Heliogen (HLGN) 10-Q 8 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Sep. 30, 2022
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40209
Entity Registrant Name	Heliogen, Inc.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001840292
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-4204953
Entity Address, Address Line One	130 West Union Street
Entity Address, City or Town	Pasadena
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91103
City Area Code	626
Local Phone Number	720-4530
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	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		191,442,304
Common stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	HLGN
Security Exchange Name	NYSE
Warrants
Document Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for shares of Common stock at an exercise price of $11.50 per share
Trading Symbol	HLGN.W
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 35,444	$ 190,081
Restricted cash	655	0
Investments, available-for-sale (amortized cost of $129,344 and $32,349, respectively)	124,034	32,332
Receivables	6,585	3,896
Prepaid and other current assets	6,121	874
Total current assets	172,839	227,183
Operating lease right-of-use assets	15,165	16,093
Property, plant, and equipment, net of accumulated depreciation of $2,012 and $707, respectively	10,092	4,102
Goodwill	926	4,204
Intangible assets, net of accumulated amortization of $579 and $27, respectively	3,232	147
Restricted cash	1,500	1,500
Other long-term assets	13,809	4,219
Total assets	217,563	257,448
LIABILITIES AND SHAREHOLDERS’ EQUITY
Trade payables	2,335	4,645
Contract liabilities	8,540	513
Contract loss provisions	30,526	397
Accrued expenses and other current liabilities	7,410	6,974
Total current liabilities	48,811	12,529
Debt	22	35
Operating lease liabilities, net of current portion	14,361	14,183
Warrant liability	1,885	14,563
Other long-term liabilities	1,233	2,080
Total liabilities	66,312	43,390
Commitments and contingencies (see Note 9)
Convertible preferred stock – $0.0001 par value; 10,000,000 shares authorized and no shares outstanding as of September 30, 2022 and December 31, 2021	0	0
Shareholders’ equity
Common stock, $0.0001 par value; 500,000,000 shares authorized; 191,269,480 shares issued and outstanding (excluding restricted shares of 135,271) as of September 30, 2022 and 183,367,037 shares issued and outstanding (excluding restricted shares of 481,301) as of December 31, 2021	19	18
Additional paid-in capital	425,851	380,624
Accumulated other comprehensive loss	(1,025)	(4)
Accumulated deficit	(273,594)	(166,580)
Total shareholders’ equity	151,251	214,058
Total liabilities, convertible preferred stock and shareholders’ equity	$ 217,563	$ 257,448

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Amortized cost	$ 129,344	$ 32,349
Accumulated depreciation	2,012	707
Intangible assets, accumulated amortization	$ 579	$ 27
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	191,269,480	183,367,037
Common stock, shares outstanding	191,269,480	183,367,037
Restricted shares
Unvested equity instrument outstanding (in shares)	135,271	481,301

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Services revenue	$ 1,367,000	$ 2,202,000	$ 4,375,000	$ 3,563,000
Grant revenue	1,733,000	0	4,656,000	0
Total revenue	3,100,000	2,202,000	9,031,000	3,563,000
Cost of revenue:
Cost of services revenue (excluding depreciation and amortization)	1,690,000	1,375,000	5,668,000	2,736,000
Cost of grant revenue	1,733,000	0	4,656,000	0
Provision for contract losses	0	0	33,737,000	0
Total cost of revenue	3,423,000	1,375,000	44,061,000	2,736,000
Gross profit (loss)	(323,000)	827,000	(35,030,000)	827,000
Operating expenses:
Selling, general, and administrative	18,268,000	8,687,000	60,733,000	15,099,000
Research and development	11,168,000	4,618,000	26,448,000	8,891,000
Total operating expenses	29,436,000	13,305,000	87,181,000	23,990,000
Operating loss	(29,759,000)	(12,478,000)	(122,211,000)	(23,163,000)
Interest income, net	259,000	197,000	666,000	407,000
SAFE instruments remeasurement	0	(15,533,000)	0	(62,993,000)
Gain (loss) on warrant remeasurement	369,000	(322,000)	12,679,000	(2,604,000)
Other income (expense), net	1,256,000	(140,000)	1,071,000	(312,000)
Net loss before taxes	(27,875,000)	(28,276,000)	(107,795,000)	(88,665,000)
Income tax benefit	46,000	0	781,000	0
Net loss	(27,829,000)	(28,276,000)	(107,014,000)	(88,665,000)
Other comprehensive income (loss), net of taxes
Unrealized (losses) gains on available-for-sale securities	(18,000)	7,000	(524,000)	(7,000)
Cumulative translation adjustment	(173,000)	(57,000)	(497,000)	(57,000)
Total comprehensive loss	$ (28,020,000)	$ (28,326,000)	$ (108,035,000)	$ (88,729,000)
Loss per share:
Loss per share – Basic (in dollars per share)	$ (0.14)	$ (2.45)	$ (0.57)	$ (8.32)
Loss per share – Diluted (in dollars per share)	$ (0.14)	$ (2.45)	$ (0.57)	$ (8.32)
Weighted average number of shares outstanding – Basic	192,580,125	11,545,919	188,827,770	10,650,897
Weighted average number of shares outstanding – Diluted	192,580,125	11,545,919	188,827,770	10,650,897
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Service [Member]	Service [Member]	Service [Member]	Service [Member]

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Shareholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Initially reported	Retroactive application of exchange ratio	Common stock	Common stock Initially reported	Common stock Retroactive application of exchange ratio	Additional paid in capital	Additional paid in capital Initially reported	Additional paid in capital Retroactive application of exchange ratio	Accumulated other comprehensive loss	Accumulated other comprehensive loss Initially reported	Accumulated other comprehensive loss Retroactive application of exchange ratio	Accumulated deficit	Accumulated deficit Initially reported	Accumulated deficit Retroactive application of exchange ratio
Temporary equity, beginning balance (in shares) at Dec. 31, 2020	117,886,982	58,554,536	59,332,446
Temporary equity, beginning balance at Dec. 31, 2020	$ 45,932	$ 45,932	$ 0
Temporary equity, ending balance (in shares) at Sep. 30, 2021	117,886,982
Temporary equity, ending balance at Sep. 30, 2021	$ 45,932
Beginning balance (in shares) at Dec. 31, 2020				8,160,828	4,053,489	4,107,339
Beginning balance at Dec. 31, 2020	(27,862)	$ (27,862)	$ 0	$ 1	$ 4	$ (3)	$ 1,309	$ 1,306	$ 3	$ 0	$ 0	$ 0	$ (29,172)	$ (29,172)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(88,665)												(88,665)
Other comprehensive loss	(64)									(64)
Share-based compensation	2,049						2,049
Shares issued for stock options exercised (in shares)				3,626,266
Shares issued for stock options exercised	355			$ 1			354
Shares issued for stock warrants exercised (in shares)				199,315
Shares issued for stock warrants exercised	30						30
Ending balance (in shares) at Sep. 30, 2021				11,986,409
Ending balance at Sep. 30, 2021	$ (114,157)			$ 2			3,742			(64)			(117,837)
Temporary equity, beginning balance (in shares) at Jun. 30, 2021	117,886,982
Temporary equity, beginning balance at Jun. 30, 2021	$ 45,932
Temporary equity, ending balance (in shares) at Sep. 30, 2021	117,886,982
Temporary equity, ending balance at Sep. 30, 2021	$ 45,932
Beginning balance (in shares) at Jun. 30, 2021				10,684,355
Beginning balance at Jun. 30, 2021	(87,440)			$ 1			2,134			(14)			(89,561)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(28,276)												(28,276)
Other comprehensive loss	(50)									(50)
Share-based compensation	1,485						1,485
Shares issued for stock options exercised (in shares)				1,302,054
Shares issued for stock options exercised	124			$ 1			123
Ending balance (in shares) at Sep. 30, 2021				11,986,409
Ending balance at Sep. 30, 2021	$ (114,157)			$ 2			3,742			(64)			(117,837)
Temporary equity, beginning balance (in shares) at Dec. 31, 2021	0
Temporary equity, beginning balance at Dec. 31, 2021	$ 0
Temporary equity, ending balance (in shares) at Sep. 30, 2022	0
Temporary equity, ending balance at Sep. 30, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021				183,367,037
Beginning balance at Dec. 31, 2021	214,058			$ 18			380,624			(4)			(166,580)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(107,014)												(107,014)
Other comprehensive loss	(1,021)									(1,021)
Share-based compensation (in shares)				971,954
Share-based compensation	34,478						34,478
Shares issued for stock options exercised (in shares)				6,930,479
Shares issued for stock options exercised	1,057			$ 1			1,056
Shares issued for stock warrants exercised (in shares)				10
Issuance of warrants in connection with vendor agreements	134						134
Issuance of warrants in connection with customer agreements	9,559						9,559
Ending balance (in shares) at Sep. 30, 2022				191,269,480
Ending balance at Sep. 30, 2022	$ 151,251			$ 19			425,851			(1,025)			(273,594)
Temporary equity, beginning balance (in shares) at Jun. 30, 2022	0
Temporary equity, beginning balance at Jun. 30, 2022	$ 0
Temporary equity, ending balance (in shares) at Sep. 30, 2022	0
Temporary equity, ending balance at Sep. 30, 2022	$ 0
Beginning balance (in shares) at Jun. 30, 2022				190,093,226
Beginning balance at Jun. 30, 2022	168,946			$ 19			415,526			(834)			(245,765)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(27,829)												(27,829)
Other comprehensive loss	(191)									(191)
Share-based compensation (in shares)				723,878
Share-based compensation	9,972						9,972
Shares issued for stock options exercised (in shares)				452,376
Shares issued for stock options exercised	142						142
Issuance of warrants in connection with vendor agreements	80						80
Issuance of warrants in connection with customer agreements	131						131
Ending balance (in shares) at Sep. 30, 2022				191,269,480
Ending balance at Sep. 30, 2022	$ 151,251			$ 19			$ 425,851			$ (1,025)			$ (273,594)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (107,014)	$ (88,665)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,289	272
Share-based compensation	34,478	2,049
SAFE instruments remeasurement	0	62,993
Change in fair value of warrants	(12,679)	2,604
Change in fair value of contingent consideration	(1,063)	0
Deferred income taxes	(781)	0
Non-cash operating lease expense	1,199	0
Other non-cash operating activities	90	947
Changes in assets and liabilities:
Receivables	(2,778)	(140)
Prepaid and other current assets	(1,706)	1,170
Other long-term assets	392	(3,864)
Trade payables	(1,061)	1,347
Accrued expenses and other current liabilities	1,128	1,921
Contract liabilities	8,535	1,660
Contract loss provisions	30,235	0
Operating lease liabilities	(810)	(510)
Other long-term liabilities	1	69
Net cash used in operating activities	(49,545)	(18,147)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(7,313)	(1,428)
Purchases of available-for-sale investments	(237,986)	(41,647)
Maturities of available-for-sale investments	75,300	4,300
Sales of available-for-sale investments	65,817	0
Acquisition of HelioHeat, net of cash acquired	0	(1,684)
Net cash used in investing activities	(104,182)	(40,459)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from SAFE instruments, net of issuance costs of $30 thousand	0	83,411
Transaction costs paid related to the Business Combination with Athena	(1,274)	0
Repayments on Paycheck Protection Program loan	0	(411)
Proceeds from exercise of stock options	1,019	355
Proceeds from exercise of common stock warrants	0	30
Other financing costs	0	(1,487)
Net cash (used in) provided by financing activities	(255)	81,898
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(153,982)	23,292
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF THE YEAR	191,581	18,334
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF THE YEAR	37,599	41,626
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	35,444	40,126
Restricted cash (current and long-term)	2,155	1,500
Total cash, cash equivalents and restricted cash	37,599	41,626
Supplemental disclosures:
Cash paid for interest	0	3
Cash paid for amounts included in the measurement of operating lease liabilities	0	483
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	201	16,685
Right-of-use asset removed upon lease termination	306	0
Transaction costs incurred but not yet paid	0	369
Capital expenditures incurred but not yet paid	522	231
Vendor Warrants
Non-cash investing and financing activities:
Fair value of Project Warrants and Collaboration Warrants recognized in equity	134	0
Project Warrants and Collaboration Warrants
Non-cash investing and financing activities:
Fair value of Project Warrants and Collaboration Warrants recognized in equity	$ 9,559	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2021 USD ($)
Statement of Cash Flows [Abstract]
SAFE instrument, issuance costs	$ 30

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Background Heliogen, Inc., along with its subsidiaries (collectively, “Heliogen” or the “Company”), is involved in the development and commercialization of next generation concentrated solar energy. We are developing a modular, artificial intelligence (“AI”)-enabled, concentrated solar energy thermal energy plant that will use an array of mirrors to reflect sunlight and capture, concentrate, store and convert it into cost-effective energy on demand. Unless otherwise indicated or the context requires otherwise, references in our consolidated financial statements to “we,” “our,” “us” and similar expressions refer to Heliogen. Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and include the accounts of Heliogen and the subsidiaries it controls. All material intercompany balances are eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in Heliogen’s Annual Report on Form 10-K/A for the year ended December 31, 2021 filed on May 23, 2022. Certain information and disclosures normally included in annual financial statements have been condensed or omitted in these interim financial statements. In our opinion, the unaudited interim financial statements have been prepared on the same basis as the annual financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary for fair statement. The results of operations for the nine months ended September 30, 2022, are not necessarily indicative of the results of operations to be expected for the full year ending December 31, 2022. Athena Business Combination On December 30, 2021 (the “Closing Date”), Heliogen, Inc., a Delaware corporation (“Legacy Heliogen”), Athena Technology Acquisition Corp., a Delaware corporation (“Athena”), and HelioMax Merger Sub, Inc. (“Merger Sub”), Athena’s direct, wholly-owned subsidiary, consummated the closing of transactions contemplated by the business combination agreement, dated July 6, 2021, by and among Athena, Merger Sub, and Legacy Heliogen (the “Business Combination”). The Business Combination was accounted for as a reverse recapitalization in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations , pursuant to which Athena was treated as the “accounting acquiree” and Legacy Heliogen as the “accounting acquirer” for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination was treated as Legacy Heliogen issuing equity for the net assets of Athena, followed by a recapitalization. The consolidated assets, liabilities, and results of operations of Legacy Heliogen comprise the historical consolidated financial statements of the post combination company, and Athena’s assets, liabilities and results of operations are consolidated with Legacy Heliogen beginning on the acquisition date. Accordingly, for accounting purposes, the condensed consolidated financial statements of the post combination company represent a continuation of the historical consolidated financial statements of Legacy Heliogen, and the net assets of Athena are stated at historical cost, with no goodwill or other intangible assets recorded. In accordance with accounting guidance applicable to these circumstances, the equity structure has been recast in all comparative periods up to the Closing Date to reflect the number of shares of the Company’s common stock, $0.0001 par value per share, issued to Legacy Heliogen’s stockholders in connection with the Business Combination. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Heliogen redeemable convertible preferred stock, common stock, warrants, options, and restricted stock units (“RSU”) prior to the Business Combination have been retroactively recast as shares reflecting the exchange ratio of 2.013 established in the Business Combination. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. On an ongoing basis, we evaluate our estimates, including those related to inputs used to recognize revenue over time, accounting for income taxes, the fair values of share-based compensation, lease liabilities, warrant liabilities, and long-lived asset impairments. Despite our intention to establish accurate estimates and reasonable assumptions, actual results could differ materially from such estimates and assumptions. Reclassifications Certain immaterial prior period amounts have been reclassified to conform to current period presentation. Such changes did not have a material impact on our financial position or results of operation. All dollar amounts (other than per share amounts) in the following disclosures are in thousands of United States dollars, unless otherwise indicated. Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“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

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregated Revenue We disaggregate revenue into the following revenue categories: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Project revenue $ 1,324 $ — $ 4,207 $ — Other services revenue 43 2,202 168 3,563 Total services revenue 1,367 2,202 4,375 3,563 Grant revenue 1,733 — 4,656 — Total revenue $ 3,100 $ 2,202 $ 9,031 $ 3,563 Project revenue consists of amounts recognized under contracts with customers for the development, construction and delivery of commercial-scale concentrated solar energy facilities. Other services revenue consists of amounts recognized under contracts with customers for the provision of engineering, research and development or other similar services in our field of expertise. Revenue recognized during 2022 and 2021 includes commercial, non-governmental customers in the United States and Europe. Pursuant to the terms of the commercial-scale demonstration agreement (the “CSDA”) executed with Woodside Energy (USA) Inc. (“Woodside”) in March 2022, Heliogen will complete the engineering, procurement, and construction of a new 5 MWe concentrated solar energy facility to be built in Mojave, California (the “Facility”) for the customer’s use in testing, research and development. Pursuant to the CSDA, the customer will pay up to $50 million to Heliogen to complete the Facility. The total transaction price for the CSDA is $45.5 million reflecting a reduction in contract price for the fair value of the Project Warrants (defined and discussed further in Note 3) granted to the customer in connection with the CSDA. The CSDA modified and replaced a limited notice to proceed executed in October 2021. For the three and nine months ended September 30, 2022, the CSDA contributed $1.3 million and $4.2 million, respectively, or 97% and 96%, respectively, to total services revenue. During the three and nine months ended September 30, 2022, the Company recognized grant revenue under the Company’s award from the U.S. Department of Energy’s Solar Energy Technology Office (the “DOE Award”) of $1.7 million and $4.7 million, respectively, related to costs incurred during such periods that are reimbursable under the DOE Award. During the three and nine months ended September 30, 2021, the Company recognized $2.2 million and $3.6 million, respectively associated with several engineering and design contracts which was largely related to a predecessor contract to the CSDA. Provision for Contract Losses For the nine months ended September 30, 2022, we recognized a total provision for contract losses of $33.7 million driven primarily by the CSDA, as estimated costs to satisfy performance obligations for the remainder of those contracts exceeded consideration to be received from the customers. The Company recognized total contract losses of $32.9 million related to the CSDA reflecting the Company’s estimate of the full expected loss on the design, engineering, and construction of the Facility given the consideration expected to be realized under the CSDA (net of the fair value of the Project Warrants) and the DOE Award. We recognized no provisions for contract losses during the three months ended September 30, 2022 and the three and nine months ended September 30, 2021. Performance Obligations and Contract Liabilities Revenue recognized under contracts with customers relate solely to the performance obligations satisfied in 2022. On September 30, 2022, we had approximately $41.3 million of the transaction price allocated to remaining performance obligations through 2025. As of September 30, 2022 and December 31, 2021, our contract liabilities were $8.5 million and $0.5 million, respectively. Activity included in contract liabilities during the nine months ended September 30, 2022 consisted of additions for deferred revenue of $12.9 million offset by revenue recognized of $4.4 million, and other activity of $0.5 million. Receivables September 30, December 31, $ in thousands 2022 2021 Trade receivables Billed $ — $ 900 Unbilled 334 1,123 Total trade receivables 334 2,023 Grant receivables Billed 1,399 — Unbilled 4,698 1,442 Total grant receivables 6,097 1,442 Other 154 431 Total receivables $ 6,585 $ 3,896

Warrants

Warrants	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Warrants	Warrants Public Warrants and Private Warrants The Company’s warrant liability as of September 30, 2022 includes public warrants (the “Public Warrants”) and private placement warrants (the “Private Warrants”). The Public Warrants and Private Warrants permit warrant holders to purchase in the aggregate 8,333,333 shares and 233,333 shares, respectively, of the Company’s common stock at an exercise price of $11.50 per share. The Public Warrants and the Private Warrants became exercisable on March 16, 2022 and expire on December 30, 2026, or earlier upon redemption or liquidation. The Company has the ability to redeem outstanding Public Warrants prior to their expiration, at a price of $0.01 per warrant, provided that the last reported sales price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30 trading-day period ending on the third trading day prior to the notice date of redemption. In addition, the Company has the ability to redeem all (but not less than all) of the outstanding Public Warrants and Private Warrants prior to their expiration, at a price of $0.10 per warrant if the last reported sales price of the Company’s common stock equals or exceeds $10.00 on the trading day prior to the date of the notice. The Company evaluated the Public Warrants and Private Warrants and concluded that a provision in the underlying warrant agreement dated March 16, 2022, by and between Athena and Continental Stock Transfer & Trust Company, related to certain tender or exchange offers precludes both the Public Warrants and Private Warrants from being accounted for as components of equity. As both the Public Warrants and Private Warrants meet the definition of a derivative, they are recorded on the condensed consolidated balance sheets as liabilities and measured at fair value at each reporting date, with the change in fair value reported in gain (loss) on warrant remeasurement on the condensed consolidated statements of operations and comprehensive loss. Project Warrants In connection with the concurrent execution of the CSDA with Woodside in March 2022, the Company issued warrants permitting Woodside to purchase approximately 0.91 million shares of the Company’s common stock at an exercise price of $0.01 per share (the “Project Warrants”). These warrants expire upon the earlier of a change in control of the Company or March 28, 2027 and vest pro rata with certain payments required to be made by the customer under the CSDA. The fair value of the Project Warrants upon issuance was $4.96 per warrant based on the closing price of the Company’s shares on March 28, 2022 less the exercise price. The Project Warrants were determined to be consideration payable to a customer or non-employee and are equity-classified pursuant to the guidance in ASC 718, Stock Compensation (“ASC 718”). For the Project Warrants, the total consideration payable to the customer of approximately $4.5 million reduced the transaction price associated with the customer’s contract and the Company recognized $0.2 million as an increase to additional paid-in-capital related to the Project Warrants to reflect the attribution of the Project Warrants’ fair value in a manner similar to revenue recognized under the customer’s contract. As of September 30, 2022, none of the Project Warrants have vested or become exercisable. Collaboration Warrants In connection with the concurrent execution of a collaboration agreement (the “Collaboration Agreement”) with Woodside in March 2022, the Company issued warrants permitting Woodside to purchase approximately 3.65 million shares of the Company’s common stock at an exercise price of $0.01 per share (the “Collaboration Warrants”). These warrants expire upon the earlier of a change in control of the Company or March 28, 2027. Of these warrants, (i) 1.825 million warrants vested immediately upon execution of the Collaboration Agreement and (ii) 1.825 million warrants will vest based on certain specified performance goals under the Collaboration Agreement relating to towers contracted. The fair value of the Collaboration Warrants upon issuance was $4.96 per warrant based on the closing price of the Company’s shares on March 28, 2022 less the exercise price. The Collaboration Warrants were determined to be consideration payable to a customer or non-employee and are equity-classified under ASC 718. For the Collaboration Warrants, the Company recognized a prepaid expense of $9.1 million, of which $2.6 million was classified as current and $6.5 million was classified as long-term, with a corresponding increase to additional paid-in-capital related to the Collaboration Warrants that immediately vested. This amount will be recognized ratably as selling, general and administrative (“SG&A”) expense beginning April 2022 for marketing services to be provided over the estimated service period. As of September 30, 2022, the remaining estimated period is approximately four years. For the three and nine months ended September 30, 2022, we recognized approximately $0.6 million and $1.3 million as SG&A expense related to the vesting of the Collaboration Warrants. Additional vesting of the Collaboration Warrants will be recognized as deferred contract acquisition costs upon execution of an applicable customer contract as defined in the Collaboration Agreement and will be amortized to expense over the term of the applicable customer contract. Vendor Warrants one

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition In September 2021, Heliogen acquired 100% of the equity interests of HelioHeat GmbH (“HelioHeat”), a private limited liability company in Germany engaged in the development, planning and construction of renewable energy systems and components, including a novel solar receiver (the “HelioHeat Acquisition”). The components of the fair value of consideration transferred are as follows ($ in thousands): Cash paid at closing $ 1,714 Contingent consideration (1) 2,009 Settlement of pre-existing relationship 45 Total fair value of consideration transferred $ 3,768 ________________ (1) See Note 11— Fair Value of Financial Instruments for additional information. The purchase price allocation for the HelioHeat Acquisition was finalized as of March 31, 2022. The following table summarizes the purchase price allocation as of the acquisition date and the adjustments recorded during the measurement period. As of December 31, 2021 Measurement Period Adjustments $ in thousands Preliminary Valuation Final Valuation Cash and cash equivalents $ 30 $ — $ 30 Prepaid and other current assets 33 — 33 Property, plant and equipment, net 6 — 6 Intangible asset — 4,204 4,204 Goodwill 4,204 (3,093) 1,111 Total assets acquired 4,273 1,111 5,384 Accrued expenses and other current liabilities 74 — 74 Contract liabilities 390 — 390 Debt 41 — 41 Deferred tax liabilities — 1,111 1,111 Total liabilities assumed 505 1,111 1,616 Net assets acquired $ 3,768 $ — $ 3,768 The Company recorded measurement period adjustments based on the valuation of the intangible asset related to developed technology associated with HelioHeat’s solar receiver technology and the related deferred tax impact. The purchase price allocation resulted in the recognition of $1.1 million in goodwill, which includes measurement period adjustments, of which none is expected to be tax deductible. Goodwill represents the value expected to be received from the synergies of integrating HelioHeat’s operations with Heliogen’s operations to expand commercial opportunities and the assembled workforce in place. The fair value of the intangible asset was estimated using the replacement cost approach, which was based on Level 3 inputs, which is defined in Note 11—Fair Value of Financial Instruments. Significant valuation assumptions include management’s estimated costs to reproduce HelioHeat solar receiver technology if the Company had developed the technology using its own resources, developer’s profit margin based on estimated market participants’ required margin, and an estimated discount for economic obsolescence. The intangible asset will be amortized over its estimated useful life of five years through June 2026.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We calculate our quarterly tax provision pursuant to the guidelines in ASC 740, Income Taxes . ASC 740 requires companies to estimate the annual effective tax rate for current year ordinary income. The relationship between our income tax provision or benefit and our pre-tax book income or loss can vary significantly from period to period considering, among other factors, the overall level of pre-tax book income or loss and changes in the blend of jurisdictional income or loss that is taxed at different rates and changes in valuation allowances. The income tax benefit of $46 thousand and $0.8 million for the three and nine months ended September 30, 2022, respectively, was primarily attributable to our HelioHeat operations. We incurred no income tax benefit or provision for the three and nine months ended September 30, 2021. Any income tax benefit associated with the pre-tax loss for the three and nine months ended September 30, 2022, resulting primarily from the U.S. jurisdiction, is offset by a full valuation allowance. In assessing the realizability of deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Based upon the analysis of federal and state deferred tax balances, future tax projections and availability of taxable income in the carryback period, we recorded a full valuation allowance against the federal and state deferred tax assets as of September 30, 2022 and December 31, 2021. The Company is subject to the provisions of ASC Subtopic 740-10, Accounting for Uncertainty in Income Taxes . This standard defines the threshold for recognizing the benefits of tax return positions in the financial statements as more-likely-than-not to be sustained by the relevant taxing authority and requires measurement of a tax position meeting the more-likely-than-not criterion, based on the largest benefit that is more than 50% likely to be realized. If upon performance of an assessment pursuant to this subtopic, management determines that uncertainties in tax positions exist that do not meet the minimum threshold for recognition of the related tax benefit, a liability is recorded in the condensed consolidated financial statements. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as a component of income tax expense. We do not have material unrecognized tax benefits for uncertain tax positions.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Heliogen, Inc. 2021 Equity Incentive Plan aims to incentivize employees, directors and consultants who render services to the Company through the granting of stock awards, including options, stock appreciation right (“SARs”) awards, restricted stock awards, RSU awards, performance awards, and other stock-based awards. During the three and nine months ended September 30, 2022, we granted 6,207,165 and 8,317,780 RSU awards, respectively, at a weighted average grant date fair value per share of $2.34 and $2.83, respectively. Our total share-based compensation expense, including the affected line on the condensed consolidated statements of operations and comprehensive loss, is as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Cost of services revenue (excluding depreciation and amortization) $ 330 $ — $ 1,321 $ — Selling, general and administrative 7,562 1,346 28,696 1,729 Research and development 2,080 139 4,461 320 Total share-based compensation expense $ 9,972 $ 1,485 $ 34,478 $ 2,049

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share Basic and diluted losses per share were as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands, except per share and share data 2022 2021 2022 2021 Numerator Net loss $ (27,829) $ (28,276) $ (107,014) $ (88,665) Denominator Weighted-average common shares outstanding 190,526,219 11,545,919 187,633,327 10,650,897 Weighted-average impact of warrants (1) 2,053,906 — 1,194,443 — Denominator for basic EPS – weighted-average shares 192,580,125 11,545,919 188,827,770 10,650,897 Effect of dilutive securities — — — — Denominator for diluted EPS – weighted-average shares 192,580,125 11,545,919 188,827,770 10,650,897 Loss per share – Basic $ (0.14) $ (2.45) $ (0.57) $ (8.32) Loss per share – Diluted $ (0.14) $ (2.45) $ (0.57) $ (8.32) ________________ (1) Warrants that have a $0.01 exercise price are assumed to be exercised when vested because common shares issued for little consideration upon exercise are included in outstanding shares for the purposes of computing basic and diluted EPS. The following securities were excluded from the calculation of Loss per share as their impact would be anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options 32,999,878 31,492,075 32,999,878 31,492,075 Unvested restricted stock units 11,479,099 — 11,479,099 — Restricted shares issued upon the early exercise of unvested options 135,271 1,338,710 135,271 1,338,710 Unvested warrants 2,497,171 — 2,497,171 — Vested warrants 8,566,656 229,841 8,566,656 229,841 Preferred stock warrants, on an “as converted” basis — 381,306 — 381,306 Convertible preferred shares, on an “as converted” basis (1) — 121,040,751 — 121,040,751 ________________ (1) For the three and nine months ended September 30, 2021, there were 117,886,982 convertible preferred shares outstanding.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Idealab The Chief Executive Officer of our Company also serves as the chairman of the board of directors of Idealab, a California Corporation (“Idealab”). Idealab, a minority owner of Heliogen’s outstanding voting stock through its wholly-owned subsidiary, Idealab Holdings, LLC, is a party to a lease with the Company and provides various services through service agreements which include accounting, human resources, legal, information technology, marketing, public relations, and certain other operational support and executive advisory services. Since the closing of the Business Combination on December 30, 2021, as discussed in Note 1, the reliance on Idealab for these services has reduced significantly as the Company increased headcount related to administrative functions. All expenses or amounts paid to Idealab pursuant to these agreements are reported within SG&A expense in the condensed consolidated statements of operations and comprehensive loss. The amounts charged to us or reimbursed by us under these agreements were as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Administrative services provided by Idealab $ 133 $ 314 $ 436 $ 1,066 In May 2021, Heliogen sub-leased a portion of its office space in Pasadena, CA to Idealab for a term of seven years. The sub-lease has an initial annual base rent of approximately $150 thousand and contains a 3% per annum escalation clause. The sub-lease is subject to termination by either party upon six months prior written notice. Concurrently with the parties’ entering into the sub-lease agreement, Idealab and Heliogen also entered into certain property management and shared facilities staffing agreements, which provide that Heliogen pays Idealab approximately $3 thousand per month for building management services and approximately $13 thousand per month for shared facilities staff and services (with proportional reimbursement of salaries). Such agreements are subject to termination right by either party with 90 days prior written notice. The Company recognized rental revenue from Idealab within other income, net in our condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Rental revenue $ 35 $ 314 $ 82 $ 1,066

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are involved in various claims and lawsuits arising in the normal course of business, including proceedings involving tort and other general liability claims, and other miscellaneous claims. We recognize a liability when we believe the loss is probable and reasonably estimable. We currently believe that the ultimate outcome of such lawsuits and proceedings will not, individually or in the aggregate, have a material effect on our condensed consolidated financial statements as of and for the nine months ended September 30, 2022. Although we cannot predict the outcome of legal or other proceedings with certainty, when it is probable that a loss has been incurred and the amount is reasonably estimable, U.S. GAAP requires us to accrue an estimate of the probable loss or range of loss or make a statement that such an estimate cannot be made. We follow a thorough process in which we seek to estimate the reasonably possible loss or range of loss, and only if we are unable to make such an estimate do we conclude and disclose that an estimate cannot be made. Accordingly, unless otherwise indicated below in our discussion of legal proceedings, a reasonably possible loss or range of loss associated with any individual legal proceeding cannot be estimated. On August 30, 2021, the Company's predecessor, Athena, received a litigation demand letter (the “Class Vote Demand”) on behalf of Athena’s stockholder FWD LKNG GDD Irrevocable Trust. The Class Vote Demand alleged that Athena violated Section 242(b)(2) of the Delaware General Corporation Law (the “DGCL”) by not requiring separate class votes for holders of the Athena Class A and Class B Common Stock in connection with certain aspects of the business combination between Athena and Heliogen. According to the Class Vote Demand, a class vote was required under Section 242(b)(2) because consideration to the stockholders of Heliogen was to be paid in newly issued common stock, following elimination of the Class B Common Stock. While such separate class vote is not required pursuant to Section 242(b)(2) of the DGCL, Athena concluded that such separate class vote was advisable to prevent disruption to the proposed transaction with Heliogen, and to avoid the delay and expense of potential litigation and amended its Form S-4 Registration Statement to reflect that change. On January 20, 2022, the stockholders’ counsel asserted entitlement to an award of attorneys’ fees to

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in Accumulated Other Comprehensive Loss (“AOCL”), net of tax, by component were as follows: $ in thousands Changes in fair value of investment securities Accumulated foreign currency translation adjustments Total Balance at June 30, 2022 $ (523) $ (311) $ (834) Other comprehensive loss adjustments before reclassifications (18) (173) (191) Amounts reclassified from AOCL — — — Net other comprehensive loss (18) (173) (191) Balance at September 30, 2022 $ (541) $ (484) $ (1,025) Balance at December 31, 2021 $ (17) $ 13 $ (4) Other comprehensive loss adjustments before reclassifications (681) (497) (1,178) Amounts reclassified from AOCL 157 — 157 Net other comprehensive loss (524) (497) (1,021) Balance at September 30, 2022 $ (541) $ (484) $ (1,025) $ in thousands Changes in fair value of investment securities Accumulated foreign currency translation adjustments Total Balance at June 30, 2021 $ (14) $ — $ (14) Other comprehensive loss adjustments before reclassifications 7 (57) (50) Amounts reclassified from AOCL — — — Net other comprehensive loss 7 (57) (50) Balance at September 30, 2021 $ (7) $ (57) $ (64) Balance at December 31, 2020 $ — $ — $ — Other comprehensive loss adjustments before reclassifications (7) (57) (64) Amounts reclassified from AOCL — — — Net other comprehensive loss (7) (57) (64) Balance at September 30, 2021 $ (7) $ (57) $ (64) There were no tax impacts related to the Company’s other comprehensive loss items at September 30, 2022 and December 31, 2021. Reclassifications out of AOCL, net of tax, by component were as follows: Three Months Ended September 30, Nine Months Ended September 30, Affected line item on the Condensed Consolidated Statements of Operations $ in thousands 2022 2021 2022 2021 Changes in fair value on investment securities Reclassification of realized losses $ — $ — $ 157 $ — Other (expense) income, net Tax benefit (provision) — — — — Benefit for income taxes Net changes in fair value on investment securities $ — $ — $ 157 $ —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants and is generally classified in one of the following categories: Level 1 — Fair value is based on quoted prices for identical instruments in active markets. Level 2 — Fair value is based on quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 — Fair value is based on valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assets and liabilities measured at fair value on a recurring basis are summarized in the following table by fair value measurement level: $ in thousands Level September 30, 2022 December 31, 2021 Assets: Investments 1 $ 128,803 $ 32,332 Liabilities: Public Warrants 1 $ 1,834 $ 14,167 Private Warrants 2 $ 51 $ 396 Contingent consideration (1) 3 $ 946 $ 2,009 ________________ (1) Included in other long-term liabilities on the condensed consolidated balance sheet. The following table summarizes the reconciliation of our Level 3 fair value measurements: ($ in thousands) SAFE Instruments (3) Legacy Heliogen Preferred Stock Warrants (3) Contingent Consideration (2) Three Months Ended September 30, 2022 Beginning of period $ — $ — $ 2,062 Net realized decrease in fair value — — (1,116) End of period $ — $ — $ 946 Nine Months Ended September 30, 2022 Beginning of period $ — $ — $ 2,009 Net realized decrease in fair value — — (1,063) End of period $ — $ — $ 946 Three Months Ended September 30, 2021 Beginning of period $ 130,871 $ 2,329 $ — Net realized increase in fair value 15,533 321 — Acquisition — — 2,009 End of period $ 146,404 $ 2,650 $ 2,009 Nine Months Ended September 30, 2021 Beginning of period $ — $ 46 $ — Net realized increase in fair value 62,993 2,604 — Issuances (1) 83,411 — — Acquisition — — 2,009 End of period $ 146,404 $ 2,650 $ 2,009 __________________ (1) Net of issuance costs. (2) The changes in the fair value of the contingent consideration are reported in our Condensed Consolidated Statements of Operations and Comprehensive Loss in other income (expense), net. (3) On December 30, 2021, immediately prior to the Business Combination, the SAFE Instruments and preferred stock warrants were converted into common stock. The contingent consideration was measured at fair value using a probability-weighted cash-flow method. The ke y inputs used in the valuation for the contingent consideration as of September 30, 2022 included the timing and probability of payment. The SAFE Instruments and Legacy Heliogen preferred stock warrants were measured at fair value using a probability-weighted method considering two potential outcomes: a Special Purpose Acquisition Company (“SPAC”) exit scenario and a stay private scenario. The table below summarizes key inputs used in the valuation for the SAFE Instruments and warrants as of September 30, 2021: Private Scenario SPAC Scenario Safe Instruments Warrants Scenario probability weighting 85 % 15 % 15 % Expected term (in years) 0.6 2.1 2.1 Expected volatility 55.0 % 20.0 % 102.5 % Risk-free interest rate 0.1 % 0.3 % 0.3 % Dividend yield — — —

Investments

Investments	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments in fixed maturity securities as of September 30, 2022 and December 31, 2021 are classified as available-for-sale and are summarized in the following table below: September 30, 2022 December 31, 2021 $ in thousands Amortized Unrealized Fair Amortized Unrealized Fair Short-term investments Corporate bonds $ 10,508 $ (83) $ 10,425 $ 32,349 $ (17) $ 32,332 Commercial paper 17,493 (33) 17,460 — — — U.S. treasury bills 96,460 (311) 96,149 — — — Total short-term investments 124,461 (427) 124,034 32,349 (17) 32,332 Long-term investments U.S. treasury bills 4,883 (114) 4,769 — — — Total long-term investments 4,883 (114) 4,769 — — — Total $ 129,344 $ (541) $ 128,803 $ 32,349 $ (17) $ 32,332 There were no credit losses recognized for the three and nine months ended September 30, 2022 and 2021, and there was no allowance for credit losses as of September 30, 2022 and December 31, 2021.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and include the accounts of Heliogen and the subsidiaries it controls. All material intercompany balances are eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in Heliogen’s Annual Report on Form 10-K/A for the year ended December 31, 2021 filed on May 23, 2022. Certain information and disclosures normally included in annual financial statements have been condensed or omitted in these interim financial statements. In our opinion, the unaudited interim financial statements have been prepared on the same basis as the annual financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary for fair statement. The results of operations for the nine months ended September 30, 2022, are not necessarily indicative of the results of operations to be expected for the full year ending December 31, 2022.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. On an ongoing basis, we evaluate our estimates, including those related to inputs used to recognize revenue over time, accounting for income taxes, the fair values of share-based compensation, lease liabilities, warrant liabilities, and long-lived asset impairments. Despite our intention to establish accurate estimates and reasonable assumptions, actual results could differ materially from such estimates and assumptions.
Reclassifications	ReclassificationsCertain immaterial prior period amounts have been reclassified to conform to current period presentation. Such changes did not have a material impact on our financial position or results of operation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“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

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	We disaggregate revenue into the following revenue categories: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Project revenue $ 1,324 $ — $ 4,207 $ — Other services revenue 43 2,202 168 3,563 Total services revenue 1,367 2,202 4,375 3,563 Grant revenue 1,733 — 4,656 — Total revenue $ 3,100 $ 2,202 $ 9,031 $ 3,563
Schedule of Receivables	Receivables September 30, December 31, $ in thousands 2022 2021 Trade receivables Billed $ — $ 900 Unbilled 334 1,123 Total trade receivables 334 2,023 Grant receivables Billed 1,399 — Unbilled 4,698 1,442 Total grant receivables 6,097 1,442 Other 154 431 Total receivables $ 6,585 $ 3,896

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Consideration Transferred	The components of the fair value of consideration transferred are as follows ($ in thousands): Cash paid at closing $ 1,714 Contingent consideration (1) 2,009 Settlement of pre-existing relationship 45 Total fair value of consideration transferred $ 3,768 ________________ (1) See Note 11— Fair Value of Financial Instruments for additional information.
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the purchase price allocation as of the acquisition date and the adjustments recorded during the measurement period. As of December 31, 2021 Measurement Period Adjustments $ in thousands Preliminary Valuation Final Valuation Cash and cash equivalents $ 30 $ — $ 30 Prepaid and other current assets 33 — 33 Property, plant and equipment, net 6 — 6 Intangible asset — 4,204 4,204 Goodwill 4,204 (3,093) 1,111 Total assets acquired 4,273 1,111 5,384 Accrued expenses and other current liabilities 74 — 74 Contract liabilities 390 — 390 Debt 41 — 41 Deferred tax liabilities — 1,111 1,111 Total liabilities assumed 505 1,111 1,616 Net assets acquired $ 3,768 $ — $ 3,768

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Our total share-based compensation expense, including the affected line on the condensed consolidated statements of operations and comprehensive loss, is as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Cost of services revenue (excluding depreciation and amortization) $ 330 $ — $ 1,321 $ — Selling, general and administrative 7,562 1,346 28,696 1,729 Research and development 2,080 139 4,461 320 Total share-based compensation expense $ 9,972 $ 1,485 $ 34,478 $ 2,049

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted losses per share were as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands, except per share and share data 2022 2021 2022 2021 Numerator Net loss $ (27,829) $ (28,276) $ (107,014) $ (88,665) Denominator Weighted-average common shares outstanding 190,526,219 11,545,919 187,633,327 10,650,897 Weighted-average impact of warrants (1) 2,053,906 — 1,194,443 — Denominator for basic EPS – weighted-average shares 192,580,125 11,545,919 188,827,770 10,650,897 Effect of dilutive securities — — — — Denominator for diluted EPS – weighted-average shares 192,580,125 11,545,919 188,827,770 10,650,897 Loss per share – Basic $ (0.14) $ (2.45) $ (0.57) $ (8.32) Loss per share – Diluted $ (0.14) $ (2.45) $ (0.57) $ (8.32) ________________ (1) Warrants that have a $0.01 exercise price are assumed to be exercised when vested because common shares issued for little consideration upon exercise are included in outstanding shares for the purposes of computing basic and diluted EPS.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the calculation of Loss per share as their impact would be anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options 32,999,878 31,492,075 32,999,878 31,492,075 Unvested restricted stock units 11,479,099 — 11,479,099 — Restricted shares issued upon the early exercise of unvested options 135,271 1,338,710 135,271 1,338,710 Unvested warrants 2,497,171 — 2,497,171 — Vested warrants 8,566,656 229,841 8,566,656 229,841 Preferred stock warrants, on an “as converted” basis — 381,306 — 381,306 Convertible preferred shares, on an “as converted” basis (1) — 121,040,751 — 121,040,751 ________________

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The amounts charged to us or reimbursed by us under these agreements were as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Administrative services provided by Idealab $ 133 $ 314 $ 436 $ 1,066 The Company recognized rental revenue from Idealab within other income, net in our condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended September 30, Nine Months Ended September 30, $ in thousands 2022 2021 2022 2021 Rental revenue $ 35 $ 314 $ 82 $ 1,066

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Changes in AOCL	Changes in Accumulated Other Comprehensive Loss (“AOCL”), net of tax, by component were as follows: $ in thousands Changes in fair value of investment securities Accumulated foreign currency translation adjustments Total Balance at June 30, 2022 $ (523) $ (311) $ (834) Other comprehensive loss adjustments before reclassifications (18) (173) (191) Amounts reclassified from AOCL — — — Net other comprehensive loss (18) (173) (191) Balance at September 30, 2022 $ (541) $ (484) $ (1,025) Balance at December 31, 2021 $ (17) $ 13 $ (4) Other comprehensive loss adjustments before reclassifications (681) (497) (1,178) Amounts reclassified from AOCL 157 — 157 Net other comprehensive loss (524) (497) (1,021) Balance at September 30, 2022 $ (541) $ (484) $ (1,025) $ in thousands Changes in fair value of investment securities Accumulated foreign currency translation adjustments Total Balance at June 30, 2021 $ (14) $ — $ (14) Other comprehensive loss adjustments before reclassifications 7 (57) (50) Amounts reclassified from AOCL — — — Net other comprehensive loss 7 (57) (50) Balance at September 30, 2021 $ (7) $ (57) $ (64) Balance at December 31, 2020 $ — $ — $ — Other comprehensive loss adjustments before reclassifications (7) (57) (64) Amounts reclassified from AOCL — — — Net other comprehensive loss (7) (57) (64) Balance at September 30, 2021 $ (7) $ (57) $ (64)
Reclassification Out of AOCL	Reclassifications out of AOCL, net of tax, by component were as follows: Three Months Ended September 30, Nine Months Ended September 30, Affected line item on the Condensed Consolidated Statements of Operations $ in thousands 2022 2021 2022 2021 Changes in fair value on investment securities Reclassification of realized losses $ — $ — $ 157 $ — Other (expense) income, net Tax benefit (provision) — — — — Benefit for income taxes Net changes in fair value on investment securities $ — $ — $ 157 $ —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The Company’s assets and liabilities measured at fair value on a recurring basis are summarized in the following table by fair value measurement level: $ in thousands Level September 30, 2022 December 31, 2021 Assets: Investments 1 $ 128,803 $ 32,332 Liabilities: Public Warrants 1 $ 1,834 $ 14,167 Private Warrants 2 $ 51 $ 396 Contingent consideration (1) 3 $ 946 $ 2,009 ________________ (1) Included in other long-term liabilities on the condensed consolidated balance sheet.
Reconciliation of Level 3 Fair Value Liabilities	The following table summarizes the reconciliation of our Level 3 fair value measurements: ($ in thousands) SAFE Instruments (3) Legacy Heliogen Preferred Stock Warrants (3) Contingent Consideration (2) Three Months Ended September 30, 2022 Beginning of period $ — $ — $ 2,062 Net realized decrease in fair value — — (1,116) End of period $ — $ — $ 946 Nine Months Ended September 30, 2022 Beginning of period $ — $ — $ 2,009 Net realized decrease in fair value — — (1,063) End of period $ — $ — $ 946 Three Months Ended September 30, 2021 Beginning of period $ 130,871 $ 2,329 $ — Net realized increase in fair value 15,533 321 — Acquisition — — 2,009 End of period $ 146,404 $ 2,650 $ 2,009 Nine Months Ended September 30, 2021 Beginning of period $ — $ 46 $ — Net realized increase in fair value 62,993 2,604 — Issuances (1) 83,411 — — Acquisition — — 2,009 End of period $ 146,404 $ 2,650 $ 2,009 __________________ (1) Net of issuance costs. (2) The changes in the fair value of the contingent consideration are reported in our Condensed Consolidated Statements of Operations and Comprehensive Loss in other income (expense), net. (3) On December 30, 2021, immediately prior to the Business Combination, the SAFE Instruments and preferred stock warrants were converted into common stock.
Schedule of Fair Value Inputs and Valuation Techniques	The table below summarizes key inputs used in the valuation for the SAFE Instruments and warrants as of September 30, 2021: Private Scenario SPAC Scenario Safe Instruments Warrants Scenario probability weighting 85 % 15 % 15 % Expected term (in years) 0.6 2.1 2.1 Expected volatility 55.0 % 20.0 % 102.5 % Risk-free interest rate 0.1 % 0.3 % 0.3 % Dividend yield — — —

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	Investments in fixed maturity securities as of September 30, 2022 and December 31, 2021 are classified as available-for-sale and are summarized in the following table below: September 30, 2022 December 31, 2021 $ in thousands Amortized Unrealized Fair Amortized Unrealized Fair Short-term investments Corporate bonds $ 10,508 $ (83) $ 10,425 $ 32,349 $ (17) $ 32,332 Commercial paper 17,493 (33) 17,460 — — — U.S. treasury bills 96,460 (311) 96,149 — — — Total short-term investments 124,461 (427) 124,034 32,349 (17) 32,332 Long-term investments U.S. treasury bills 4,883 (114) 4,769 — — — Total long-term investments 4,883 (114) 4,769 — — — Total $ 129,344 $ (541) $ 128,803 $ 32,349 $ (17) $ 32,332

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details)	Sep. 30, 2022 $ / shares	Dec. 31, 2021 $ / shares	Dec. 30, 2021 $ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Exchange ratio			2.013

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total services revenue	$ 1,367	$ 2,202	$ 4,375	$ 3,563
Grant revenue	1,733	0	4,656	0
Total revenue	3,100	2,202	9,031	3,563
Project revenue
Disaggregation of Revenue [Line Items]
Total services revenue	1,324	0	4,207	0
Other services revenue
Disaggregation of Revenue [Line Items]
Total services revenue	$ 43	$ 2,202	$ 168	$ 3,563

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total services revenue	$ 1,367,000	$ 2,202,000	$ 4,375,000	$ 3,563,000
Grant revenue	1,733,000	0	4,656,000	0
Provision for contract losses	0	0	33,737,000	0
Contract liabilities	8,540,000		8,540,000			$ 513,000
Contract liabilities, deferred revenue additions			12,900,000
Contract liabilities, revenue recognized			4,400,000
Contract liabilities, other increase (decrease)			$ (500,000)
Revenue Benchmark | Customer concentration risk | Project Agreement customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk percentage			96%
Project revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total services revenue	1,324,000	$ 0	$ 4,207,000	$ 0
Project Agreement
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Maximum potential consideration					$ 50,000,000
Transaction price					$ 45,500,000
Loss on contracts			32,900,000
Project Agreement | Project revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total services revenue	$ 1,300,000		4,200,000
Project Agreement | Project revenue | Revenue Benchmark | Customer concentration risk | Project Agreement customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk percentage	97%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 41,300,000		$ 41,300,000
Revenue, remaining performance obligation, period	3 years 3 months		3 years 3 months

Revenue - Schedule of Receivabl

Revenue - Schedule of Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 334	$ 2,023
Total grant receivables	6,097	1,442
Other	154	431
Total receivables	6,585	3,896
Billed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	0	900
Total grant receivables	1,399	0
Unbilled
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	334	1,123
Total grant receivables	$ 4,698	$ 1,442

Warrants (Details)

Warrants (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) tradingDay $ / shares shares	Apr. 30, 2022	Apr. 19, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Class of Warrant or Right [Line Items]
Warrants, exercise price (in dollars per share)		$ 0.01	$ 0.01
Warrants, fair value | $		$ 1,885	$ 1,885			$ 14,563
Increase to additional paid-in-capital, warrants issued | $		$ 131	$ 9,559
Public and Private Warrants
Class of Warrant or Right [Line Items]
Warrants, exercise price (in dollars per share)		$ 11.50	$ 11.50
Redemption price per warrant (in dollars per share)			0.10
Stock price trigger for redemption of warrants (in dollars per share)			$ 10
Public Warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares		8,333,333	8,333,333
Redemption price per warrant (in dollars per share)			$ 0.01
Stock price trigger for redemption of warrants (in dollars per share)			$ 18
Threshold trading days for redemption of warrants | tradingDay			20
Threshold consecutive trading days for redemption of warrants | tradingDay			30
Private Warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares		233,333	233,333
Project Warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares	910,000
Warrants, exercise price (in dollars per share)	$ 0.01
Warrants, fair value (in dollars per share)	$ 4.96
Warrants, fair value | $	$ 4,500
Increase to additional paid-in-capital, warrants issued | $	$ 200
Collaboration Warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares	3,650,000
Warrants, exercise price (in dollars per share)	$ 0.01
Warrants, fair value (in dollars per share)	$ 4.96
Prepaid warrants | $	$ 9,100
Prepaid warrants, current | $	2,600
Prepaid warrants, noncurrent | $	$ 6,500
Warrant term				4 years
Selling, general and administrative expense, warrants | $		$ 600	$ 1,300
Collaboration Warrants | Vesting immediately
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares	1,825,000
Collaboration Warrants | Vesting based on performance goals
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares	1,825,000
Vendor Warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares) | shares					76,923
Warrants, exercise price (in dollars per share)					$ 0.01
Warrants, fair value (in dollars per share)					$ 4.18
Warrants, fair value | $					$ 300
Warrant term					1 year
Selling, general and administrative expense, warrants | $		$ 100	$ 100

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($)	1 Months Ended
	Sep. 30, 2021	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 926,000		$ 4,204,000
HelioHeat
Business Acquisition [Line Items]
Interest acquired	100%
Goodwill			$ 1,111,000	$ 4,204,000
Goodwill, expected tax deductible amount			$ 0
Intangible asset acquired, useful life	5 years

Acquisition - Schedule of Consi

Acquisition - Schedule of Consideration Transferred (Details) - HelioHeat $ in Thousands	1 Months Ended
	Sep. 30, 2021 USD ($)
Business Acquisition [Line Items]
Cash paid at closing	$ 1,714
Contingent consideration	2,009
Settlement of pre-existing relationship	45
Total fair value of consideration transferred	$ 3,768

Acquisition - Schedule of Asset

Acquisition - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 926	$ 4,204
HelioHeat
Business Acquisition [Line Items]
Cash and cash equivalents	$ 30		30
Prepaid and other current assets	33		33
Property, plant and equipment, net	6		6
Intangible asset	4,204		0
Goodwill	1,111		4,204
Total assets acquired	5,384		4,273
Accrued expenses and other current liabilities	74		74
Contract liabilities	390		390
Debt	41		41
Deferred tax liabilities	1,111		0
Total liabilities assumed	1,616		505
Net assets acquired	3,768		$ 3,768
Measurement Period Adjustments
Intangible asset	4,204
Goodwill	(3,093)
Total assets acquired	1,111
Deferred tax liabilities	1,111
Total liabilities assumed	$ 1,111

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ (46,000)	$ 0	$ (781,000)	$ 0

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - RSU Awards - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	6,207,165	8,317,780
Granted (in dollars per share)	$ 2.34	$ 2.83

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 9,972	$ 1,485	$ 34,478	$ 2,049
Cost of services revenue (excluding depreciation and amortization)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	330	0	1,321	0
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	7,562	1,346	28,696	1,729
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 2,080	$ 139	$ 4,461	$ 320

Loss Per Share - Schedule of Ea

Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator
Net loss	$ (27,829)	$ (28,276)	$ (107,014)	$ (88,665)
Denominator
Weighted-average common shares outstanding	190,526,219	11,545,919	187,633,327	10,650,897
Weighted-average impact warrants (in shares)	2,053,906	0	1,194,443	0
Denominator for basic EPS – weighted-average shares	192,580,125	11,545,919	188,827,770	10,650,897
Effect of dilutive securities (in shares)	0	0	0	0
Denominator for diluted EPS – weighted-average shares	192,580,125	11,545,919	188,827,770	10,650,897
Loss per share – Basic (in dollars per share)	$ (0.14)	$ (2.45)	$ (0.57)	$ (8.32)
Loss per share – Diluted (in dollars per share)	(0.14)	$ (2.45)	(0.57)	$ (8.32)
Warrants, exercise price (in dollars per share)	$ 0.01		$ 0.01

Loss Per Share - Schedule of An

Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred stock, shares outstanding	0	117,886,982	0	117,886,982	0	0	117,886,982	117,886,982
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	32,999,878	31,492,075	32,999,878	31,492,075
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	11,479,099	0	11,479,099	0
Restricted shares issued upon the early exercise of unvested options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	135,271	1,338,710	135,271	1,338,710
Warrants | Unvested warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	2,497,171	0	2,497,171	0
Warrants | Vested warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	8,566,656	229,841	8,566,656	229,841
Warrants | Legacy Heliogen preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	0	381,306	0	381,306
Convertible preferred shares, on an “as converted” basis
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	0	121,040,751	0	121,040,751

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Idealab | Affiliated entity | Administrative services provided by Idealab
Related Party Transaction [Line Items]
Total Idealab transactions	$ 133	$ 314	$ 436	$ 1,066

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - Affiliated entity - Idealab $ in Thousands	1 Months Ended
	May 31, 2021 USD ($)
Related Party Transaction [Line Items]
Operating sublease term	7 years
Sublease, annual base rent	$ 150
Sublease, annual escalation clause	3%
Sublease, termination period	6 months
Related party agreement, termination period	90 days
Property management agreement
Related Party Transaction [Line Items]
Related party, monthly transaction amount	$ 3
Shared facilities staffing agreement
Related Party Transaction [Line Items]
Related party, monthly transaction amount	$ 13

Related Party Transactions - _2

Related Party Transactions - Schedule of Rental Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Idealab | Affiliated entity
Related Party Transaction [Line Items]
Rental revenue	$ 35	$ 314	$ 82	$ 1,066

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Changes in AOCL (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 168,946	$ (87,440)	$ 214,058	$ (27,862)
Other comprehensive loss adjustments before reclassifications	(191)	(50)	(1,178)	(64)
Amounts reclassified from AOCL	0	0	157	0
Other comprehensive loss	(191)	(50)	(1,021)	(64)
Ending balance	151,251	(114,157)	151,251	(114,157)
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(834)	(14)	(4)	0
Other comprehensive loss	(191)	(50)	(1,021)	(64)
Ending balance	(1,025)	(64)	(1,025)	(64)
Changes in fair value of investment securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(523)	(14)	(17)	0
Other comprehensive loss adjustments before reclassifications	(18)	7	(681)	(7)
Amounts reclassified from AOCL	0	0	157	0
Other comprehensive loss	(18)	7	(524)	(7)
Ending balance	(541)	(7)	(541)	(7)
Accumulated foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(311)	0	13	0
Other comprehensive loss adjustments before reclassifications	(173)	(57)	(497)	(57)
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive loss	(173)	(57)	(497)	(57)
Ending balance	$ (484)	$ (57)	$ (484)	$ (57)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Narrative (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Other comprehensive loss, tax impact	$ 0	$ 0

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Reclassification Out of AOCL (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income (expense), net	$ 1,256,000	$ (140,000)	$ 1,071,000	$ (312,000)
Income tax benefit	46,000	0	781,000	0
Net loss	(27,829,000)	(28,276,000)	(107,014,000)	(88,665,000)
Changes in fair value of investment securities | Reclassification out of AOCL
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income (expense), net	0	0	157,000	0
Income tax benefit	0	0	0	0
Net loss	$ 0	$ 0	$ 157,000	$ 0

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Investments	$ 128,803	$ 32,332
Liabilities:
Warrant liability	1,885	14,563
Recurring | Level 1
Assets:
Investments	128,803	32,332
Recurring | Level 1 | Public Warrants
Liabilities:
Warrant liability	1,834	14,167
Recurring | Level 2 | Private Warrants
Liabilities:
Warrant liability	51	396
Recurring | Level 3
Liabilities:
Contingent consideration	$ 946	$ 2,009

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Reconciliation of Level 3 Fair Value Liabilities (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
SAFE Instruments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	$ 0	$ 130,871	$ 0	$ 0
Net realized increase (decrease) in fair value	0	15,533	0	62,993
Issuances				83,411
Acquisition		0		0
End of period	0	146,404	0	146,404
Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	0	2,329	0	46
Net realized increase (decrease) in fair value	0	321	0	2,604
Issuances				0
Acquisition		0		0
End of period	0	2,650	0	2,650
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	2,062	0	2,009	0
Net realized increase (decrease) in fair value	(1,116)	0	(1,063)	0
Issuances				0
Acquisition		2,009		2,009
End of period	$ 946	$ 2,009	$ 946	$ 2,009

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Fair Value Inputs and Valuation Techniques (Details) - Level 3	Sep. 30, 2022
Scenario probability weighting | SPAC Scenario
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument and warrants, measurement input	0.85
Scenario probability weighting | Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument, measurement input	0.15
Warrant, measurement input	0.15
Expected term (in years) | SPAC Scenario
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument and warrants, measurement input	0.6
Expected term (in years) | Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument, measurement input	2.1
Warrant, measurement input	2.1
Expected volatility | SPAC Scenario
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument and warrants, measurement input	0.550
Expected volatility | Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument, measurement input	0.200
Warrant, measurement input	1.025
Risk-free interest rate | SPAC Scenario
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument and warrants, measurement input	0.001
Risk-free interest rate | Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument, measurement input	0.003
Warrant, measurement input	0.003
Dividend yield | SPAC Scenario
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument and warrants, measurement input	0
Dividend yield | Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SAFE instrument, measurement input	0
Warrant, measurement input	0

Investments (Details)

Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Short-term investments
Amortized cost	$ 124,461,000		$ 124,461,000		$ 32,349,000
Unrealized losses	(427,000)		(427,000)		(17,000)
Fair value	124,034,000		124,034,000		32,332,000
Long-term investments
Amortized cost	4,883,000		4,883,000		0
Unrealized losses	(114,000)		(114,000)		0
Fair value	4,769,000		4,769,000		0
Total
Amortized cost	129,344,000		129,344,000		32,349,000
Unrealized losses	(541,000)		(541,000)		(17,000)
Fair value	128,803,000		128,803,000		32,332,000
Available-for-sale securities, credit losses recognized	0	$ 0	0	$ 0
Available-for-sale securities, allowance for credit loss	0		0		0
Realized gains (loses)	0	$ 0	(200,000)	$ 0
Corporate bonds
Short-term investments
Amortized cost	10,508,000		10,508,000		32,349,000
Unrealized losses	(83,000)		(83,000)		(17,000)
Fair value	10,425,000		10,425,000		32,332,000
Commercial paper
Short-term investments
Amortized cost	17,493,000		17,493,000		0
Unrealized losses	(33,000)		(33,000)		0
Fair value	17,460,000		17,460,000		0
U.S. treasury bills
Short-term investments
Amortized cost	96,460,000		96,460,000		0
Unrealized losses	(311,000)		(311,000)		0
Fair value	96,149,000		96,149,000		0
Long-term investments
Amortized cost	4,883,000		4,883,000		0
Unrealized losses	(114,000)		(114,000)		0
Fair value	$ 4,769,000		$ 4,769,000		$ 0