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FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value for Financial Assets and Liabilities
The following table presents the Company’s fair value hierarchy for financial liabilities as of June 30, 2024 (in thousands):

Level 1Level 2Level 3Total
Liabilities:
Earnout liability$— $— $13,103 $13,103 
Total$— $— $13,103 $13,103 
The following table presents the Company’s fair value hierarchy for financial liabilities as of December 31, 2023 (in thousands):

Level 1Level 2Level 3Total
Liabilities:
Earnout liability$— $— $46,852 $46,852 
Total$— $— $46,852 $46,852 
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table provides a reconciliation between the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3) (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs
Balance at December 31, 2023$46,852 
Fair value adjustment(33,749)
Balance at June 30, 2024$13,103