined in Section 422 of the Internal Revenue Code of 1986, as amended. Whereas, the Board has determined to (a) terminate the 2009 Equity Incentive Plan and (b) adopt the 2019 Plan in order to continue to provide equity incentives to attract, retain and motivate eligible service providers of the Company. Stock options previously granted under the 2009 Plan will remain outstanding until either exercised or canceled. All the remaining available shares under the 2009 Plan will be allocated to the 2019 Plan. In January 2022, the board approved an increase to the number of shares of Common Stock that are reserved and available for issuance under the 2019 plan by 1,500,000 shares. In October 2022, the board approved the 2022 Stock Incentive Plan (the "2022 Plan") that became effective upon the closing of the Business Combination in February 2023. In connection with the 2022 Plan becoming effective, no further grants will be made under Movella’s 2009 Equity Incentive Plan (the “2009 Plan”) or Movella’s 2019 Equity Incentive Plan (the “2019 Plan” and, collectively with the 2009 Plan, the “Predecessor Plans”). The aggregate number of shares of New Movella Common Stock that may be issued pursuant to stock awards under the 2022 Plan will not exceed the sum of (w) 6,105,301 shares, plus (x) any shares underlying outstanding awards under the Predecessor Plans that are cancelled in exchange for an option under the 2022 Plan and that are subsequently forfeited or terminated for any reason before being exercised or becoming vested, not issued because an award is settled in cash, or withheld or reacquired to satisfy the applicable exercise, or purchase price, or a tax withholding obligation, plus (y) the number of shares which, but for the termination of the 2019 Plan immediately prior to the completion of the offering, were reserved under the 2019 Plan but not at such time issued or subject to outstanding awards under the 2019 Plan, plus (z) an annual increase on the first day of each calendar year, for a period of not more than 10 years, beginning on January 1, 2023 and ending on (and including) January 1, 2032, in an amount equal to (i) 5% of outstanding shares on the last day of the immediately preceding calendar year or (ii) such lesser amount (including zero) that the compensation committee determines for purposes of the annual increase for that calendar year. If restricted shares or shares issued upon the exercise of options are forfeited, then such shares will again become available for awards under the 2022 Plan. If stock units, options, or stock appreciation rights are forfeited or terminate for any reason before being exercised or settled, or an award is settled in cash without the delivery of shares to the holder, then the corresponding shares will again become available for awards under the 2022 Plan. Any shares withheld to satisfy the exercise price or tax withholding obligation pursuant to any award of options or stock appreciation rights will again become available for awards under the 2022 Plan. If stock units or stock appreciation rights are settled, then only the number of shares (if any) actually issued in settlement of such stock units or stock appreciation rights will reduce the number of shares available under the 2022 Plan, and the balance (including any shares withheld to cover taxes) will again become available for awards under the 2022 Plan. At June 30, 2023, there are 4,330,015 shares available for future grant under the 2022 Equity Incentive Plan. Stock Options The following table summarizes the Company’s stock option activity under all plans for the six months ended June 30, 2023: Stock Options Outstanding Weighted-Average Outstanding - December 31, 2022 5,691,018 $ 2.15 Granted 1,402,880 $ 1.46 Exercised (3,970) $ 2.59 Cancelled (54,354) $ 2.71 Expired (23,827) $ 2.59 Balance outstanding at June 30, 2023 7,011,747 $ 2.04 Exercisable at June 30, 2023 3,921,557 $ 1.94 Restricted Stock Units Pursuant to the 2022 Plan, the Company may issue RSUs that, upon satisfaction of vesting conditions, allow recipients to receive common stock. Issuances of such awards reduce common stock available under the 2022 Plan for stock incentive awards. The Company measures compensation cost associated with grants of RSUs at fair value, which is generally the closing price of the Company’s stock on the date of grant. RSUs generally vest over a three The following table summarizes the Company’s RSU activity for the six months ended June 30, 2023: RSUs Non-vested - December 31, 2022 — Granted 1,402,917 Vested — Forfeited (11,428) Non-vested - June 30, 2023 1,391,489 As of June 30, 2023, total compensation cost related to unvested stock options and restricted stock units granted to employees under the Company’s stock plan but not yet recognized were $5.8 million and is expected to be recognized on a straight-line basis over a weighted-average period of 2.53 years. 2022 Employee Stock Purchase Plan The 2022 Employee Stock Purchase Plan (the "ESPP") permits eligible employees of the Company to purchase newly issued shares of common stock, at a price equal to 85% of the lower of the fair market value on (i) the first day of the offering period or (ii) the last day of each offering period, through payroll deductions of up to 15% of their annual cash compensation. Under the ESPP, a maximum of 1,017,550 shares of common stock may be purchased by eligible employees. The shares available under the ESPP pool will increase on the first day of each calendar year by the lesser of (i) 1% of the outstanding shares of New Movella Common Stock on such date (ii) 508,775 shares and (iii) an amount (including zero) that the compensation committee determines for purposes of the annual increase for that calendar year. During the six months ended June 30, 2023 and 2022, the Company had not yet issued shares under the ESPP. The Company's ESPP plan began collecting payroll deductions in May 2023. The Company records stock-based compensation awards based on fair value of the stock-based awards as of the grant date using the Black-Scholes option-pricing model. The Company recognizes such costs as compensation expense on a straight-line basis over the employee’s requisite service period, which is generally five years.

Net Income (Loss) per Share

Net Income (Loss) per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per Share The following table sets forth the computation of the basic and diluted net income (loss) per share attributable to common stockholders for the six months ended June 30, 2023 and 2022 (in thousands except share and per share amounts): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net income (loss) attributable to common stockholders, basic and diluted $ (13,859) $ (7,554) $ 1,661 $ (13,809) Denominator: Weighted-average common shares outstanding for basic EPS 50,876,842 5,098,463 40,710,849 4,815,575 Weighted average dilutive outstanding stock options and awards — — 1,044,936 — Diluted weighted-average common shares outstanding 50,876,842 5,098,463 41,755,785 4,815,575 Net income (loss) per share: Basic net income (loss) per share attributable to common stockholders $ (0.27) $ (1.48) $ 0.04 $ (2.87) Diluted net income (loss) per share attributable to common stockholders $ (0.27) $ (1.48) $ 0.04 $ (2.87) Potentially dilutive securities that were not included in the diluted per share calculations as of June 30, 2023 and 2022 because they would be anti-dilutive were as follows: Six Months Ended June 30, 2023 2022 Convertible preferred stock 6,248,301 27,543,266 Outstanding stock options 3,784,702 5,540,332 Convertible notes (a) 147,653 629,208 Legacy Movella Common stock warrants (1:1) — 291,502 Legacy Movella Preferred stock warrants (1:1) — 24,437 Public warrants (1:1) 6,499,961 — Private placement warrants (1:1) 4,250,000 — Total 20,930,617 34,028,745 (a) Assumes conversion at $9.80 per share.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	LeasesThe Company has leased office spaces in U.S. locations including San Jose and Los Angeles, California, and Henderson, Nevada. Outside the U.S., leased sites include offices in Netherlands, Nova Scotia Canada, Shanghai, China, Taiwan and Hong Kong. Future minimum lease payments are under non-cancelable operating leases that expire at various dates through year 2031. Rent expense is recognized using the straight-line method over the term of the lease. The aggregate future non-cancelable minimum rental payments for the Company’s operating leases, as of June 30, 2023, are as follows (in thousands): 2023 (remainder) $ 465 2024 832 2025 662 2026 626 2027 572 2028 572 Thereafter 1,237 Total minimum operating lease payments $ 4,966 Less: Amounts representing interest (1,831) Present value of net minimum operating lease payments 3,135 Less: Current portion (525) Long-term portion of operating lease obligations $ 2,610 The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification June 30, December 31, Right-of-use assets, net Right-of-use assets, net $ 3,134 $ 3,281 Current operating lease liabilities Accrued expenses and other current liabilities (525) (593) Non-current operating lease liabilities Operating lease liabilities and other non-current liabilities (2,610) (2,688) Total operating lease liabilities $ (3,135) $ (3,281) Weighted average remaining lease term (in years) 6.9 7.0 Weighted-average discount rate 14 % 14 % The components of lease cost were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease costs included in operating costs and expenses: Operating leases $ 262 $ 334 $ 623 $ 651 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows related to operating leases $ 260 $ 364 $ 560 $ 730 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 219 $ — $ 219 $ 4,280

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s income tax expense was $0.1 million and a tax benefit of $0.3 million for the three months ended June 30, 2023 and 2022, respectively. The Company’s effective tax rate was -1% and 5% for each of the three months ended June 30, 2023 and 2022, respectively. The income tax expense or benefit consisted primarily of foreign income tax owed at certain of the Company’s international entities. The Company’s income tax expense or benefit is different than the expected expense based on statutory rates primarily due to the full valuation allowances for the majority of the entities. The Company’s income tax expense was $0.1 million and a tax benefit of $0.3 million for the six months ended June 30, 2023 and 2022, respectively. The Company’s effective tax rate was 7% and 2% for the six months ended June 30, 2023 and 2022, respectively. The income tax expense or benefit consisted primarily of foreign income tax owed at certain of the Company’s international entities. The Company’s income tax expense or benefit is different than the expected expense based on statutory rates primarily due to the full valuation allowances for the majority of the entities. As of June 30, 2023, the Company had net operating loss carryforwards for federal and state income tax purposes of approximately $24.8 million and $15.7 million, respectively, which expire beginning in the year 2030 and 2029, respectively. On March 11, 2021, Congress passed, and the President signed into law, the American Rescue Plan Act, 2021 (the “ARP”), which includes certain business tax provisions. The Company does not expect the ARP to have a material impact on the Company’s effective tax rate or income tax expense for the year ending December 31, 2023. On October 28, 2021, the House Rules Committee, under the Biden Administration released new proposed tax legislation under the “Build Back Better Act” (“BBBA”) which contains potential reversals and revisions of key provisions of the 2017 Tax Cuts and Jobs Act. The BBBA, which was passed by the U.S. House of Representatives in November 2021, is proposed legislation that has not yet been enacted into law. Additionally, in late March 2022, the Biden administration proposed a 28% corporate income tax rate. The Company does not believe this will have a material impact on its effective tax rate, though it continues to monitor the Biden Administration’s proposals. The United States enacted the Tax Cuts and Jobs Act in December 2017, which requires companies to capitalize all of their R&D costs, including software development costs, incurred in tax years beginning after December 31, 2022. The Company does not believe this will have a material impact on its effective tax rate as it had no material domestic research costs in 2023. On August 16, 2022, President Biden signed the Inflation Reduction Act into law, marking the most significant action Congress has taken on clean energy and climate change in the nation's history. Effective January 1, 2023, two provisions of the Inflation Reduction Act of 2022 became effective for corporate taxpayers: the Corporate Alternative Minimum Tax (CAMT) and the 1% tax on stock buybacks.

Geographic Information and Conc

Geographic Information and Concentrations of Risk	6 Months Ended
	Jun. 30, 2023
Risks and Uncertainties [Abstract]
Geographic Information and Concentrations of Risk	Geographic Information and Concentrations of Risk Concentration of credit risk Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains a substantial portion of its cash and cash equivalents in checking and savings accounts with banks. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company is exposed to credit risk in the event of default by the financial institutions holding its cash and cash equivalents to the extent recorded in the balance sheets. While the Company has not experienced any losses in such accounts, the recent failure of Silicon Valley Bank (SVB), at which the Company held cash and cash equivalents in multiple accounts, potentially exposed the Company to significant credit risk prior to the completion by the Federal Deposit Insurance Corporation of the resolution of SVB in a manner that fully protected all depositors. Deposits held with banks may exceed the amount of insurance provided on such deposits. The Company generally does not require collateral or other security in support of accounts receivable. The Company periodically reviews the need for an allowance by considering factors such as historical experience, credit quality, the age of the account receivable balances and current economic conditions that may affect a customer’s ability to pay. As of June 30, 2023 and December 31, 2022, no customer represented 10% or more of the Company’s accounts receivable balance. Concentration of customers For each of the six months ended June 30, 2023 and 2022, no customer represented 10% or more of the Company’s consolidated revenues. Concentration of suppliers For the six months ended June 30, 2023 and 2022, one supplier represented 27% and 18%, respectively, of the Company’s inventory purchases, accounting for $3.5 million and $2.3 million, respectively, in total purchases. Concentration of revenue The Company’s revenues by geographical region is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 United States $ 2,218 $ 2,790 $ 4,222 $ 5,100 China 1,723 1,518 3,376 2,869 Asia, excluding China 1,450 1,663 3,052 3,442 Europe 2,032 2,564 4,746 5,464 Other 936 42 2,130 1,210 $ 8,359 $ 8,577 $ 17,526 $ 18,085

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In March 2022, the Company entered into convertible promissory note agreements with two of its existing preferred stock investors and received aggregate cash proceeds of $4.9 million. The Company exchanged an additional $1.1 million of convertible promissory notes to the sellers of Kinduct for extinguishment of $1.1 million of the deferred payout liability owed to them. The convertible note exchange was accounted for as a troubled debt restructuring pursuant to FASB ASC Topic 470-60, Troubled Debt Restructurings by Debtors . As the future undiscounted cash flows of the Convertible notes were greater than their carrying amount, the carrying amount was not adjusted and no gain was recognized as a result of the modification of terms. Of the $1.1 million in convertible notes issued in exchange to the sellers of Kinduct, $1.0 million were issued to a related party. The convertible promissory notes shall bear an interest rate of 6.0% per annum. The outstanding principal amount and all accrued but unpaid interest on the notes shall be mandatorily converted into the Company’s common stock at a conversion price of $9.80 per share (after the effect of applying the Exchange Ratio of approximately 0.4887) upon the earlier of i) maturity in September 2023 or ii) the occurrence of a capital markets transaction such as an initial public offering or acquisition by a special purpose acquisition company; or upon a change of control as defined in the convertible promissory note agreements, at the discretion of the noteholder, the notes would either convert into the Company’s common stock at a conversion price of $9.80 per share, or would be repayable at 1.50 times the outstanding principal amount plus all accrued and unpaid interest.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Asserted Claims The Company accrues for contingencies when it believes that a loss is probable and that it can reasonably estimate the amount of any such loss. Although the Company is not currently subject to any material litigation, and no material litigation is currently threatened against the Company, the Company may be subject to legal proceedings, claims and litigation, including intellectual property litigation, arising in the ordinary course of business. Such matters are subject to many uncertainties and outcomes and are not predictable with assurance. The Company accrues amounts that it believes are adequate to address any liabilities related to legal proceedings and other loss contingencies that it believes will result in a probable loss that is reasonably estimable. In February 2020, Tactical Air Support (“TAS”) filed a lawsuit in the California State Court in Los Angeles against the Company’s wholly-owned subsidiary, Xsens North America, Inc. (“Xsens North America”). In the complaint, TAS alleged tort and contract-based causes of action arising from TAS purchases of allegedly defective Xsens North America inertial measurement unit devices (“IMUs”). TAS never deployed IMUs in its military aircraft. In response, Xsens North America removed the case to the California Federal District Court in Los Angeles based upon the party’s diversity of citizenship. The Company filed a Motion to dismiss each of TAS’ alleged non-contract-based claims and its prayers for damages in excess of the approximate $40,000 TAS paid for the IMUs on multiple grounds, prohibiting such claims and limiting TAS’ alleged damages to the purchase amount paid. The Motion to dismiss alleged non-contract-based claims was granted on September 3, 2022. In December 2022, the Company entered into an agreement with TAS including mutual releases and the lawsuit was dismissed; in January 2023 the Company paid $0.3 million to TAS pursuant to the agreement, which was accrued on the December 31, 2022 condensed consolidated balance sheet. In April 2022, the Company received a demand letter concerning its alleged failure to make various payments to certain selling shareholders of Kinduct Technologies Inc. (“Kinduct Shareholders”) pursuant to the Amended and Restated Share Purchase Agreement dated as of September 10, 2020 (the “Purchase Agreement”). The Kinduct Shareholders alleged that the Issuer has breached the Purchase Agreement by failing to make certain payments by March 31, 2022. The remaining amount payable to the Kinduct Shareholders at issue in the matter was approximately $5.2 million that was recorded as a current liability in the December 31, 2022 condensed consolidated balance sheets and such amount was accruing interest at 12% per annum, pursuant to the Purchase Agreement. On December 16, 2022, the Company reached an agreement with the former owners of Kinduct to satisfy in full the remaining balance of the deferred payout, with $1.0 million paid on December 20, 2022 and quarterly installments of $0.5 million due beginning March 31, 2023 unless an Acceleration Event occurs. On February 10, 2023, an Acceleration Event occurred and the Company satisfied the deferred payout liability in full on February 13, 2023. Indemnification The Company has entered into agreements with its current and former executives and directors indemnifying them against certain liabilities incurred in connection with the performance of their duties. The Company’s Certificate of Incorporation and Bylaws contain comparable indemnification obligations with respect to the Company’s current directors and employees. In the normal course of business, the Company periodically enters into agreements that require the Company to indemnify and defend its customers for, among other things, claims alleging that the Company’s products infringe third-party patents or other intellectual property rights as well as personal injury or property damage. The Company’s maximum exposure under these indemnification provisions cannot be estimated but the Company does not believe that there are any matters individually or collectively that would have a material adverse effect on its condensed consolidated results of operations or financial condition.

Restatement and Expanded Disclo

Restatement and Expanded Disclosures	6 Months Ended
	Jun. 30, 2023
Prior Period Adjustment [Abstract]
Restatement and Expanded Disclosures	Restatement and Expanded Disclosures In connection with the financial statements issued for the nine months ended September 30, 2022 on the Company's first amendment to Form S-4, the Company made certain restatements to the year to date financials for the nine months ended September 30, 2022 as further described below, however these restatements also impacted the previously issued financial statements for the six months ended June 30, 2022 on Form S-4 but were not required to be corrected at that time because the Company was not a public reporting entity. Accordingly, the Company has made the below restatements in this quarterly report on Form 10-Q and labeled the income statement column for the six months ended June 30, 2022 as restated. The Company restated its classification of cost of Service revenues to include the costs of the customer support team, infrastructure support team, and costs related to provision of non-recurring engineering services in cost of Service revenues, which were previously recorded in operating expenses as sales and marketing expense or as research and development expense. The reclassifications had no impact to net income or loss. The Company also restated the revenues and long-lived assets breakout by geographical region disclosure in Note 11. Geographic Information and Concentrations of Risk to separately break out the United States and any other individually significant countries to comply with ASC 280-10-50-41. Movella also added a disaggregation of revenues and cost of revenues into Product and Service on the consolidated statements of operations in order to provide expanded disclosures to the readers of the financial statements. The following table depicts the disaggregation of revenues and cost of revenues according to revenue type, as well as the impact of the reclassification of certain operating expenses to cost of Service revenues (in thousands): As Previously Reported Restated and Expanded Six Months Ended June 30, Effect of Change 2022 2022 2022 Revenues Product * $ 15,164 $ 15,164 Service * 2,921 2,921 Total revenues $ 18,085 $ 18,085 $ — Cost of revenues Product * $ 6,773 $ 6,773 Service * 2,250 2,250 Total cost of revenues 8,314 9,023 (709) Gross profit $ 9,771 $ 9,062 $ 709 Operating expenses Research and development $ 8,164 $ 7,809 $ 355 Sales and marketing 7,454 7,100 354 General and administrative 6,477 6,477 — Total operating expenses $ 22,095 $ 21,386 $ 709 * Not reported A typical sales arrangement involves multiple elements, such as sales of the Company’s inertial motion sensor units, motion capture suits, software licenses, professional services, cloud-based subscription, and subscription and support services which entitles customers to unspecified upgrades, patch releases and telephone-based support. The Company’s Product revenues are generally recognized at a point in time, while Service revenues are generally recognized over time. Revenue recognized during the six months ended June 30, 2022 from deferred revenue balances as of December 31, 2021 was $2.0 million. The information in the following tables show the effect of the restatements on information disclosed in Note 11. Geographic Information and Concentrations of Risk (in thousands): Revenues Revenues As Previously Reported Restated Six Months Ended June 30, Effect of Change 2022 2022 2022 Europe $ 5,532 $ 5,464 $ (68) North America 4,850 * (4,850) United States * 5,100 5,100 Asia 7,600 * (7,600) China * 2,869 2,869 Asia, other * 3,442 3,442 Other 103 1,210 1,107 $ 18,085 $ 18,085 $ — * Not reported

Overview and Summary of Signifi

Overview and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation and Principles of Consolidation The information contained herein has been prepared by Movella Holdings Inc. (the “Company”) in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The condensed consolidated financial statements include the accounts of the Company, its wholly-owned and majority-owned subsidiaries, and joint ventures in which the Company is the primary beneficiary.
Consolidation	All significant intercompany accounts and transactions have been eliminated in consolidation.
Reclassification	ReclassificationCertain reclassifications have been made to the Company’s condensed consolidated financial statements for the six months ended June 30, 2022 to conform to the current period’s condensed consolidated financial statement presentation. The reclassifications had no impact on total revenues, expenses, assets, liabilities, stockholders’ deficit, cash flows from operating activities, cash flows from investing activities, or cash flows from financing activities for all periods presented.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Such estimates include, but are not limited to, measurement of valuation allowances relating to accounts receivable, inventories and deferred tax assets; estimates of future payouts for customer incentives and allowances and warranties; uncertain tax positions; incremental borrowing rates; fair values of stock-based compensation, fair value of embedded derivatives, fair value of the Venture Linked Notes, and valuation of common stock, preferred stock and warrants; estimates and assumptions used in connection with business combinations; useful lives of long-lived assets including intangible assets and property and equipment; revenue recognition; and future cash flows used to assess and test for impairment of goodwill
Segment Reporting	Segment Reporting The Company’s Chief Executive Officer (“CEO”) is the Chief Operating Decision Maker (“CODM”). The CODM allocates resources and makes operating decisions based on financial information presented on a consolidated basis. The profitability of the Company’s product group is not a determining factor in allocating resources and the CODM does not evaluate profitability below the level of the consolidated company. Accordingly, the Company has determined that it has a single reportable segment and operating segment structure.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company’s cash and cash equivalents consist of highly liquid investments with insignificant interest rate risk and original maturities of three months or less at the time of purchase. Cash and cash equivalents include demand deposits and money market accounts. Interest is accrued as earned. Cash and cash equivalents are recorded at cost, which approximates fair value.
Debt Instruments	Debt Instruments Venture Linked Notes As permitted under ASC 825, Financial Instruments Debt and equity issuance costs, which primarily consist of direct and incremental banking, legal, accounting, consulting, and printing fees relating to the merger transaction described in Note 4. Reverse Recapitalization
Deferred Payout	Deferred Payout On September 23, 2020, the Company acquired 100% of the issued and outstanding equity of Kinduct Technology, Inc. (“Kinduct”), a privately held company, in the business of developing intelligent health, fitness, and sport performance software. Related to the acquisition of Kinduct the Company agreed to three deferred cash installment payments totaling $10.0 million with a fair value of $9.4 million. The deferred payout schedule was $2.0 million due on March 23, 2021, $2.0 million due on September 23, 2021, and $6.0 million due on March 23, 2022. As of December 31, 2022, the Company had paid $4.0 million for the first two deferred cash installment payments with the remaining $6.0 million of installment payments partially satisfied with an exchange of $1.1 million owed under the deferred payout for convertible notes. See Note 5. Debt and Note 12. Related Party Transactions
Debt and Equity Issuance Costs	Debt Instruments Venture Linked Notes As permitted under ASC 825, Financial Instruments Debt and equity issuance costs, which primarily consist of direct and incremental banking, legal, accounting, consulting, and printing fees relating to the merger transaction described in Note 4. Reverse Recapitalization
Acquired Intangible Assets	Acquired Intangible AssetsThe Company’s intangible assets include developed technology, customer relationships, patents, trademarks and non-compete agreements. Intangible assets are stated at cost less accumulated amortization and are amortized over their estimated useful lives using the straight-line method. Acquired intangible assets and long-lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset group containing these assets may not be recoverable.
Warrant Liabilities	Warrant Liabilities In connection with the Closing, all 596,435 Legacy Movella warrants were net exercised for 546,056 common shares of Legacy Movella which were then converted into 266,880 shares of New Movella common stock based on the Exchange Ratio of approximately 0.4887. Upon the Closing of the Business Combination, the Company assumed 6,500,000 public warrants and 4,250,000 private placement warrants that were previously issued by PFDR. Each public warrant and private placement warrant is exercisable for 1 share of New Movella common stock at an exercise price of $11.50.
Non-marketable Equity Securities	Non-marketable Equity Securities The Company’s non-marketable equity securities primarily comprise of shares of a privately held company which the Company received in 2021 as consideration for a licensing arrangement. The Company does not have significant influence over the privately held company and these equity securities do not have readily determinable fair values, as such the Company accounted for these equity securities using a measurement alternative in accordance with ASC 321, Investments—Equity Securities , which allows entities to measure these investments at cost, less any impairment, adjusted for changes from observable price changes in orderly transactions for identifiable or similar investments of the same issuer. The Company determined that there were no transactions with observable prices related to the non-marketable equity securities, and that there were no indicators of impairment related to the non-marketable equity securities for the six months ended June 30, 2023.
Preferred Stock Redemption and Classification	Preferred Stock Redemption and Classification The Series D-1 convertible redeemable preferred stock (the “Series D-1 Preferred Stock”) contained a liquidation preference whereby holders of the Series D-1 Preferred Stock were entitled to receive consideration equal to their original issue price plus all declared but unpaid dividends, prior to payment to the holders of other series of convertible preferred stock or the holders of common stock. As such, the holders of the Series D-1 Preferred Stock could receive cash entirely while the holders of subordinated equity instruments could receive nothing or cash plus other assets of the company, which is not the same form of consideration as the holders of the Series D-1 Preferred Stock. Likewise, the Series E Preferred Stock has a liquidation preference to the Series D Preferred Stock, Series C Preferred Stock, and Series B and Series A Preferred Stock. The Series D Preferred Stock has a liquidation preference to the Series C Preferred Stock, and Series B and Series A Preferred Stock. The Series C Preferred Stock has a liquidation preference to Series B and Series A Preferred Stock. The Series B and Series A Preferred Stock have a liquidation preference to the Common Stock. The Series D-1 Preferred Stock was redeemable at a price per share equal to the original issue price of $4.5713 per share, plus an amount per share equal to 8% of the original issue price for each year following the original issue date, not more than 60 days after receipt of a written notice from a majority of the Series D-1 shareholders by the Company at any time on or after September 28, 2023. As the preferred stockholders had the ability to control a majority of the votes of the board of directors, a deemed redemption could have occurred that was in the control of the preferred stockholders and outside the control of the Company, and holders of common stock may not have received the same form of consideration as the holders of the preferred stock, the Company concluded that the preferred stock was redeemable at the option of the holder and should be classified in mezzanine equity on the condensed consolidated balance sheets. Upon consummation of the Business Combination Agreement on February 10, 2023, all series of Preferred Stock converted into common stock. Refer to Note 4. Reverse Recapitalization
Lease Accounting	Lease Accounting The Company determines if an arrangement is a lease at inception. The Company’s operating lease agreements are primarily for real estate and are included within right-of-use assets, net, accrued expenses and other current liabilities, and other long-term liabilities on the condensed consolidated balance sheets. The Company elected the practical expedient to combine its lease and related non-lease components for all its leases. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments that do not depend on an index or rate are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. ROU assets also include any lease prepayments made and exclude lease incentives. Many of the Company’s lease agreements include options to extend the lease, which are not included in the Company’s minimum lease terms unless they are reasonably certain to be exercised. Rental expense for lease payments related to operating leases is recognized on a straight-line basis over the lease term.
Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) to replace the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted ASU 2016-13 on January 1, 2023 which did not have a material impact on its condensed consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): June 30, December 31, Raw materials $ 2,622 $ 2,758 Work-in-progress 1,771 1,132 Finished goods 1,955 1,274 $ 6,348 $ 5,164
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): June 30, December 31, Prepaid and financed insurance $ 1,360 $ — Prepaid expenses 1,469 1,029 Value added tax receivable 807 446 Contract assets — 197 Vendor prepaid 143 — Government tax receivables 1,449 1,416 Other assets 176 186 $ 5,404 $ 3,274
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following (in thousands): June 30, December 31, Office equipment $ 156 $ 157 Computer hardware and software 2,115 2,017 Lab equipment 3,250 2,864 Furniture and fixtures 564 545 Leasehold improvements 1,087 1,069 Gross book value 7,172 6,652 Less: accumulated depreciation and amortization (4,480) (4,291) $ 2,692 $ 2,361
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consists of the following (in thousands): June 30, December 31, Accrued compensation and employee benefits $ 1,637 $ 2,999 Accrued professional services 1,895 1,909 Financed insurance 578 — Accrued valued added and other taxes 442 399 Accruals for purchases received 325 751 Current operating lease liabilities 525 593 Accrued TAS legal settlement — 325 Other current liabilities 1,026 968 $ 6,428 $ 7,944

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets at Fair Value	The following table sets forth the Company’s financial assets and liabilities that were measured at fair value, on a recurring basis as of June 30, 2023 (in thousands): June 30, 2023 Level 1 Level 2 Level 3 Total Financial Assets Cash equivalents Money market funds $ 48,067 $ — $ — $ 48,067 Total assets $ 48,067 $ — $ — $ 48,067 Financial Liabilities Venture Linked Notes $ — $ — $ 50,166 $ 50,166 Public warrants 715 — — 715 Private placement warrants — 510 — 510 Total liabilities $ 715 $ 510 $ 50,166 $ 51,391 The following table sets forth the Company’s financial assets and liabilities that were measured at fair value, on a recurring basis as of December 31, 2022 (in thousands): December 31, 2022 Level 1 Level 2 Level 3 Total Financial Assets Cash equivalents Money market funds $ 11 $ — $ — $ 11 Marketable equity securities 2 — — 2 Total assets $ 13 $ — $ — $ 13 Financial Liabilities Pre-Close Notes $ — $ — $ 25,300 $ 25,300 Embedded derivative in convertible notes — — 60 60 Total liabilities $ — $ — $ 25,360 $ 25,360
Schedule of Financial Liabilities at Fair Value	The following table sets forth the Company’s financial assets and liabilities that were measured at fair value, on a recurring basis as of June 30, 2023 (in thousands): June 30, 2023 Level 1 Level 2 Level 3 Total Financial Assets Cash equivalents Money market funds $ 48,067 $ — $ — $ 48,067 Total assets $ 48,067 $ — $ — $ 48,067 Financial Liabilities Venture Linked Notes $ — $ — $ 50,166 $ 50,166 Public warrants 715 — — 715 Private placement warrants — 510 — 510 Total liabilities $ 715 $ 510 $ 50,166 $ 51,391 The following table sets forth the Company’s financial assets and liabilities that were measured at fair value, on a recurring basis as of December 31, 2022 (in thousands): December 31, 2022 Level 1 Level 2 Level 3 Total Financial Assets Cash equivalents Money market funds $ 11 $ — $ — $ 11 Marketable equity securities 2 — — 2 Total assets $ 13 $ — $ — $ 13 Financial Liabilities Pre-Close Notes $ — $ — $ 25,300 $ 25,300 Embedded derivative in convertible notes — — 60 60 Total liabilities $ — $ — $ 25,360 $ 25,360
Schedule of the Fair Value of Venture Linked Notes	The fair value of the Venture Linked Notes was determined using a binomial lattice model with the following key assumptions: June 30, 2023 February 10, 2023 Term 4.6 years 5.0 years Stock price $2.13 per share $8.58 per share Dividend yield — % — % Expected volatility 67.5 % 67.5 % Risk-free rate 4.4 % 3.9 % Risky rate 25.4 % 25.6 % Movement up 1.15 1.15 Movement down 0.87 0.87 Probability up 47.2 % 47.1 % Probability down 52.8 % 52.9 %

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of Outstanding Borrowings	The following table summarizes the outstanding borrowings as of June 30, 2023 and December 31, 2022 (in thousands): June 30, December 31, Venture Linked Notes $ 75,000 $ — Pre-Close Notes — 25,300 Convertible notes - related party — 6,345 ACOA Loans 433 497 Add: fair value of embedded derivative in convertible notes — 60 Less: unamortized debt discounts and issuance costs — (219) Less: fair value adjustment on Venture Linked Notes (24,834) — Total debt $ 50,599 $ 31,983 Classification: Current portion of long-term debt $ 141 $ 148 Long-term portion of term debt 50,458 25,649 Convertible notes, net – related party — 6,186

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table depicts the disaggregation of revenue according to revenue type (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues Product $ 6,550 $ 7,064 $ 14,209 $ 15,164 Service 1,809 1,513 3,317 2,921 Total Revenues $ 8,359 $ 8,577 $ 17,526 $ 18,085

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense by Line Item on the Statement of Operations	Stock-based compensation expense included in the accompanying condensed consolidated statements of operations for the six months ended June 30, 2023 and 2022 are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 80 $ 66 $ 299 $ 114 Sales and marketing 148 91 288 184 General and administrative 265 178 570 350 Total stock-based compensation $ 493 $ 335 $ 1,157 $ 648
Schedule of Stock Option Activity	The following table summarizes the Company’s stock option activity under all plans for the six months ended June 30, 2023: Stock Options Outstanding Weighted-Average Outstanding - December 31, 2022 5,691,018 $ 2.15 Granted 1,402,880 $ 1.46 Exercised (3,970) $ 2.59 Cancelled (54,354) $ 2.71 Expired (23,827) $ 2.59 Balance outstanding at June 30, 2023 7,011,747 $ 2.04 Exercisable at June 30, 2023 3,921,557 $ 1.94
Schedule of RSU activity	The following table summarizes the Company’s RSU activity for the six months ended June 30, 2023: RSUs Non-vested - December 31, 2022 — Granted 1,402,917 Vested — Forfeited (11,428) Non-vested - June 30, 2023 1,391,489

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings per Share	The following table sets forth the computation of the basic and diluted net income (loss) per share attributable to common stockholders for the six months ended June 30, 2023 and 2022 (in thousands except share and per share amounts): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net income (loss) attributable to common stockholders, basic and diluted $ (13,859) $ (7,554) $ 1,661 $ (13,809) Denominator: Weighted-average common shares outstanding for basic EPS 50,876,842 5,098,463 40,710,849 4,815,575 Weighted average dilutive outstanding stock options and awards — — 1,044,936 — Diluted weighted-average common shares outstanding 50,876,842 5,098,463 41,755,785 4,815,575 Net income (loss) per share: Basic net income (loss) per share attributable to common stockholders $ (0.27) $ (1.48) $ 0.04 $ (2.87) Diluted net income (loss) per share attributable to common stockholders $ (0.27) $ (1.48) $ 0.04 $ (2.87)
Schedule of Potentially Dilutive Securities Excluded from Computation of Earnings Per Share	Potentially dilutive securities that were not included in the diluted per share calculations as of June 30, 2023 and 2022 because they would be anti-dilutive were as follows: Six Months Ended June 30, 2023 2022 Convertible preferred stock 6,248,301 27,543,266 Outstanding stock options 3,784,702 5,540,332 Convertible notes (a) 147,653 629,208 Legacy Movella Common stock warrants (1:1) — 291,502 Legacy Movella Preferred stock warrants (1:1) — 24,437 Public warrants (1:1) 6,499,961 — Private placement warrants (1:1) 4,250,000 — Total 20,930,617 34,028,745 (a) Assumes conversion at $9.80 per share.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Maturity of Operating Lease Liabilities	The aggregate future non-cancelable minimum rental payments for the Company’s operating leases, as of June 30, 2023, are as follows (in thousands): 2023 (remainder) $ 465 2024 832 2025 662 2026 626 2027 572 2028 572 Thereafter 1,237 Total minimum operating lease payments $ 4,966 Less: Amounts representing interest (1,831) Present value of net minimum operating lease payments 3,135 Less: Current portion (525) Long-term portion of operating lease obligations $ 2,610
Summary of Lease Cost	The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification June 30, December 31, Right-of-use assets, net Right-of-use assets, net $ 3,134 $ 3,281 Current operating lease liabilities Accrued expenses and other current liabilities (525) (593) Non-current operating lease liabilities Operating lease liabilities and other non-current liabilities (2,610) (2,688) Total operating lease liabilities $ (3,135) $ (3,281) Weighted average remaining lease term (in years) 6.9 7.0 Weighted-average discount rate 14 % 14 % The components of lease cost were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease costs included in operating costs and expenses: Operating leases $ 262 $ 334 $ 623 $ 651 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows related to operating leases $ 260 $ 364 $ 560 $ 730 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 219 $ — $ 219 $ 4,280

Geographic Information and Co_2

Geographic Information and Concentrations of Risk (Tables)	6 Months Ended
	Jun. 30, 2023
Risks and Uncertainties [Abstract]
Schedule of Revenue by Geographic Region	The Company’s revenues by geographical region is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 United States $ 2,218 $ 2,790 $ 4,222 $ 5,100 China 1,723 1,518 3,376 2,869 Asia, excluding China 1,450 1,663 3,052 3,442 Europe 2,032 2,564 4,746 5,464 Other 936 42 2,130 1,210 $ 8,359 $ 8,577 $ 17,526 $ 18,085

Restatement and Expanded Disc_2

Restatement and Expanded Disclosures (Tables)	6 Months Ended
	Jun. 30, 2023
Prior Period Adjustment [Abstract]
Schedule of Reclassifications and Adjustments	The following table depicts the disaggregation of revenues and cost of revenues according to revenue type, as well as the impact of the reclassification of certain operating expenses to cost of Service revenues (in thousands): As Previously Reported Restated and Expanded Six Months Ended June 30, Effect of Change 2022 2022 2022 Revenues Product * $ 15,164 $ 15,164 Service * 2,921 2,921 Total revenues $ 18,085 $ 18,085 $ — Cost of revenues Product * $ 6,773 $ 6,773 Service * 2,250 2,250 Total cost of revenues 8,314 9,023 (709) Gross profit $ 9,771 $ 9,062 $ 709 Operating expenses Research and development $ 8,164 $ 7,809 $ 355 Sales and marketing 7,454 7,100 354 General and administrative 6,477 6,477 — Total operating expenses $ 22,095 $ 21,386 $ 709 * Not reported The information in the following tables show the effect of the restatements on information disclosed in Note 11. Geographic Information and Concentrations of Risk (in thousands): Revenues Revenues As Previously Reported Restated Six Months Ended June 30, Effect of Change 2022 2022 2022 Europe $ 5,532 $ 5,464 $ (68) North America 4,850 * (4,850) United States * 5,100 5,100 Asia 7,600 * (7,600) China * 2,869 2,869 Asia, other * 3,442 3,442 Other 103 1,210 1,107 $ 18,085 $ 18,085 $ — * Not reported

Overview and Summary of Signi_2

Overview and Summary of Significant Accounting Policies - Merger with Pathfinder Acquisition Corporation (Details) $ in Millions			1 Months Ended	6 Months Ended	12 Months Ended
	Feb. 28, 2023 USD ($)	Feb. 10, 2023 USD ($)	Feb. 28, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Recapitalization exchange ratio		0.4887
Acquisition related costs				$ 29.2
Recapitalization costs	$ 19.7	$ 27.5
Venture Linked Notes
Business Acquisition [Line Items]
Acquisition costs expensed			$ 7.9	$ 7.9	$ 1.6

Overview and Summary of Signi_3

Overview and Summary of Significant Accounting Policies - Join Venture (Details)	Jun. 30, 2023 seat	Jun. 10, 2023 USD ($)	Apr. 06, 2020 USD ($)	Aug. 26, 2018 USD ($)
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Member seats occupied | seat	2
QMICC | Qingdao JV
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Payments for equity interest				$ 16,500,000
Ownership percentage			26%	30%
Golden Maple | Qingdao JV
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Payments for equity interest			$ 8,300,000
Ownership percentage			14%
Variable Interest Entity, Primary Beneficiary
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
VIE, disposal consideration		$ 0
Variable Interest Entity, Primary Beneficiary | Qingdao JV
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
VIE, ownership percentage	23.40%		60%	70%
Variable Interest Entity, Primary Beneficiary | Qingdao JV | QMICC
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
VIE, ownership percentage transferred		10.30%
Variable Interest Entity, Primary Beneficiary | Qingdao JV | Jinhua Jinfeng Enterprise Management Consulting Co.
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
VIE, ownership percentage transferred		26.30%

Overview and Summary of Signi_4

Overview and Summary of Significant Accounting Policies - Liquidity (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 10, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Net loss from operations		$ 7,736	$ 6,817	$ 17,138	$ 12,324
Net cash used in operating activities				14,570	$ 11,183
Cash and cash equivalents		51,008		51,008		$ 14,334
Value of shares purchased	$ 111,000
New Movella Common Stock
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Value of shares purchased	$ 58,000
Subsidiaries | China
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Maximum cash and cash equivalents transfer amount		400		400
Joint Venture Entity | China
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Maximum cash and cash equivalents transfer amount		$ 600		$ 600

Overview and Summary of Signi_5

Overview and Summary of Significant Accounting Policies - Segment Reporting (Details)	6 Months Ended
	Jun. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1
Number of reportable segments	1

Overview and Summary of Signi_6

Overview and Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 51,008	$ 14,334
Non-US
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents	1,500	$ 4,100
Subsidiaries | China
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Maximum cash and cash equivalents transfer amount	400
Joint Venture Entity | China
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Maximum cash and cash equivalents transfer amount	$ 600

Overview and Summary of Signi_7

Overview and Summary of Significant Accounting Policies - Debt Instruments (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Feb. 28, 2023	Jun. 30, 2023	Dec. 31, 2022
Pre-Close Notes
Business Acquisition [Line Items]
Acquisition costs expensed			$ 0.8
Venture Linked Notes
Business Acquisition [Line Items]
Acquisition costs expensed	$ 7.9	$ 7.9	$ 1.6

Overview and Summary of Signi_8

Overview and Summary of Significant Accounting Policies - Deferred Payout (Details) $ in Thousands						6 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 23, 2022 USD ($)	Sep. 23, 2021 USD ($)	Mar. 23, 2021 USD ($)	Sep. 23, 2020 USD ($) payment	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 20, 2022 USD ($)
Business Acquisition [Line Items]
Cash installment, paid amount						$ 4,360	$ 0
Deferred payout, remaining balance paid									$ 1,000
Litigation settlement, amount awarded to other party, quarterly installments	$ 500
Kinduct
Business Acquisition [Line Items]
Ownership percentage					100%
Number of deferred cash installment payments | payment					3
Cash installment payments		$ 6,000	$ 2,000	$ 2,000	$ 10,000
Cash installment payments, fair value					$ 9,400
Cash installment, paid amount								$ 4,000
Cash installment payments, remaining amount								6,000
Exchange of consideration under the deferred payout for convertible notes								$ 1,100
Deferred payouts, interest rate					0.12

Overview and Summary of Signi_9

Overview and Summary of Significant Accounting Policies - Debt and Equity Issuance Costs (Details) - USD ($) $ in Thousands			6 Months Ended
	Feb. 28, 2023	Feb. 10, 2023	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Debt issuance costs			$ 7,945	$ 0
Recapitalization costs	$ 19,700	$ 27,500
Venture Linked Notes
Business Acquisition [Line Items]
Debt issuance costs			$ 7,900

Overview and Summary of Sign_10

Overview and Summary of Significant Accounting Policies - Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment of intangible assets	$ 0	$ 0	$ 4,657	$ 0

Overview and Summary of Sign_11

Overview and Summary of Significant Accounting Policies - Warrant Liabilities (Details) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 10, 2023 $ / shares shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Dec. 31, 2022 shares
Derivative Instruments, Gain (Loss) [Line Items]
Recapitalization exchange ratio	0.4887
Common stock, shares outstanding (in shares)		50,907,431		50,907,431		6,231,947
Gain on change in fair value of warrant liabilities | $		$ 288	$ 0	$ 1,678	$ 0
New Movella Common Stock
Derivative Instruments, Gain (Loss) [Line Items]
Issuance of common stock upon conversion (in shares)	266,880
Public and Private Warrant
Derivative Instruments, Gain (Loss) [Line Items]
Exercise price of warrants (in dollars per share) | $ / shares	$ 11.50
Public and Private Warrant | New Movella Common Stock
Derivative Instruments, Gain (Loss) [Line Items]
Common stock, shares outstanding (in shares)	1
Public Warrants
Derivative Instruments, Gain (Loss) [Line Items]
Warrants outstanding (in shares)	6,500,000
Private Warrants
Derivative Instruments, Gain (Loss) [Line Items]
Warrants outstanding (in shares)	4,250,000
Legacy Movella Warrants
Derivative Instruments, Gain (Loss) [Line Items]
Warrants outstanding (in shares)	596,435
Legacy Movella Common Stock
Derivative Instruments, Gain (Loss) [Line Items]
Warrants outstanding (in shares)	546,056

Overview and Summary of Sign_12

Overview and Summary of Significant Accounting Policies - Preferred Stock Redemption and Classification (Details) - Series D-1 Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2023 $ / shares
Class of Stock [Line Items]
Share issued (in dollars per share)	$ 4.5713
Percentage of original issue price	0.08
Maximum days after receipt of a written notice	60 days

Balance Sheet Components - Inve

Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 2,622		$ 2,758
Work-in-progress	1,771		1,132
Finished goods	1,955		1,274
Inventory, net	6,348		$ 5,164
Provision for excess and obsolete inventories	$ 241	$ 0

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid and financed insurance	$ 1,360	$ 0
Prepaid expenses	1,469	1,029
Value added tax receivable	807	446
Contract assets	0	197
Vendor prepaid	143	0
Government tax receivables	1,449	1,416
Other assets	176	186
Prepaid expenses and other current assets	$ 5,404	$ 3,274

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Gross book value	$ 7,172		$ 6,652
Less: accumulated depreciation and amortization	(4,480)		(4,291)
Property and equipment, net	2,692		2,361
Depreciation and amortization, expense	400	$ 400
Office equipment
Property, Plant and Equipment [Line Items]
Gross book value	156		157
Computer hardware and software
Property, Plant and Equipment [Line Items]
Gross book value	2,115		2,017
Lab equipment
Property, Plant and Equipment [Line Items]
Gross book value	3,250		2,864
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross book value	564		545
Leasehold improvements
Property, Plant and Equipment [Line Items]
Gross book value	$ 1,087		$ 1,069

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation and employee benefits	$ 1,637	$ 2,999
Accrued professional services	1,895	1,909
Financed insurance	578	0
Accrued valued added and other taxes	442	399
Accruals for purchases received	325	751
Current operating lease liabilities	525	593
Accrued TAS legal settlement	0	325
Other current liabilities	1,026	968
Accrued expenses and other current liabilities	$ 6,428	$ 7,944
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Feb. 10, 2023	Dec. 31, 2022
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants	$ 1,225		$ 1,225			$ 0
Gain on change in fair value of warrant liabilities	288	$ 0	1,678	$ 0
Gain on revaluation of debt, net	(7,292)	$ 0	24,576	0
Notes Payable, Other Payables
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Principal amount	75,000		75,000
Fair Value, Recurring | Venture Linked and Pre-Close Notes
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain on revaluation of debt, net			(24,600)	$ 0
Fair Value, Recurring | Public Warrants
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants	715		715		$ 1,800
Gain on change in fair value of warrant liabilities			1,100
Fair Value, Recurring | Private Warrants
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants	$ 510		510		$ 1,100
Gain on change in fair value of warrant liabilities			$ 600

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Feb. 10, 2023	Dec. 31, 2022
Financial Liabilities
Warrants	$ 1,225		$ 0
Embedded derivative in convertible notes	0		60
Fair Value, Recurring
Financial Assets
Marketable equity securities			2
Total assets	48,067		13
Financial Liabilities
Embedded derivative in convertible notes			60
Total liabilities	51,391		25,360
Fair Value, Recurring | Public Warrants
Financial Liabilities
Warrants	715	$ 1,800
Fair Value, Recurring | Private Warrants
Financial Liabilities
Warrants	510	$ 1,100
Fair Value, Recurring | Venture Linked Notes
Financial Liabilities
Notes	50,166		0
Fair Value, Recurring | Pre-Close Notes
Financial Liabilities
Notes			25,300
Fair Value, Recurring | Money market funds
Financial Assets
Money market funds	48,067		11
Fair Value, Recurring | Level 1
Financial Assets
Marketable equity securities			2
Total assets	48,067		13
Financial Liabilities
Embedded derivative in convertible notes			0
Total liabilities	715		0
Fair Value, Recurring | Level 1 | Public Warrants
Financial Liabilities
Warrants	715
Fair Value, Recurring | Level 1 | Private Warrants
Financial Liabilities
Warrants	0
Fair Value, Recurring | Level 1 | Venture Linked Notes
Financial Liabilities
Notes	0
Fair Value, Recurring | Level 1 | Pre-Close Notes
Financial Liabilities
Notes			0
Fair Value, Recurring | Level 1 | Money market funds
Financial Assets
Money market funds	48,067		11
Fair Value, Recurring | Level 2
Financial Assets
Marketable equity securities			0
Total assets	0		0
Financial Liabilities
Embedded derivative in convertible notes			0
Total liabilities	510		0
Fair Value, Recurring | Level 2 | Public Warrants
Financial Liabilities
Warrants	0
Fair Value, Recurring | Level 2 | Private Warrants
Financial Liabilities
Warrants	510
Fair Value, Recurring | Level 2 | Venture Linked Notes
Financial Liabilities
Notes	0
Fair Value, Recurring | Level 2 | Pre-Close Notes
Financial Liabilities
Notes			0
Fair Value, Recurring | Level 2 | Money market funds
Financial Assets
Money market funds	0		0
Fair Value, Recurring | Level 3
Financial Assets
Marketable equity securities			0
Total assets	0		0
Financial Liabilities
Embedded derivative in convertible notes			60
Total liabilities	50,166		25,360
Fair Value, Recurring | Level 3 | Public Warrants
Financial Liabilities
Warrants	0
Fair Value, Recurring | Level 3 | Private Warrants
Financial Liabilities
Warrants	0
Fair Value, Recurring | Level 3 | Venture Linked Notes
Financial Liabilities
Notes	50,166
Fair Value, Recurring | Level 3 | Pre-Close Notes
Financial Liabilities
Notes			25,300
Fair Value, Recurring | Level 3 | Money market funds
Financial Assets
Money market funds	$ 0		$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of the Fair Value of Venture Linked Notes (Details) - Venture Linked Notes	Jun. 30, 2023 movement yr $ / shares	Feb. 10, 2023 movement $ / shares yr
Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs | yr	4.6	5
Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs | $ / shares	2.13	8.58
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0	0
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.675	0.675
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.044	0.039
Risky rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.254	0.256
Movement up
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	1.15	1.15
Movement down
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.87	0.87
Probability up
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.472	0.471
Probability down
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.528	0.529

Reverse Recapitalization - Narr

Reverse Recapitalization - Narrative (Details) $ / shares in Units, $ in Thousands					6 Months Ended
	Feb. 28, 2023 USD ($)	Feb. 10, 2023 USD ($) $ / shares shares	Jan. 04, 2023 shares	Nov. 14, 2022 shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Dec. 31, 2022 shares
Business Acquisition [Line Items]
Recapitalization exchange ratio		0.4887
Value of shares purchased | $		$ 111,000
Recapitalization costs | $	$ 19,700	$ 27,500
Repayment of loans using proceeds from Venture Linked Notes | $					$ 25,557	$ 0
Common stock, shares outstanding (in shares)					50,907,431		6,231,947
Common stock, shares issued (in shares)					50,907,431		6,231,947
Legacy Movella Options
Business Acquisition [Line Items]
Options, granted and outstanding (in shares)		11,637,195
New Movella Options
Business Acquisition [Line Items]
Options converted, reverse recapitalization (in shares)		5,687,048
Pathfinder Trust
Business Acquisition [Line Items]
Value of shares purchased | $		$ 36,000
Venture Linked Notes
Business Acquisition [Line Items]
Debt instrument, term				5 years
Value of shares purchased | $		75,000
Repayment of loans using proceeds from Venture Linked Notes | $		25,600
Pre-Close Notes
Business Acquisition [Line Items]
Repayment of loans using proceeds from Venture Linked Notes | $		$ 25,600
Convertible Notes | Related Party
Business Acquisition [Line Items]
Issuance of common stock upon conversion (in shares)		651,840
Legacy Movella Warrants
Business Acquisition [Line Items]
Warrants outstanding, exercised (in shares)		596,435
Warrants outstanding (in shares)		596,435
Warrants exercised (in shares)		546,056
Legacy Movella Warrants | Related Party
Business Acquisition [Line Items]
Issuance of common stock upon conversion (in shares)		266,880
Public Warrants
Business Acquisition [Line Items]
Warrants outstanding (in shares)		6,500,000
Legacy Movella Redeemable Convertible Preferred Stock
Business Acquisition [Line Items]
Shares outstanding (in shares)		56,361,224
Legacy Movella Common Stock
Business Acquisition [Line Items]
Issuance of common stock in connection with business combination, net (in shares)		56,438,820
Stock converted from notes, reverse recapitalization (in shares)		1,333,712
Stock, issued and outstanding (in shares)		71,077,736
Common stock, shares outstanding (in shares)		12,759,148
Legacy Movella Common Stock | Related Party
Business Acquisition [Line Items]
Stock converted, reverse recapitalization (in shares)		6,235,917
Stock converted from redeemable convertible preferred stock, reverse recapitalization (in shares)		27,583,963
New Movella Common Stock
Business Acquisition [Line Items]
Value of shares purchased | $		$ 58,000
Stock converted, reverse recapitalization (in shares)		7,500,000
Issuance of common stock upon conversion (in shares)		266,880
Stock acquired, reverse recapitalization (in shares)		1
Price per share (in dollars per share) | $ / shares		$ 11.50
New Movella Common Stock | Related Party
Business Acquisition [Line Items]
Stock converted, reverse recapitalization (in shares)		34,738,600
FP Shares
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)		7,500,000
FP Purchasers | New Movella Common Stock
Business Acquisition [Line Items]
Stock converted, reverse recapitalization (in shares)		1,000,000
FP Purchasers | New Movella Common Stock | Equity Grant Agreement
Business Acquisition [Line Items]
Number of units issued by the company (in shares)				1,000,000
FP Purchasers | New Movella Common Stock | Note Purchase Agreement
Business Acquisition [Line Items]
Number of units issued by the company (in shares)			7,500,000	7,500,000
FP Purchasers | Class A Ordinary Shares
Business Acquisition [Line Items]
Number of units issued by the company (in shares)			0
FP Purchasers | FP Shares
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)		1,000,000
Pathfinder | Private Placement Warrants
Business Acquisition [Line Items]
Warrants outstanding (in shares)		4,250,000
Pathfinder | New Movella Warrants
Business Acquisition [Line Items]
Private warrants converted, reverse recapitalization (in shares)		4,250,000
Public warrants converted, reverse recapitalization (in shares)		6,500,000
Pathfinder | Public Warrants
Business Acquisition [Line Items]
Warrants outstanding (in shares)		6,500,000
Pathfinder | New Movella Common Stock
Business Acquisition [Line Items]
Stock converted, reverse recapitalization (in shares)		3,568,831
Remaining stock converted, reverse recapitalization (in shares)		4,100,000
Pathfinder | Class A Ordinary Shares
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)		3,568,831
Stock redeemed, reverse recapitalization (in shares)		28,931,169
Pathfinder | Class B Ordinary Shares
Business Acquisition [Line Items]
Shares forfeited, reverse recapitalization, percent		0.50
Shares forfeited, reverse recapitalization (in shares)		4,025,000
Stock, issued and outstanding, remaining shares (in shares)		4,100,000

Debt - Summary of Outstanding B

Debt - Summary of Outstanding Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Add: fair value of embedded derivative in convertible notes	$ 0	$ 60
Less: unamortized debt discounts and issuance costs	0	(219)
Less: fair value adjustment on Venture Linked Notes	(24,834)	0
Total debt	50,599	31,983
Current portion of long-term debt	141	148
Long-term portion of term debt	50,458	25,649
Related Party
Debt Instrument [Line Items]
Convertible notes, net – related party	0	6,186
Venture Linked Notes
Debt Instrument [Line Items]
Long-term debt, gross	75,000	0
Pre-Close Notes
Debt Instrument [Line Items]
Long-term debt, gross	0	25,300
Convertible notes - related party
Debt Instrument [Line Items]
Long-term debt, gross	0	6,345
ACOA Loans
Debt Instrument [Line Items]
Long-term debt, gross	$ 433	$ 497

Debt - Pre-Merger Senior Secure

Debt - Pre-Merger Senior Secured Notes and Venture Linked Notes (Details) - Note Purchase Agreement - USD ($) $ in Millions	Feb. 10, 2023	Nov. 14, 2022
Senior Secured Notes and Senior Secured Venture Linked Notes
Debt Instrument [Line Items]
Interest rate		9.25%
Long-term debt, term	5 years
Senior Secured Notes
Debt Instrument [Line Items]
Principal amount		$ 25
Senior Secured Venture Linked Notes
Debt Instrument [Line Items]
Principal amount		$ 75

Debt - ACOA Loan (Details)

Debt - ACOA Loan (Details) - Term Loan - ACOA Loan - USD ($)	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2023
Debt Instrument [Line Items]
Monthly repayment amount	$ 200
Total debt	$ 500,000	$ 400,000

Debt - Convertible notes - rela

Debt - Convertible notes - related party (Details) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 10, 2023 $ / shares shares	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of convertible notes					$ 0	$ 4,873
Recapitalization exchange ratio	0.4887
Interest expense			$ 8	$ 655	180	$ 1,055
Related Party
Debt Instrument [Line Items]
Conversion price (in dollars per share) | $ / shares	$ 9.80
Repayment of notes, principal and interest multiplication factor	1.50
Convertible Notes
Debt Instrument [Line Items]
Convertible notes		$ 1,100
Interest expense					100
Convertible Notes | Related Party
Debt Instrument [Line Items]
Proceeds from issuance of convertible notes		4,900
Convertible notes		1,000
Deferred payout liability, payment		$ 1,100
Related party transactions, interest rate		6%
Interest expense					$ 100
Percentage of debt converted into equity	1
Issuance of common stock upon conversion (in shares) | shares	651,840

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from External Customer [Line Items]
Total revenues	$ 8,359	$ 8,577	$ 17,526	$ 18,085
Revenue recognized form prior year deferred revenue			1,900	2,000
Product
Revenue from External Customer [Line Items]
Total revenues	6,550	7,064	14,209	15,164
Service
Revenue from External Customer [Line Items]
Total revenues	$ 1,809	$ 1,513	$ 3,317	$ 2,921

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock-based Compensation Expense by Line Item on the Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 493	$ 335	$ 1,157	$ 648
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	80	66	299	114
Sales and marketing
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	148	91	288	184
General and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 265	$ 178	$ 570	$ 350

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($) $ in Millions			6 Months Ended
	Oct. 31, 2022	Dec. 31, 2017	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jan. 31, 2022	Sep. 30, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Per share exercise price as a percentage of fair value, minimum			110%
Common stock, shares outstanding (in shares)			50,907,431		6,231,947
Cost not yet recognized			$ 5.8
Compensation cost not yet recognized, weighted-average period			2 years 6 months 10 days
Employee Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum shares allowed to be purchased under ESPP (in shares)			1,017,550
Percentage of outstanding shares of common stock			0.01
Common stock, potential additional shares authorized			508,775
Shares issued under the ESPP (in shares)			0	0
Employee's requisite service period			5 years
Restricted Stock Units (RSUs) | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period			3 years
Restricted Stock Units (RSUs) | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period			4 years
2009 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award term period			ten-year
Award vesting period			5 years
2009 Equity Incentive Plan | Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units, issued (in shares)		1,348,887
Restricted stock units, vested (in shares)		1,348,887
2019 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)							5,500,000
Increase (decrease) in the number of common stock reserved for future issuance (in shares)						1,500,000
2022 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Annual share increase, term	10 years
Annual share increase, percentage of outstanding shares	5%
Shares available for future grant (in shares)			4,330,015
2022 Equity Incentive Plan | New Movella Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares outstanding (in shares)	6,105,301
2022 Employee Stock Purchase Plan | Employee Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Per share exercise price as a percentage of fair value, minimum			85%
Maximum employee subscription rate			15%

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, outstanding (in shares) | shares	5,691,018
Granted (in shares) | shares	1,402,880
Exercised (in shares) | shares	(3,970)
Cancelled (in shares) | shares	(54,354)
Expired (in shares) | shares	(23,827)
Ending balance, outstanding (in shares) | shares	7,011,747
Ending balance, exercisable (in shares) | shares	3,921,557
Weighted-Average Exercise Price
Beginning balance, outstanding (in dollars per share) | $ / shares	$ 2.15
Granted (in dollars per share) | $ / shares	1.46
Exercised (in dollars per share) | $ / shares	2.59
Cancelled (in dollars per share) | $ / shares	2.71
Expired (in dollars per share) | $ / shares	2.59
Ending balance, outstanding (in dollars per share) | $ / shares	2.04
Ending balance, exercisable (in dollars per share) | $ / shares	$ 1.94

Schedule of RSU activity (Detai

Schedule of RSU activity (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2023 shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested, beginning balance (in shares)	0
Granted (in shares)	1,402,917
Vested (in shares)	0
Forfeited (in shares)	(11,428)
Non-vested, ending balance (in shares)	1,391,489

Net Income (Loss) per Share - S

Net Income (Loss) per Share - Schedule of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income (loss)	$ (13,859)	$ (7,554)	$ 1,661	$ (13,809)
Net loss attributable to common stockholders, diluted	$ (13,859)	$ (7,554)	$ 1,661	$ (13,809)
Denominator:
Weighted-average common shares outstanding for basic EPS (in shares)	50,876,842	5,098,463	40,710,849	4,815,575
Weighted average shares from preferred stock converted into common shares (in shares)	0	0	1,044,936	0
Weighted average shares outstanding, diluted (in shares)	50,876,842	5,098,463	41,755,785	4,815,575
Basic net income (loss) per share attributable to common stockholders (in dollars per share)	$ (0.27)	$ (1.48)	$ 0.04	$ (2.87)
Diluted net income (loss) per share attributable to common stockholders (in dollars per share)	$ (0.27)	$ (1.48)	$ 0.04	$ (2.87)

Net Income (Loss) per Share -_2

Net Income (Loss) per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Earnings Per Share (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	20,930,617	34,028,745
Conversion price (in dollars per share)	$ 9.80	$ 9.80
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	6,248,301	27,543,266
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,784,702	5,540,332
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	147,653	629,208
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	0	291,502
Preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	0	24,437
Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	6,499,961	0
Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,250,000	0

Leases - Schedule of Maturity o

Leases - Schedule of Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Maturity of Lease Liabilities
2023 (remainder)	$ 465
2024	832
2025	662
2026	626
2027	572
2028	572
Thereafter	1,237
Total minimum operating lease payments	4,966
Less: Amounts representing interest	(1,831)
Present value of net minimum operating lease payments	3,135	$ 3,281
Less: Current portion	(525)	(593)
Long-term portion of operating lease obligations	$ 2,610	$ 2,688

Leases - Summary of Right-of-Us

Leases - Summary of Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Right-of-use assets, net	$ 3,134	$ 3,281
Current operating lease liabilities	(525)	(593)
Non-current operating lease liabilities	(2,610)	(2,688)
Total operating lease liabilities	$ (3,135)	$ (3,281)
Weighted average remaining lease term (in years)	6 years 10 months 24 days	7 years
Weighted-average discount rate	14%	14%
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities

Leases - Summary of Lease Cost

Leases - Summary of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating lease costs included in operating costs and expenses:
Operating leases	$ 262	$ 334	$ 623	$ 651
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows related to operating leases	260	364	560	730
Right-of-use assets obtained in exchange for operating lease liabilities	$ 219	$ 0	$ 219	$ 4,280

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 71	$ (337)	$ 129	$ (322)
Effective tax rate	1%	(5.00%)	7%	(2.00%)
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 24,800		$ 24,800
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 15,700		$ 15,700

Geographic Information and Co_3

Geographic Information and Concentrations of Risk - Narrative (Details) - Number of Suppliers - Supplier Concentration Risk - Single Supplier - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Concentration Risk [Line Items]
Concentration risk	27%	18%
Inventory purchases	$ 3.5	$ 2.3

Geographic Information and Co_4

Geographic Information and Concentrations of Risk - Schedule of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 8,359	$ 8,577	$ 17,526	$ 18,085
Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Total revenues	8,359	8,577	17,526	18,085
Revenue Benchmark | Geographic Concentration Risk | United States
Disaggregation of Revenue [Line Items]
Total revenues	2,218	2,790	4,222	5,100
Revenue Benchmark | Geographic Concentration Risk | China
Disaggregation of Revenue [Line Items]
Total revenues	1,723	1,518	3,376	2,869
Revenue Benchmark | Geographic Concentration Risk | Asia, excluding China
Disaggregation of Revenue [Line Items]
Total revenues	1,450	1,663	3,052	3,442
Revenue Benchmark | Geographic Concentration Risk | Europe
Disaggregation of Revenue [Line Items]
Total revenues	2,032	2,564	4,746	5,464
Revenue Benchmark | Geographic Concentration Risk | Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 936	$ 42	$ 2,130	$ 1,210

Related Party Transactions (Det

Related Party Transactions (Details) $ / shares in Units, $ in Thousands		1 Months Ended	6 Months Ended
	Feb. 10, 2023 $ / shares shares	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Related Party Transaction [Line Items]
Proceeds from issuance of convertible notes			$ 0	$ 4,873
Recapitalization exchange ratio	0.4887
Related Party
Related Party Transaction [Line Items]
Conversion price (in dollars per share) | $ / shares	$ 9.80
Repayment of notes, principal and interest multiplication factor	1.50
Convertible Notes
Related Party Transaction [Line Items]
Convertible notes		$ 1,100
Convertible Notes | Related Party
Related Party Transaction [Line Items]
Proceeds from issuance of convertible notes		4,900
Convertible notes		1,000
Deferred payout liability, payment		$ 1,100
Related party transactions, interest rate		6%
Percentage of debt converted into equity	1
Issuance of common stock upon conversion (in shares) | shares	651,840

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($) $ in Thousands		1 Months Ended
	Mar. 31, 2023	Jan. 31, 2023	Dec. 31, 2022	Dec. 20, 2022	Feb. 28, 2020
Loss Contingencies [Line Items]
Deferred payout, remaining balance paid				$ 1,000
Litigation settlement, amount awarded to other party, quarterly installments	$ 500
Tactical Air Support (TAS) | Pending Litigation | Alleged Tort and Contract Based Cause
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss					$ 40
Tactical Air Support (TAS) | Settled Litigation | Alleged Tort and Contract Based Cause
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party		$ 300
Kinduct | Settled Litigation
Loss Contingencies [Line Items]
Loss contingency, annual interest rate			12%
Kinduct | Settled Litigation | Failure To Make Payments
Loss Contingencies [Line Items]
Loss contingency, amount payable			$ 5,200

Restatement and Expanded Disc_3

Restatement and Expanded Disclosures - Disaggregation of Revenues and Cost of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	$ 8,359	$ 8,577	$ 17,526	$ 18,085
Total cost of revenues	3,915	4,321	7,486	9,023
Gross profit	4,444	4,256	10,040	9,062
Research and development	2,203	4,273	5,107	7,809
Sales and marketing	3,785	3,660	7,265	7,100
General and administrative	6,192	3,140	10,149	6,477
Total operating expenses	12,180	11,073	27,178	21,386
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				18,085
Total cost of revenues				8,314
Gross profit				9,771
Research and development				8,164
Sales and marketing				7,454
General and administrative				6,477
Total operating expenses				22,095
Effect of Reclassification
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				0
Total cost of revenues				(709)
Gross profit				709
Research and development				355
Sales and marketing				354
General and administrative				0
Total operating expenses				709
Product
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	6,550	7,064	14,209	15,164
Total cost of revenues	2,971	3,184	5,332	6,773
Product | Effect of Reclassification
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				15,164
Total cost of revenues				6,773
Service
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	1,809	1,513	3,317	2,921
Total cost of revenues	$ 944	$ 1,137	$ 2,154	2,250
Service | Effect of Reclassification
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				2,921
Total cost of revenues				$ 2,250

Restatement and Expanded Disc_4

Restatement and Expanded Disclosures -Restatement of Geographic Information and Concentrations of Risk (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	$ 8,359	$ 8,577	$ 17,526	$ 18,085
Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	8,359	8,577	17,526	18,085
Europe | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	2,032	2,564	4,746	5,464
United States | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	2,218	2,790	4,222	5,100
China | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	1,723	1,518	3,376	2,869
Asia, excluding China | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	1,450	1,663	3,052	3,442
Other | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues	$ 936	$ 42	$ 2,130	1,210
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				18,085
As Previously Reported | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				18,085
As Previously Reported | Europe | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				5,532
As Previously Reported | North America | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				4,850
As Previously Reported | Asia | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				7,600
As Previously Reported | Other | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				103
Effect of Restatements | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				0
Effect of Restatements | Europe | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				(68)
Effect of Restatements | North America | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				(4,850)
Effect of Restatements | United States | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				5,100
Effect of Restatements | Asia | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				(7,600)
Effect of Restatements | China | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				2,869
Effect of Restatements | Asia, excluding China | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				3,442
Effect of Restatements | Other | Revenue Benchmark | Geographic Concentration Risk
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenues				$ 1,107