XML 40 R28.htm IDEA: XBRL DOCUMENT v3.25.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (AS RESTATED)
Factors used in determining the fair value of our financial assets and liabilities are summarized into three broad categories:
•Level 1 - quoted prices in active markets for identical securities;
•Level 2 - other significant observable inputs, including quoted prices for similar securities, interest rates, prepayment spreads, credit risk; and
•Level 3 - significant unobservable inputs, including our own assumptions in determining fair value.

There were no changes to our valuation techniques during the year ended December 31, 2024.


Impairment Considerations
Approaches used by management to measure the fair value of goodwill, indefinite-lived intangible assets, long-lived assets and definite-lived intangible assets for impairment evaluations are considered Level 3 fair value measurements. See Note 9 - Goodwill and Intangible Assets for discussion of goodwill impairment charges in the year ended December 31, 2023 and definite-lived intangible assets impairment charges in the year ended December 31, 2024. In determining impairment charges for assets held for sale, the fair value used by management was based on the estimated sales proceeds less cost to sell, which is considered a Level 2 fair value measurement. See Note 10 - Assets Held for Sale for discussion of assets held for sale impairment charges in the year ended December 31, 2024.

Warrants
Our warrants were recorded at fair value at the end of each reporting period and transaction date with changes in fair value recorded in our statements of operations and comprehensive loss.
Level 3 Disclosures
Changes in the level 3 warrant liability were as follows:
(In thousands)
Balance at December 31, 2023$— 
Initial measurement4,907 
Measurement adjustment802 
Balance at December 31, 2024$5,709