Heliogen (HLGN) 10-Q 14 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 09, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-40209
Entity Registrant Name	Heliogen, Inc.
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		5,908,645
Entity Central Index Key	0001840292
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
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 35 warrants exercisable for one share of common stock at an exercise price of $402.50 per share
Trading Symbol	HLGN.W
Security Exchange Name	NYSE
Preferred Share Purchase Right
Document Information [Line Items]
Title of 12(b) Security	Preferred Share Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents		$ 63,386	$ 45,719
Short-term restricted cash		500	655
Investments		28,236	97,504
Receivables, net		5,271	9,195
Inventories		4,983	2,442
Prepaid and other current assets		3,910	3,306
Total current assets		106,286	158,821
Operating lease right-of-use assets		13,698	14,772
Property, plant and equipment, net		6,263	7,071
Goodwill and intangible assets, net		92	1,160
Long-term restricted cash		1,000	1,500
Collaboration Warrants, non-current		3,796	5,282
Other long-term assets		4,764	3,013
Total assets		135,899	191,619
LIABILITIES AND SHAREHOLDERS’ EQUITY
Trade payables		1,795	6,921
Contract liabilities		13,170	10,348
Contract loss provisions		26,648	28,418
Accrued expenses and other current liabilities		9,440	5,602
Total current liabilities		51,053	51,289
Operating lease liabilities, non-current		12,718	13,921
Warrant liabilities		316	642
Other long-term liabilities		1,712	443
Total liabilities		65,799	66,295
Commitments and contingencies (Note 15)
Shareholders’ equity
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares outstanding as of September 30, 2023 and December 31, 2022		0	0
Common stock, $0.0001 par value; 500,000,000 shares authorized and 5,908,724 shares issued and outstanding as of September 30, 2023; 5,511,839 shares issued and outstanding (excluding restricted shares of 1,733) as of December 31, 2022 (1)	[1]	1	1
Additional paid-in capital (1)	[1]	429,984	434,496
Accumulated other comprehensive loss		(508)	(593)
Accumulated deficit		(359,377)	(308,580)
Total shareholders’ equity		70,100	125,324
Total liabilities and shareholders’ equity		$ 135,899	$ 191,619
[1]Periods presented have been adjusted to reflect the 1-for-35 reverse stock split on August 31, 2023. See Note 1—Organization and Basis of Presentation—Reverse Stock Split, for additional information.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical)		Sep. 30, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)		10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)		0	0
Common stock, par value (in dollars per share) | $ / shares	[1]	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	[1]	500,000,000	500,000,000
Common stock, shares issued (in shares)	[1]	5,908,724	5,511,839
Common stock, shares outstanding (in shares)	[1]	5,908,724	5,511,839
Unvested equity instrument outstanding (in shares)	[1]		1,733
[1]Periods presented have been adjusted to reflect the 1-for-35 reverse stock split on August 31, 2023. See Note 1—Organization and Basis of Presentation—Reverse Stock Split, for additional information.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Services revenue		$ 1,096,000	$ 1,367,000	$ 2,874,000	$ 4,375,000
Grant revenue		1,177,000	1,733,000	2,730,000	4,656,000
Total revenue		2,273,000	3,100,000	5,604,000	9,031,000
Cost of revenue:
Cost of services revenue (including depreciation)		1,220,000	1,690,000	3,221,000	5,668,000
Cost of grant revenue		1,177,000	1,733,000	2,690,000	4,656,000
Contract loss (adjustments) provisions		(538,000)	0	(148,000)	33,737,000
Total cost of revenue		1,859,000	3,423,000	5,763,000	44,061,000
Gross profit (loss)		414,000	(323,000)	(159,000)	(35,030,000)
Operating expenses:
Selling, general and administrative		14,997,000	18,268,000	36,814,000	60,733,000
Research and development		5,162,000	11,168,000	15,368,000	26,448,000
Impairment charges		0	0	1,008,000	0
Total operating expenses		20,159,000	29,436,000	53,190,000	87,181,000
Operating loss		(19,745,000)	(29,759,000)	(53,349,000)	(122,211,000)
Interest income, net		335,000	259,000	888,000	666,000
Gain on warrant remeasurement		74,000	369,000	326,000	12,679,000
Other income, net		767,000	1,256,000	1,341,000	1,071,000
Net loss before taxes		(18,569,000)	(27,875,000)	(50,794,000)	(107,795,000)
(Provision) benefit for income taxes		(1,000)	46,000	(3,000)	781,000
Net loss		$ (18,570,000)	$ (27,829,000)	$ (50,797,000)	$ (107,014,000)
Loss per share:
Loss per share – Basic (in dollars per share)	[1]	$ (3.13)	$ (5.06)	$ (8.81)	$ (19.82)
Loss per share – Diluted (in dollars per share)	[1]	$ (3.13)	$ (5.06)	$ (8.81)	$ (19.82)
Weighted average number of shares outstanding – Basic (in shares)	[1]	5,935,823	5,502,183	5,765,356	5,398,872
Weighted average number of shares outstanding – Diluted (in shares)	[1]	5,935,823	5,502,183	5,765,356	5,398,872
[1]Periods presented have been adjusted to reflect the 1-for-35 reverse stock split on August 31, 2023. See Note 1—Organization and Basis of Presentation—Reverse Stock Split, for additional information.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical)	Aug. 31, 2023
Income Statement [Abstract]
Stockholders' equity note, stock split, conversion ratio	0.0286

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (18,570)	$ (27,829)	$ (50,797)	$ (107,014)
Other comprehensive income (loss), net of taxes:
Unrealized gains (losses) on available-for-sale securities	72	(18)	270	(524)
Cumulative translation adjustment	(124)	(173)	(185)	(497)
Total other comprehensive income (loss), net of taxes	(52)	(191)	85	(1,021)
Comprehensive loss	$ (18,622)	$ (28,020)	$ (50,712)	$ (108,035)

Consolidated Statements of Shar

Consolidated Statements of Shareholders’ Equity - USD ($) $ in Thousands		Total	Customer agreements	Common Stock		Additional Paid-in Capital	[1]	Additional Paid-in Capital Customer agreements	[1]	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021	[1]			5,239,070
Beginning balance at Dec. 31, 2021		$ 214,058		$ 1	[1]	$ 380,641				$ (4)	$ (166,580)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(107,014)									(107,014)
Other comprehensive income (loss)		(1,021)								(1,021)
Share-based compensation		34,612				34,612
Vesting of restricted stock units (in shares)	[1]			17,832
Exercise of stock options (in shares)	[1]			207,770
Exercise of stock options		1,057		$ 0	[1]	1,057
Vesting of warrants issued in connection with customer agreements			$ 9,559					$ 9,559
Ending balance (in shares) at Sep. 30, 2022	[1]			5,464,672
Ending balance at Sep. 30, 2022		151,251		$ 1	[1]	425,869				(1,025)	(273,594)
Beginning balance (in shares) at Dec. 31, 2021	[1]			5,239,070
Beginning balance at Dec. 31, 2021		214,058		$ 1	[1]	380,641				(4)	(166,580)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(142,000)
Ending balance (in shares) at Dec. 31, 2022	[1]			5,511,839
Ending balance at Dec. 31, 2022		125,324		$ 1	[1]	434,496				(593)	(308,580)
Beginning balance (in shares) at Jun. 30, 2022	[1]			5,431,149
Beginning balance at Jun. 30, 2022		168,946		$ 1	[1]	415,544				(834)	(245,765)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(27,829)									(27,829)
Other comprehensive income (loss)		(191)								(191)
Share-based compensation		10,052				10,052
Vesting of restricted stock units (in shares)	[1]			10,771
Exercise of stock options (in shares)	[1]			22,752
Exercise of stock options		142				142
Vesting of warrants issued in connection with customer agreements			131					131
Ending balance (in shares) at Sep. 30, 2022	[1]			5,464,672
Ending balance at Sep. 30, 2022		151,251		$ 1	[1]	425,869				(1,025)	(273,594)
Beginning balance (in shares) at Dec. 31, 2022	[1]			5,511,839
Beginning balance at Dec. 31, 2022		125,324		$ 1	[1]	434,496				(593)	(308,580)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(50,797)									(50,797)
Other comprehensive income (loss)		85								85
Share-based compensation		(6,078)				(6,078)
Issuance of common stock under employee stock purchase plan (in shares)	[1]			19,284
Issuance of common stock under employee stock purchase plan		168				168
Vesting of restricted stock units (in shares)	[1]			122,524
Exercise of stock options (in shares)	[1]			255,872
Exercise of stock options		1,171				1,171
Payment for fractional shares in connection with the reverse stock split (in shares)	[1]			(795)
Payment for fractional shares in connection with the reverse stock split		(7)				(7)
Vesting of warrants issued in connection with customer agreements			234					234
Ending balance (in shares) at Sep. 30, 2023	[1]			5,908,724
Ending balance at Sep. 30, 2023		70,100		$ 1	[1]	429,984				(508)	(359,377)
Beginning balance (in shares) at Jun. 30, 2023	[1]			5,844,979
Beginning balance at Jun. 30, 2023		88,319		$ 1	[1]	429,581				(456)	(340,807)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(18,570)									(18,570)
Other comprehensive income (loss)		(52)								(52)
Share-based compensation		305				305
Vesting of restricted stock units (in shares)	[1]			62,888
Exercise of stock options (in shares)	[1]			1,652
Exercise of stock options		10				10
Payment for fractional shares in connection with the reverse stock split (in shares)	[1]			(795)
Payment for fractional shares in connection with the reverse stock split		(7)				(7)
Vesting of warrants issued in connection with customer agreements			$ 95					$ 95
Ending balance (in shares) at Sep. 30, 2023	[1]			5,908,724
Ending balance at Sep. 30, 2023		$ 70,100		$ 1	[1]	$ 429,984				$ (508)	$ (359,377)
[1]Periods presented have been adjusted to reflect the 1-for-35 reverse stock split on August 31, 2023. See Note 1—Organization and Basis of Presentation—Reverse Stock Split, for additional information.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders’ Equity (Parenthetical)	Aug. 31, 2023
Statement of Stockholders' Equity [Abstract]
Stockholders' equity note, stock split, conversion ratio	0.0286

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (18,570)	$ (27,829)	$ (50,797)	$ (107,014)	$ (142,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			1,692	2,289
Impairment charges	0	0	1,008	0
Share-based compensation			(6,078)	34,612
Change in fair value of warrants	(74)	(369)	(326)	(12,679)
Change in fair value of contingent consideration			1,289	(1,063)
Deferred income taxes			3	(781)
Non-cash operating lease expense			1,261	1,199
Other non-cash operating activities			(1,489)	90
Changes in assets and liabilities:
Receivables, net			3,556	(2,778)
Inventories			(2,450)	0
Prepaid and other current assets			(605)	(1,706)
Trade payables and accrued liabilities			(1,789)	67
Contract liabilities			3,056	8,535
Change in contract loss provisions, net			(1,776)	30,235
Other non-current assets and liabilities			(1,477)	(551)
Net cash used in operating activities			(54,922)	(49,545)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(1,146)	(7,313)
Purchases of available-for-sale securities			(89,856)	(237,986)
Maturities of available-for-sale securities			161,600	75,300
Sales of available-for-sale securities			0	65,817
Net cash provided by (used in) investing activities			70,598	(104,182)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options			1,175	1,019
Proceeds from issuance of common stock under employee stock purchase plan			168	0
Payment for fractional shares in connection with the reverse stock split			(7)	0
Other financing costs			0	(1,274)
Net cash provided by (used in) financing activities			1,336	(255)
Increase (decrease) in cash, cash equivalents and restricted cash			17,012	(153,982)
Cash, cash equivalents and restricted cash at the beginning of the period			47,874	191,581	191,581
Cash, cash equivalents and restricted cash at the end of the period	64,886	37,599	64,886	37,599	47,874
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	63,386	35,444	63,386	35,444	45,719
Short-term restricted cash	500	655	500	655	655
Long-term restricted cash	1,000	1,500	1,000	1,500	1,500
Total cash, cash equivalents and restricted cash	$ 64,886	$ 37,599	64,886	37,599	$ 47,874
Non-cash investing and financing activities:
Fair value of Project Warrants and Collaboration Warrants recognized in equity			234	9,559
Capital expenditures incurred but not yet paid			$ 83	$ 522

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1—Organization and Basis of Presentation Background Heliogen, Inc. and 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 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,” “us,” or “our” and similar expressions refer to Heliogen. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Accordingly, these unaudited consolidated financial statements do not include all information or notes required by GAAP for annual financial statements. In the opinion of management, the unaudited consolidated 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 reported in these unaudited consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. These unaudited consolidated financial statements should be read in conjunction with the annual financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2023. 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 operations. Reverse Stock Split On August 31, 2023, the Company effected a 1-for-35 reverse stock split of the Company’s common stock. As a result of the reverse stock split, every 35 shares of the Company’s issued and outstanding common stock as of 5:00 p.m. (Eastern Time) on August 31, 2023 was automatically combined into one issued and outstanding share of common stock, with no change in par value per share. No fractional shares of common stock were issued as a result of the reverse stock split. Any fractional shares in connection with the reverse stock split were rounded down to the nearest whole share and cash payments were made to the stockholders. The reverse stock split had no impact on the number of shares of common stock or preferred stock that the Company is authorized to issue pursuant to its certificate of incorporation. Proportional adjustments were made to the number of shares of common stock issuable upon exercise or conversion of the Company's equity awards and warrants, as well as the applicable exercise price. All share and per share information included in this Quarterly Report on Form 10-Q has been retroactively adjusted to reflect the impact of the reverse stock split. Liquidity The Company has evaluated whether there were conditions and events, considered in the aggregate, which raise substantial doubt as to the Company’s ability to continue as a going concern within one year after the original issuance date of the unaudited consolidated financial statements. During the nine months ended September 30, 2023 and the year ended December 31, 2022, the Company incurred net losses of $50.8 million and $142.0 million, respectively. The Company expects to continue to generate operating losses in the next few years. As of September 30, 2023, the Company had liquidity of $91.6 million, consisting of $63.4 million of cash and cash equivalents and $28.2 million of investments, and no substantial debt. Management believes it has the ability to manage operating costs and capital expenditures such that its existing cash, cash equivalents and investments will be sufficient to fund its operations and capital expenditures for the next twelve months following the filing of this Quarterly Report on Form 10-Q. The Company’s long-term liquidity will depend on its ability to (i) successfully complete current projects within budget, (ii) raise additional capital through the issuance of additional equity or debt securities, (iii) sign additional projects at a profit, (iv) obtain funding and receive payment for research and development (“R&D”) projects, (v) implement project cost reductions to reduce the expected cash outflows and (vi) manage operating costs. There is no assurance that the Company will be successful in achieving all or any of these items. If the Company is unsuccessful in achieving all or any of these items, the Company may be forced to delay, reduce or eliminate some or all of its R&D programs, product expansion or commercialization efforts, any of which could adversely affect its business prospects, or the Company may be unable to continue operations. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. Despite our intention to establish accurate estimates and reasonable assumptions, actual results could differ materially from such estimates and assumptions. Recent Accounting Standards In January 2017, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the second step of the previous two-step quantitative test of goodwill impairment. Under the new guidance, the quantitative test consists of a single step in which the carrying amount of the reporting unit is compared to its fair value. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the amount of the impairment would be limited to the total amount of goodwill allocated to the reporting unit. The guidance does not affect the existing option to perform the qualitative assessment for a reporting unit to determine whether the quantitative impairment test is necessary. The new guidance will be effective for smaller reporting companies for fiscal years beginning after December 15, 2022. The Company adopted this guidance on January 1, 2023 and it did not have a material impact on the Company’s consolidated financial statements.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Note 2—Revenue Disaggregated Revenue The following table provides information about disaggregated revenue: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Project revenue $ 950 $ 1,324 $ 2,401 $ 4,207 Engineering services revenue 146 43 473 168 Total services revenue 1,096 1,367 2,874 4,375 Grant revenue 1,177 1,733 2,730 4,656 Total revenue $ 2,273 $ 3,100 $ 5,604 $ 9,031 Services Revenue Project revenue consists of amounts recognized under contracts with customers for the development, construction and delivery of commercial-scale concentrated solar energy facilities. The Company’s recognized project revenue is associated with a commercial-scale demonstration agreement (“CSDA”) executed with Woodside Energy (USA) Inc. (“Woodside”) in March 2022. Engineering services revenue consists of amounts recognized under contracts with customers for the provision of engineering, R&D, or other similar services in our field of expertise. Engineering service contracts can be short-term or span several years and we recognize revenue over time as customers receive and consume the benefit of such services. Revenue recognized during the three and nine months ended September 30, 2023 and 2022 includes customers in the United States (“U.S.”) and Europe. Grant Revenue The Company’s grant revenue is primarily related to the Company’s award from the U.S. Department of Energy (the “DOE Award”) related to costs incurred during such periods that are reimbursable under the DOE Award. Contract Loss Provisions (Adjustments) As of September 30, 2023, the Company does not anticipate incurring additional costs associated with our projects in Germany. As a result, during the three and nine months ended September 30, 2023, we recognized a reduction in contract loss provision of $0.5 million and $0.1 million associated with our projects in Germany. During the nine months ended September 30, 2022, we recognized a total provision for contract losses of $33.7 million driven primarily by the CSDA. No provision for contract losses was recognized during the three months ended September 30, 2022. We amortized $0.3 million and $1.6 million during the three and nine months ended September 30, 2023, respectively, and $0.3 million and $3.5 million during the three and nine months ended September 30, 2022, respectively, of the previously recognized contract loss provisions as a reduction to cost of services revenue incurred during the periods based on percentages of completion. Performance Obligations Revenue recognized under contracts with customers, which excludes amounts to be received from government grants, relates solely to the performance obligations satisfied during the nine months ended September 30, 2023 with no revenue recognized from performance obligations satisfied in prior periods. As of September 30, 2023, we had approximately $36.0 million of transaction prices allocated to remaining performance obligations from our customer contracts. Based on our current forecast, we expect to recognize approximately 82% as revenue over the next 12 months and the remainder to be recognized thereafter through 2026. Receivables, Net Receivables, net consisted of the following: $ in thousands September 30, 2023 December 31, 2022 Trade receivables $ 866 $ 1,119 Grant receivables: Billed 1,421 — Unbilled 2,791 5,610 Other grant receivables — 1,578 Total grant receivables 4,212 7,188 Contract assets — 560 Other receivables 391 328 Total receivables 5,469 9,195 Allowance for doubtful accounts (198) — Total receivables, net $ 5,271 $ 9,195 Contract Assets and Liabilities The following table outlines the activity related to contract assets, which is included in total receivables on our consolidated balance sheets: $ in thousands Balance as of December 31, 2022 $ 560 Additions to unbilled receivables 177 Amounts billed to customers (729) Foreign currency translation adjustments (8) Balance as of September 30, 2023 $ — The following table outlines the activity related to contract liabilities: $ in thousands Balance as of December 31, 2022 $ 10,348 Payments received in advance of performance 5,460 Revenue recognized (2,401) Recognition of consideration payable associated with Project Warrants (234) Other (3) Balance as of September 30, 2023 $ 13,170 During the three and nine months ended September 30, 2023, we recognized revenue of $1.0 million and $2.4 million, respectively, that was included in contract liabilities as of December 31, 2022. Customer Concentrations For the three months ended September 30, 2023 and 2022, two customers, including governmental entities, each comprised greater than 10% of our total revenue and collectively represented 94% and 99%, respectively, of our total revenue. For the nine months ended September 30, 2023 and 2022, two customers, including governmental entities, each comprised greater than 10% of our total revenue and collectively represented 91% and 98%, respectively, of our total revenue.

Warrants

Warrants	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Warrants	Note 3—Warrants Public Warrants and Private Warrants The Company’s warrant liabilities as of September 30, 2023 include public warrants (the “Public Warrants”) and private placement warrants (the “Private Warrants,” and together with the Public Warrants, the “Public and Private Warrants”). The Public Warrants and Private Warrants permit warrant holders to purchase in the aggregate 238,095 shares and 6,667 shares, respectively, of the Company’s common stock at an exercise price of $402.50 per share. The Public and Private Warrants became exercisable on March 18, 2022 and expire on December 30, 2026, or earlier upon redemption or liquidation. The Public and Private Warrants are recorded as liabilities on the consolidated balance sheets and measured at fair value at each reporting date, with the change in fair value reported in gain (loss) on warrant remeasurement on the consolidated statements of operations. Project Warrants In connection with the concurrent execution of the CSDA with Woodside in March 2022, the Company issued warrants permitting Woodside to purchase 26,068 shares of the Company’s common stock at an exercise price of $0.35 per share (the “Project Warrants”). The Project 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 $173.60 per warrant based on the closing price of the Company’s common stock on March 28, 2022, less the exercise price. The Project Warrants are recorded as equity on the consolidated balance sheets. During the three and nine months ended September 30, 2023, $0.1 million and $0.2 million, respectively, was recognized as additional paid-in capital related to the vesting of Project Warrants. During the three and nine months ended September 30, 2022, $0.1 million and $0.5 million, respectively, was recognized as additional paid-in capital related to the vesting of Project Warrants. As of September 30, 2023, vested Project Warrants were exercisable for 17,243 shares of the Company’s common stock. 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 104,275 shares of the Company’s common stock at an exercise price of $0.35 per share (the “Collaboration Warrants”). Under the Collaboration Agreement, Woodside will assist us in defining product offerings that use our modular technology for potential customers in Australia. The Collaboration Warrants expire upon the earlier of a change in control of the Company or March 28, 2027. Of these warrants, (i) approximately half of the warrants vested immediately upon execution of the Collaboration Agreement, to purchase 52,138 shares of the Company’s common stock and (ii) the remaining warrants will vest based on certain specified performance goals under the Collaboration Agreement. The fair value of the Collaboration Warrants upon issuance was $173.60 per warrant based on the closing price of the Company’s common stock on March 28, 2022, less the exercise price.

Investments

Investments	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Note 4—Investments The following table summarizes our investments: September 30, 2023 December 31, 2022 $ in thousands Amortized Unrealized Fair Amortized Unrealized Fair Corporate bonds $ — $ — $ — $ 3,997 $ (22) $ 3,975 Commercial paper 990 (1) 989 10,837 (3) 10,834 U.S. treasury bills 27,285 (38) 27,247 82,979 (284) 82,695 Total investments $ 28,275 $ (39) $ 28,236 $ 97,813 $ (309) $ 97,504 As of September 30, 2023 and December 31, 2022, all of our investments are classified as available-for-sale, have original maturities of one year or less and are disclosed as investments on our consolidated balance sheets. The cost of securities sold is based on the specific-identification method. During the nine months ended September 30, 2023, there were no sales of investments. During the nine months ended September 30, 2022, we realized losses of $0.2 million on the sale of investments, included in other income, net on our consolidated statements of operations related to $65.8 million in proceeds from the sale of investments. There were no credit losses recognized during the three and nine months ended September 30, 2023 and 2022 and no allowance for credit losses as of September 30, 2023 and December 31, 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 5—Fair Value of Financial Instruments 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, 2023 December 31, 2022 Assets: Investments 1 $ 28,236 $ 97,504 Liabilities: Public Warrants (1) 1 $ 307 $ 625 Private Warrants (1) 2 9 17 Contingent consideration (2) 3 1,642 353 ________________ (1) Included in warrant liabilities on the consolidated balance sheets. (2) Included in other long-term liabilities on the consolidated balance sheets. Private Warrants. The fair value of the Private Warrants approximates the fair value of the Public Warrants due to the existence of similar redemption provisions. As a result, the Company has determined that the fair value of the Private Warrants at a specific date would be similar to that of the Public Warrants, and thus their fair value is determined by using the closing price of the Public Warrants, which was $0.04 as of September 30, 2023. Contingent Consideration. The contingent consideration was measured at fair value using a probability-weighted cash-flow method. The key inputs used in the valuation for the contingent consideration as of September 30, 2023 included the timing and probability of payment. The following table summarizes the activities of our Level 3 fair value measurement: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Beginning balance $ 1,590 $ 2,062 $ 353 $ 2,009 Change in fair value (1) 52 (1,116) 1,289 (1,063) Ending balance $ 1,642 $ 946 $ 1,642 $ 946 ________________ (1) The changes in the fair value of the contingent consideration are reported in other income (expense), net on our consolidated statements of operations.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Note 6—Inventories $ in thousands September 30, 2023 December 31, 2022 Raw materials $ 2,908 $ 2,442 Finished goods 1,926 — Work in process 149 — Total inventories $ 4,983 $ 2,442

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 7—Property, Plant & Equipment Major classes of property, plant and equipment, consisted of the following: $ in thousands Estimated Useful Lives in Years September 30, 2023 December 31, 2022 Leasehold improvements 5 — 7 $ 3,107 $ 2,931 Computer equipment 2 — 3 2,151 2,124 Machinery, vehicles and other equipment 5 — 10 4,079 3,528 Furniture and fixtures 2 — 5 664 646 Construction in progress 538 419 Total property, plant and equipment 10,539 9,648 Accumulated depreciation (4,276) (2,577) Total property, plant and equipment, net $ 6,263 $ 7,071

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 8—Goodwill and Intangible Assets Goodwill The Company had goodwill related to the acquisition of HelioHeat GmbH, 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. During the first quarter of 2023, the Company performed a goodwill impairment assessment driven by the sustained decline in the Company’s market capitalization below the Company’s carrying value. Management concluded that it is more likely than not that the fair value of our reporting unit was less than its carrying amount as of March 31, 2023. As a result, the Company fully impaired goodwill and recognized a $1.0 million charge during the three months ended March 31, 2023. The Company had no impairments of goodwill recognized during the nine months ended September 30, 2022. The changes in the carrying amount of goodwill are as follows: $ in thousands Balance as of December 31, 2022 $ 1,004 Currency translation adjustments 4 Impairment (1,008) Balance as of September 30, 2023 $ — Intangible Assets Intangible assets consisted of the following: September 30, 2023 December 31, 2022 $ in thousands Useful Life in Years Gross Carrying Amounts Accumulated Amortization Intangible Assets, Net Gross Carrying Amounts Accumulated Amortization and Impairment Intangible Assets, Net Acquired developed technology rights (1) 5 $ — $ — $ — $ 3,799 $ (3,799) $ — Software licenses 3 259 (167) 92 259 (103) 156 Total $ 259 $ (167) $ 92 $ 4,058 $ (3,902) $ 156 ________________ (1) Gross carrying amount for December 31, 2022 reflects currency translation adjustments of $0.4 million.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Note 9—Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: $ in thousands September 30, 2023 December 31, 2022 Payroll and other employee benefits $ 1,758 $ 811 Professional fees 2,661 729 Research, development and project costs 2,499 1,313 Inventory in-transit 18 654 Operating lease liabilities, current portion 1,737 1,570 Other accrued expenses 767 525 Total accrued expenses and other current liabilities $ 9,440 $ 5,602

Equity

Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Equity	Note 10—Equity Common Stock The Company is authorized to issue 500,000,000 shares of common stock, $0.0001 par value per share. As of September 30, 2023 and December 31, 2022, there were 5,908,724 and 5,511,839 shares of common stock issued and outstanding, respectively. Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock, $0.0001 par value per share. As of September 30, 2023, no shares of preferred stock have been issued. The Company’s Board of Directors (the “Board”) has the authority to issue shares of preferred stock and to determine the rights, preferences, privileges and restrictions, including voting rights, of those shares. ATM Agreement On September 13, 2023, the Company entered into a Sales Agreement with The Benchmark Company, LLC, as agent (“Benchmark”), pursuant to which the Company may, from time to time, offer and sell shares of the Company’s common stock in an at-the-market offering program through or to Benchmark as its sales agent or principal (the “ATM Agreement”). The offer and sale of the Company’s common stock will be made pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-271170) initially filed by the Company with the SEC on April 6, 2023 and declared effective by the SEC on July 18, 2023, as supplemented by a prospectus supplement dated September 13, 2023 and filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended. Under the ATM Agreement, the Company will pay Benchmark an aggregate commission of up to 3% of the aggregate gross proceeds of any shares of the Company’s common stock sold under the ATM Agreement in an amount of up to $40.0 million. As of September 30, 2023, no shares of common stock were sold under the ATM Agreement. The Company may not utilize the ATM Agreement while trading of its common stock is suspended or delisted from the NYSE. On November 7, 2023, the Company received a letter from the NYSE that it had determined to commence proceedings to delist the Company’s common stock from the NYSE, and trading of the Company’s common stock was immediately suspended. Refer to Note 16—Subsequent Events for additional information. Stockholders Rights Plan On April 16, 2023, the Company’s Board declared a dividend of one preferred share purchase right (“Right”) for each outstanding share of the Company’s common stock to the stockholders of record as of the close of business on April 28, 2023, and adopted a limited duration stockholder rights plan, effective immediately, as set forth in the Rights Agreement, dated as of April 16, 2023 (the “Rights Agreement”), by and between the Company and Continental Stock Transfer & Trust Company, as rights agent. The Rights will be exercisable only if a person or group (an “acquiring person”) acquires or launches a tender or exchange offer to acquire beneficial ownership (which includes certain synthetic equity interests) of 12.5% or more of the Company’s outstanding common stock (20% for certain passive institutional investors as described in the Rights Agreement). Once the Rights become exercisable, each Right will entitle its holder (other than the acquiring person, whose rights will become void) to purchase for $122.50, subject to adjustment, additional shares of our common stock having a market value of twice such exercise price. In addition, the Rights Agreement has customary flip-over and exchange features. The Rights will expire on April 17, 2024 unless the rights are earlier redeemed or exchanged by the Company. The Rights Agreement will reduce the likelihood that any entity, person or group gains control of Heliogen through open market accumulation without paying all stockholders an appropriate control premium or without providing our Board sufficient time to make informed judgments and take actions that are in the best interests of all stockholders.

Loss per Share

Loss per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Loss Per Share	Note 11—Loss per Share Basic and diluted losses per share (“EPS”) were as follows: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands, except share and per share data 2023 2022 2023 2022 Numerator: Net loss $ (18,570) $ (27,829) $ (50,797) $ (107,014) Denominator: Weighted-average common shares outstanding 5,865,954 5,443,501 5,698,405 5,360,895 Weighted-average impact of warrants (1) 69,869 58,682 66,951 37,977 Denominator for basic EPS – weighted-average shares 5,935,823 5,502,183 5,765,356 5,398,872 Effect of dilutive securities — — — — Denominator for diluted EPS – weighted-average shares 5,935,823 5,502,183 5,765,356 5,398,872 EPS – Basic and Diluted $ (3.13) $ (5.06) $ (8.81) $ (19.82) ________________ (1) Warrants that have a $0.35 exercise price per common share 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 losses per share as their impact would be anti-dilutive: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Stock options 239,424 942,853 239,424 942,853 Shares issuable under the employee stock purchase plan 18,103 — 18,103 — Unvested restricted stock units 447,286 327,974 447,286 327,974 Restricted shares issued upon the early exercise of unvested stock options — 3,886 — 3,886 Unvested warrants 61,533 71,347 61,533 71,347 Vested warrants 244,762 244,762 244,762 244,762

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Note 12—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 stock options, stock appreciation right awards, restricted stock awards, restricted stock unit (“RSU”) awards, performance awards, and other stock-based awards. The following table summarizes our share-based compensation expense by the affected line on our consolidated statements of operations: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Cost of services revenue $ 197 $ 330 $ 442 $ 1,321 Selling, general and administrative 199 7,641 (7,344) 28,830 Research and development (91) 2,081 824 4,461 Total share-based compensation expense $ 305 $ 10,052 $ (6,078) $ 34,612 The following table summarizes our share-based compensation expense by grant type: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Stock options $ 172 $ 4,251 $ (11,883) $ 16,227 Restricted stock units 75 5,721 5,449 18,251 Employee stock purchase plan 49 — 240 — Vendor Warrants 9 80 116 134 Total share-based compensation expense $ 305 $ 10,052 $ (6,078) $ 34,612 Stock Options The following table summarizes the Company’s stock option activity: $ in thousands, except share and per share data Number of Shares Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value ($) Outstanding balance as of December 31, 2022 891,509 $ 107.85 7.62 $ 10,725 Exercised (254,139) 4.57 Forfeited (312,046) 215.87 Expired (85,900) 291.31 Outstanding balance as of September 30, 2023 239,424 $ 12.65 6.34 $ 31 Exercisable as of September 30, 2023 165,947 $ 11.29 5.92 $ 31 During the nine months ended September 30, 2023, we recognized a net reduction of $12.5 million in share-based compensation expense, included in SG&A, as a result of 279,589 stock options forfeited in connection with the termination of our former Chief Executive Officer in the first quarter of 2023. As of September 30, 2023, the unrecognized compensation cost related to stock options was $0.9 million which is expected to be recognized over a weighted-average period of 1.5 years. Restricted Stock Units The following table summarizes the Company’s RSU award activity: Number of Shares Weighted Average Grant Date Fair Value ($) Unvested as of December 31, 2022 327,141 $ 153.12 Granted 341,242 9.88 Vested (122,524) 114.77 Forfeited (98,573) 112.81 Unvested as of September 30, 2023 447,286 $ 61.87 As of September 30, 2023, the unrecognized compensation cost related to unvested RSU awards was $17.5 million which is expected to be recognized over a weighted-average period of 1.3 years. Employee Stock Purchase Plan Under the Heliogen, Inc. 2021 Employee Stock Purchase Plan (the “2021 ESPP”), eligible employees may elect to purchase the Company’s common stock at the end of each offering period, which will generally be six months, at a 15% discount to the market price of the Company’s common stock. As of September 30, 2023, 19,284 shares have been issued under the 2021 ESPP.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 13—Income Taxes We calculate our quarterly tax provision pursuant to the guidelines in Accounting Standards Codification (“ASC”) 740, Income Taxes . ASC 740 requires companies to estimate the annual effective tax rate for current year ordinary income. In calculating the effective tax rate, permanent differences between financial reporting and taxable income are factored into the calculation, and temporary differences are not. The estimated annual effective tax rate represents the Company’s estimate of the tax provision in relation to the best estimate of pre-tax ordinary income or loss. The estimated annual effective tax rate is then applied to year-to-date ordinary income or loss to calculate the year-to-date interim tax provision. 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 provision was $1 thousand and $3 thousand for the three and nine months ended September 30, 2023, respectively. The income tax benefit of $46 thousand and $0.8 million for the three and nine months ended September 30, 2022, respectively, is primarily attributable to our operations in Germany. Any income tax benefit associated with the pre-tax loss for the three and nine months ended September 30, 2023 and 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 for the nine months ended September 30, 2023 and the year ended December 31, 2022. 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 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 14—Related Party Transactions Idealab Bill Gross, our former Chief Executive Officer, also serves as the chairman of the board of directors of Idealab, a California Corporation (“Idealab”). Idealab, a holder of more than 5% 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 administrative services through service agreements and certain other operational support. All expenses or amounts paid to Idealab pursuant to these agreements are reported within SG&A expense on the consolidated statements of operations. The amounts charged to us or reimbursed by us under these agreements was $54 thousand and $133 thousand for the three months ended September 30, 2023 and 2022, respectively, and $0.2 million and $0.4 million for the nine months ended September 30, 2023 and 2022, respectively. In May 2021, Heliogen sub-leased a portion of its office space in Pasadena, California to Idealab. In March 2023, Heliogen entered into an amendment to the sub-lease with Idealab. The Company recognized rental revenue of $45 thousand and $35 thousand for the three months ended September 30, 2023 and 2022, respectively, and $114 thousand and $82 thousand for the nine months ended September 30, 2023 and 2022, respectively, from Idealab within other income, net on our consolidated statements of operations. NantG Power, LLC On March 24, 2023, Heliogen entered into an agreement with NantG Power, LLC (“NantG”), an affiliated sister-company to Nant Capital LLC, a holder of more than 5% of Heliogen’s outstanding voting stock, to provide front-end concept design and R&D engineering services. During the three and nine months ended September 30, 2023, the Company recognized $15 thousand of services revenue from NantG.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15—Commitments and ContingenciesWe 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 consolidated financial statements as of and for the three and nine months ended September 30, 2023.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 16—Subsequent Events Stockholder Matters

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Accordingly, these unaudited consolidated financial statements do not include all information or notes required by GAAP for annual financial statements. In the opinion of management, the unaudited consolidated 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 reported in these unaudited consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. These unaudited consolidated financial statements should be read in conjunction with the annual financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2023. 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 operations.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. Despite our intention to establish accurate estimates and reasonable assumptions, actual results could differ materially from such estimates and assumptions.
Recent Accounting Standards	Recent Accounting Standards In January 2017, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the second step of the previous two-step quantitative test of goodwill impairment. Under the new guidance, the quantitative test consists of a single step in which the carrying amount of the reporting unit is compared to its fair value. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the amount of the impairment would be limited to the total amount of goodwill allocated to the reporting unit. The guidance does not affect the existing option to perform the qualitative assessment for a reporting unit to determine whether the quantitative impairment test is necessary. The new guidance will be effective for smaller reporting companies for fiscal years beginning after December 15, 2022. The Company adopted this guidance on January 1, 2023 and it did not have a material impact on the Company’s consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table provides information about disaggregated revenue: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Project revenue $ 950 $ 1,324 $ 2,401 $ 4,207 Engineering services revenue 146 43 473 168 Total services revenue 1,096 1,367 2,874 4,375 Grant revenue 1,177 1,733 2,730 4,656 Total revenue $ 2,273 $ 3,100 $ 5,604 $ 9,031
Schedule of Accounts, Notes, Loans and Financing Receivable	Receivables, net consisted of the following: $ in thousands September 30, 2023 December 31, 2022 Trade receivables $ 866 $ 1,119 Grant receivables: Billed 1,421 — Unbilled 2,791 5,610 Other grant receivables — 1,578 Total grant receivables 4,212 7,188 Contract assets — 560 Other receivables 391 328 Total receivables 5,469 9,195 Allowance for doubtful accounts (198) — Total receivables, net $ 5,271 $ 9,195
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following table outlines the activity related to contract assets, which is included in total receivables on our consolidated balance sheets: $ in thousands Balance as of December 31, 2022 $ 560 Additions to unbilled receivables 177 Amounts billed to customers (729) Foreign currency translation adjustments (8) Balance as of September 30, 2023 $ — The following table outlines the activity related to contract liabilities: $ in thousands Balance as of December 31, 2022 $ 10,348 Payments received in advance of performance 5,460 Revenue recognized (2,401) Recognition of consideration payable associated with Project Warrants (234) Other (3) Balance as of September 30, 2023 $ 13,170

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	The following table summarizes our investments: September 30, 2023 December 31, 2022 $ in thousands Amortized Unrealized Fair Amortized Unrealized Fair Corporate bonds $ — $ — $ — $ 3,997 $ (22) $ 3,975 Commercial paper 990 (1) 989 10,837 (3) 10,834 U.S. treasury bills 27,285 (38) 27,247 82,979 (284) 82,695 Total investments $ 28,275 $ (39) $ 28,236 $ 97,813 $ (309) $ 97,504

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 Assets: Investments 1 $ 28,236 $ 97,504 Liabilities: Public Warrants (1) 1 $ 307 $ 625 Private Warrants (1) 2 9 17 Contingent consideration (2) 3 1,642 353 ________________ (1) Included in warrant liabilities on the consolidated balance sheets. (2) Included in other long-term liabilities on the consolidated balance sheets.
Reconciliation of Level 3 Fair Value Liabilities	The following table summarizes the activities of our Level 3 fair value measurement: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Beginning balance $ 1,590 $ 2,062 $ 353 $ 2,009 Change in fair value (1) 52 (1,116) 1,289 (1,063) Ending balance $ 1,642 $ 946 $ 1,642 $ 946 ________________ (1) The changes in the fair value of the contingent consideration are reported in other income (expense), net on our consolidated statements of operations.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	$ in thousands September 30, 2023 December 31, 2022 Raw materials $ 2,908 $ 2,442 Finished goods 1,926 — Work in process 149 — Total inventories $ 4,983 $ 2,442

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Major classes of property, plant and equipment, consisted of the following: $ in thousands Estimated Useful Lives in Years September 30, 2023 December 31, 2022 Leasehold improvements 5 — 7 $ 3,107 $ 2,931 Computer equipment 2 — 3 2,151 2,124 Machinery, vehicles and other equipment 5 — 10 4,079 3,528 Furniture and fixtures 2 — 5 664 646 Construction in progress 538 419 Total property, plant and equipment 10,539 9,648 Accumulated depreciation (4,276) (2,577) Total property, plant and equipment, net $ 6,263 $ 7,071

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill are as follows: $ in thousands Balance as of December 31, 2022 $ 1,004 Currency translation adjustments 4 Impairment (1,008) Balance as of September 30, 2023 $ —
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following: September 30, 2023 December 31, 2022 $ in thousands Useful Life in Years Gross Carrying Amounts Accumulated Amortization Intangible Assets, Net Gross Carrying Amounts Accumulated Amortization and Impairment Intangible Assets, Net Acquired developed technology rights (1) 5 $ — $ — $ — $ 3,799 $ (3,799) $ — Software licenses 3 259 (167) 92 259 (103) 156 Total $ 259 $ (167) $ 92 $ 4,058 $ (3,902) $ 156 ________________ (1) Gross carrying amount for December 31, 2022 reflects currency translation adjustments of $0.4 million.

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses and other current liabilities consisted of the following: $ in thousands September 30, 2023 December 31, 2022 Payroll and other employee benefits $ 1,758 $ 811 Professional fees 2,661 729 Research, development and project costs 2,499 1,313 Inventory in-transit 18 654 Operating lease liabilities, current portion 1,737 1,570 Other accrued expenses 767 525 Total accrued expenses and other current liabilities $ 9,440 $ 5,602

Loss per Share (Tables)

Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted losses per share (“EPS”) were as follows: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands, except share and per share data 2023 2022 2023 2022 Numerator: Net loss $ (18,570) $ (27,829) $ (50,797) $ (107,014) Denominator: Weighted-average common shares outstanding 5,865,954 5,443,501 5,698,405 5,360,895 Weighted-average impact of warrants (1) 69,869 58,682 66,951 37,977 Denominator for basic EPS – weighted-average shares 5,935,823 5,502,183 5,765,356 5,398,872 Effect of dilutive securities — — — — Denominator for diluted EPS – weighted-average shares 5,935,823 5,502,183 5,765,356 5,398,872 EPS – Basic and Diluted $ (3.13) $ (5.06) $ (8.81) $ (19.82) ________________ (1) Warrants that have a $0.35 exercise price per common share 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 losses per share as their impact would be anti-dilutive: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Stock options 239,424 942,853 239,424 942,853 Shares issuable under the employee stock purchase plan 18,103 — 18,103 — Unvested restricted stock units 447,286 327,974 447,286 327,974 Restricted shares issued upon the early exercise of unvested stock options — 3,886 — 3,886 Unvested warrants 61,533 71,347 61,533 71,347 Vested warrants 244,762 244,762 244,762 244,762

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	The following table summarizes our share-based compensation expense by the affected line on our consolidated statements of operations: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Cost of services revenue $ 197 $ 330 $ 442 $ 1,321 Selling, general and administrative 199 7,641 (7,344) 28,830 Research and development (91) 2,081 824 4,461 Total share-based compensation expense $ 305 $ 10,052 $ (6,078) $ 34,612 The following table summarizes our share-based compensation expense by grant type: Three Months Ended Nine Months Ended September 30, September 30, $ in thousands 2023 2022 2023 2022 Stock options $ 172 $ 4,251 $ (11,883) $ 16,227 Restricted stock units 75 5,721 5,449 18,251 Employee stock purchase plan 49 — 240 — Vendor Warrants 9 80 116 134 Total share-based compensation expense $ 305 $ 10,052 $ (6,078) $ 34,612
Schedule of Stock Option Activity	The following table summarizes the Company’s stock option activity: $ in thousands, except share and per share data Number of Shares Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value ($) Outstanding balance as of December 31, 2022 891,509 $ 107.85 7.62 $ 10,725 Exercised (254,139) 4.57 Forfeited (312,046) 215.87 Expired (85,900) 291.31 Outstanding balance as of September 30, 2023 239,424 $ 12.65 6.34 $ 31 Exercisable as of September 30, 2023 165,947 $ 11.29 5.92 $ 31
Schedule of RSU Activity	The following table summarizes the Company’s RSU award activity: Number of Shares Weighted Average Grant Date Fair Value ($) Unvested as of December 31, 2022 327,141 $ 153.12 Granted 341,242 9.88 Vested (122,524) 114.77 Forfeited (98,573) 112.81 Unvested as of September 30, 2023 447,286 $ 61.87

Organization and Basis of Pre_3

Organization and Basis of Presentation - Narrative (Details) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2023	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stockholders' equity note, stock split, conversion ratio	0.0286
Net loss		$ 18,570	$ 27,829	$ 50,797	$ 107,014	$ 142,000
Liquidity		91,600		91,600
Cash and cash equivalents		63,386	$ 35,444	63,386	$ 35,444	45,719
Investments		$ 28,236		$ 28,236		$ 97,504

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Services revenue	$ 1,096	$ 1,367	$ 2,874	$ 4,375
Grant revenue	1,177	1,733	2,730	4,656
Total revenue	2,273	3,100	5,604	9,031
Project revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Services revenue	950	1,324	2,401	4,207
Engineering services revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Services revenue	$ 146	$ 43	$ 473	$ 168

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract loss (adjustments) provisions	$ (538,000)	$ 0	$ (148,000)	$ 33,737,000
Amortization of loss on contracts	300,000	$ 300,000	1,600,000	$ 3,500,000
Revenue recognized from prior performance obligation			0
Revenue, remaining performance obligation	36,000,000		36,000,000
Revenue recognized from prior performance obligation	$ 1,000,000		$ 2,400,000
Two Customers | Revenue Benchmark | Customer Concentration Risk
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk, percentage	94%	99%	91%	98%
Two Customers | Accounts Receivable | Customer Concentration Risk
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk, percentage			90%		90%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	82%		82%
Revenue, remaining performance obligation, period	12 months		12 months

Revenue - Schedule of Receivabl

Revenue - Schedule of Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 866	$ 1,119
Total grant receivables	4,212	7,188
Contract assets	0	560
Other receivables	391	328
Total receivables	5,469	9,195
Allowance for doubtful accounts	(198)	0
Total receivables, net	5,271	9,195
Billed Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total grant receivables	1,421	0
Unbilled Revenues
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total grant receivables	2,791	5,610
Other grant receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total grant receivables	$ 0	$ 1,578

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets and Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Contract Asset [Roll Forward]
Contract assets with customer beginning balance	$ 560
Additions to unbilled receivables	177
Amounts billed to customers	(729)
Foreign currency translation adjustments	(8)
Contract assets with customer ending balance	0
Contract Liabilities [Roll Forward]
Contract liabilities with customer beginning balance	10,348
Payments received in advance of performance	5,460
Revenue recognized	(2,401)
Recognition of consideration payable associated with Project Warrants	(234)
Other	(3)
Contract liabilities with customer ending balance	$ 13,170

Warrants - Narrative (Details)

Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Mar. 31, 2022
Class of Warrant or Right [Line Items]
Warrants, exercise price (in dollars per share)	$ 0.35	$ 0.35	$ 0.35	$ 0.35
Collaboration Warrants, non-current	$ 3,796		$ 3,796		$ 5,282
Public warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares)	238,095		238,095
Private warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares)	6,667		6,667
Public and private warrants
Class of Warrant or Right [Line Items]
Warrants, exercise price (in dollars per share)	$ 402.50		$ 402.50
Project warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares)						26,068
Warrants, exercise price (in dollars per share)						$ 0.35
Class of warrant, fair value of warrants (in dollar per share)						$ 173.60
Vesting of warrants issued in connection with customer agreements	$ 100	$ 100	$ 200	$ 500
Project warrants | Warrant Vested
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares)	17,243		17,243
Collaboration warrants
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares)						104,275
Warrants, exercise price (in dollars per share)						$ 0.35
Class of warrant, fair value of warrants (in dollar per share)						$ 173.60
Prepaid warrants	$ 5,800		$ 5,800
Prepaid warrants, current	2,000		2,000
Collaboration Warrants, non-current	3,800		3,800
Other selling, general and administrative expense	$ 500	$ 600	$ 1,500	$ 1,300
Warrants and rights outstanding, term	2 years 10 months 24 days		2 years 10 months 24 days
Collaboration warrants | Warrant vesting, immediately
Class of Warrant or Right [Line Items]
Number of securities called by warrants (in shares)						52,138

Investments - Schedule of Inves

Investments - Schedule of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 28,275	$ 97,813
Unrealized Losses	(39)	(309)
Fair Value	28,236	97,504
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	3,997
Unrealized Losses	0	(22)
Fair Value	0	3,975
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	990	10,837
Unrealized Losses	(1)	(3)
Fair Value	989	10,834
U.S. treasury bills
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	27,285	82,979
Unrealized Losses	(38)	(284)
Fair Value	$ 27,247	$ 82,695

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Realized gains (losses)				$ (200,000)
Sales of available-for-sale securities			$ 0	65,817,000
Available-for-sale securities, credit losses recognized	$ 0	$ 0	0	$ 0
Available-for-sale securities, allowance for credit loss	$ 0		$ 0		$ 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, 2023	Dec. 31, 2022
Liabilities:
Warrant liabilities	$ 316	$ 642
Recurring | Level 1
Assets:
Investments	28,236	97,504
Recurring | Level 1 | Public warrants
Liabilities:
Warrant liabilities	307	625
Recurring | Level 2 | Private warrants
Liabilities:
Warrant liabilities	9	17
Recurring | Level 3
Liabilities:
Contingent consideration	$ 1,642	$ 353

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details)	Sep. 30, 2023 $ / shares
Public warrants
Class of Warrant or Right [Line Items]
Class of warrant, closing price of warrants	$ 0.04

Fair Value of Financial Instr_5

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	$ 1,590	$ 2,062	$ 353	$ 2,009
Change in fair value	52	(1,116)	1,289	(1,063)
Fair value, ending balance	$ 1,642	$ 946	$ 1,642	$ 946

Inventories - Schedule of Inven

Inventories - Schedule of Inventory, Current (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 2,908	$ 2,442
Finished goods	1,926	0
Work in process	149	0
Total inventories	$ 4,983	$ 2,442

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of classes of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 10,539	$ 9,648
Accumulated depreciation	(4,276)	(2,577)
Total property, plant and equipment, net	6,263	7,071
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 3,107	2,931
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	5 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	7 years
Computer equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 2,151	2,124
Computer equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	2 years
Computer equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	3 years
Machinery, vehicles and other equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 4,079	3,528
Machinery, vehicles and other equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	5 years
Machinery, vehicles and other equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	10 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 664	646
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	2 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	5 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 538	$ 419

Property, Plant and Equipment_2

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.5	$ 0.6	$ 1.6	$ 1.3

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss	$ 1,000,000	$ 1,008,000	$ 0
Amortization of intangible assets		$ 64,000	$ 600,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,004,000	$ 1,004,000
Currency translation adjustments		4,000
Impairment	$ (1,000,000)	(1,008,000)	$ 0
Goodwill, ending balance		$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amounts	$ 259	$ 4,058
Accumulated Amortization	(167)	(3,902)
Intangible Assets, Net	$ 92	156
Finite-lived intangible assets, foreign currency translation gain (loss)		400
Acquired developed technology rights
Finite-Lived Intangible Assets [Line Items]
Useful Life in Years	5 years
Gross Carrying Amounts	$ 0	3,799
Accumulated Amortization	0	(3,799)
Intangible Assets, Net	$ 0	0
Software licenses
Finite-Lived Intangible Assets [Line Items]
Useful Life in Years	3 years
Gross Carrying Amounts	$ 259	259
Accumulated Amortization	(167)	(103)
Intangible Assets, Net	$ 92	$ 156

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Payroll and other employee benefits	$ 1,758	$ 811
Professional fees	2,661	729
Research, development and project costs	2,499	1,313
Inventory in-transit	18	654
Operating lease liabilities, current portion	1,737	1,570
Other accrued expenses	767	525
Total accrued expenses and other current liabilities	$ 9,440	$ 5,602

Equity - Narrative (Details)

Equity - Narrative (Details) $ / shares in Units, $ in Millions			9 Months Ended
		Sep. 13, 2023 USD ($)	Sep. 30, 2023 $ / shares shares	Apr. 16, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Sep. 30, 2022 $ / shares
Class of Warrant or Right [Line Items]
Common stock, shares authorized (in shares)	[1]		500,000,000		500,000,000
Common stock, par value (in dollars per share) | $ / shares	[1]		$ 0.0001		$ 0.0001
Common stock, shares outstanding (in shares)	[1]		5,908,724		5,511,839
Common stock, shares issued (in shares)	[1]		5,908,724		5,511,839
Preferred stock, shares authorized (in shares)			10,000,000		10,000,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.0001		$ 0.0001
Preferred stock, shares issued (in shares)			0
Share purchase right plan, number of declared dividend in shares (in shares)				1
Share purchase right plan, beneficial ownership acquired, percentage				12.50%
Share purchase right plan, investors beneficial ownership acquired, percentage				20%
Warrants, exercise price (in dollars per share) | $ / shares			$ 0.35			$ 0.35
ATM Agreement
Class of Warrant or Right [Line Items]
Sale of stock, aggregate commission of gross proceed of shares sold, percentage		0.03
Sale of stock authorized offering amount | $		$ 40
Stock issued during period, shares, new issues (in shares)			0
Preferred Share Purchase Right
Class of Warrant or Right [Line Items]
Warrants, exercise price (in dollars per share) | $ / shares				$ 122.50
[1]Periods presented have been adjusted to reflect the 1-for-35 reverse stock split on August 31, 2023. See Note 1—Organization and Basis of Presentation—Reverse Stock Split, for additional information.

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		12 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Numerator:
Net loss		$ (18,570)	$ (27,829)	$ (50,797)	$ (107,014)	$ (142,000)
Denominator:
Weighted-average common shares outstanding (in shares)		5,865,954	5,443,501	5,698,405	5,360,895
Weighted-average impact of warrants (in shares)		69,869	58,682	66,951	37,977
Denominator for basic EPS – weighted-average shares (in shares)	[1]	5,935,823	5,502,183	5,765,356	5,398,872
Effect of dilutive securities (in shares)		0	0	0	0
Denominator for diluted EPS – weighted-average shares (in shares)	[1]	5,935,823	5,502,183	5,765,356	5,398,872
EPS – Basic (in dollars per share)	[1]	$ (3.13)	$ (5.06)	$ (8.81)	$ (19.82)
EPS – Diluted (in dollars per share)	[1]	(3.13)	(5.06)	(8.81)	(19.82)
Warrants, exercise price (in dollars per share)		$ 0.35	$ 0.35	$ 0.35	$ 0.35
[1]Periods presented have been adjusted to reflect the 1-for-35 reverse stock split on August 31, 2023. See Note 1—Organization and Basis of Presentation—Reverse Stock Split, for additional information.

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	239,424	942,853	239,424	942,853
Shares issuable under the employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	18,103	0	18,103	0
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	447,286	327,974	447,286	327,974
Restricted shares issued upon the early exercise of unvested stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	0	3,886	0	3,886
Warrants | Unvested warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	61,533	71,347	61,533	71,347
Warrants | Vested warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	244,762	244,762	244,762	244,762

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 305	$ 10,052	$ (6,078)	$ 34,612
Cost of services revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	197	330	442	1,321
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	199	7,641	(7,344)	28,830
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ (91)	$ 2,081	$ 824	$ 4,461

Share-based Compensation - Expe

Share-based Compensation - Expense by Type of Grant (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 305	$ 10,052	$ (6,078)	$ 34,612
Vendor Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	9	80	116	134
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	172	4,251	(11,883)	16,227
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	75	5,721	5,449	18,251
Shares issuable under the employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 49	$ 0	$ 240	$ 0

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Stock Option Activity (Details) - Stock options $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Number of Shares
Options outstanding, beginning balance (in shares) | shares	891,509
Options exercised (in shares) | shares	(254,139)
Options forfeited (in shares) | shares	(312,046)
Options expired (in shares) | shares	(85,900)
Options outstanding, ending balance (in shares) | shares	239,424	891,509
Options exercisable (in shares) | shares	165,947
Weighted Average Exercise Price ($)
Options outstanding, beginning balance (in dollars per share) | $ / shares	$ 107.85
Options exercised (in dollars per share) | $ / shares	4.57
Options forfeited (in dollars per share) | $ / shares	215.87
Options expired (in dollars per share) | $ / shares	291.31
Options outstanding, ending balance (in dollars per share) | $ / shares	12.65	$ 107.85
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 11.29
Weighted Average Remaining Contractual Life (Years)
Options outstanding, weighted average remaining contractual term	6 years 4 months 2 days	7 years 7 months 13 days
Options exercisable, weighted average remaining contractual term	5 years 11 months 1 day
Aggregate Intrinsic Value ($)
Options outstanding, aggregate intrinsic value | $	$ 31	$ 10,725
Options exercisable, aggregate intrinsic value | $	$ 31

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ in Millions		9 Months Ended
	Dec. 28, 2021	Sep. 30, 2023
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, reversal of previously recorded expense		$ 12.5
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount		$ 0.9
Unrecognized compensation cost, expected period for recognition		1 year 6 months
Stock options | Former Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options forfeited (in shares)		279,589
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, expected period for recognition		1 year 3 months 18 days
Forfeited (in shares)		98,573
Unrecognized compensation expense		$ 17.5
Shares issuable under the employee stock purchase plan | 2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award offering period	6 months
Share-based compensation arrangement by share-based payment award, discount from market price, purchase date	15%
Share-based compensation arrangement by share-based payment award, shares issued in period		19,284

Share-based Compensation - Sc_3

Share-based Compensation - Schedule of RSU Activity (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested, beginning balance (in shares)	1,733	[1]
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested, beginning balance (in shares)	327,141
Granted (in shares)	341,242
Vested (in shares)	(122,524)
Forfeited (in shares)	(98,573)
Unvested, ending balance (in shares)	447,286
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, beginning balance (in dollars per share) | $ / shares	$ 153.12
Granted (in dollars per share) | $ / shares	9.88
Vested (in dollars per share) | $ / shares	114.77
Forfeited (in dollars per share) | $ / shares	112.81
Unvested, ending balance (in dollars per share) | $ / shares	$ 61.87
[1]Periods presented have been adjusted to reflect the 1-for-35 reverse stock split on August 31, 2023. See Note 1—Organization and Basis of Presentation—Reverse Stock Split, for additional information.

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
(Provision) benefit for income taxes	$ (1)	$ 46	$ (3)	$ 781

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Total revenue	$ 2,273	$ 3,100	$ 5,604	$ 9,031
Idealab | Related Party
Related Party Transaction [Line Items]
Total revenue	45	35	114	82
Idealab | Related party transaction, administrative services | Related Party
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	54	$ 133	200	$ 400
NantG Power, LLC | Related Party
Related Party Transaction [Line Items]
Total revenue	$ 15		$ 15