Equity Securities

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Equity Securities

Securities

On June 4, 2024, the Company sold patents, patent applications, and select technology rights and assets for $3.6 million, consisting of $1.5 million in cash and $2.1 million in common shares of a publicly traded Canadian gold mining company (“Payment Shares”). During the years ended December 31, 2024 and December 31, 2023, the Company recorded an unrealized loss on Equity securities, included in Other loss, net, of $1.6 million and nil, respectively.

The following table provides the components of Equity securities (in thousands):

	December 31, 2024		December 31, 2023
Equity securities, current	$	454	$	—
Equity securities, non-current(1)	151		—
Total(2)	$	605	$	—

(1)Equity securities, non-current are classified as such because they are restricted from sale within the next 12 months. For one year from closing date of June 4, 2024, the Company will not sell, transfer, assign, or dispose of the Payment Shares without mutual written agreement from both parties. Starting one year after closing, the Company may sell up to 25% of the Payment Shares every three months, subject to certain conditions.

(2)The value of Equity securities was determined using the closing price on the last day of the period as quoted on the TSX Venture Exchange. See Note 21 – Fair Value Measurements for additional information.