XML 46 R33.htm IDEA: XBRL DOCUMENT

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Fair Value, by Balance Sheet Grouping

The following tables summarize financial assets and liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated balance sheets as of December 31, 2025 and

December 31, 2024, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	December 31, 2025
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)		Significant Unobservable Inputs (Level 3 Inputs)		Total
Assets:
Money market funds	$	234,901	$	—	$	—	$	234,901
U.S. treasury securities	—		4,996		—		4,996
Convertible debt securities (See Note 7)	$	—	$	—	$	3,860	3,860
Total assets	$	234,901	$	4,996	$	3,860	$	243,757


	December 31, 2024
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)		Significant Unobservable Inputs (Level 3 Inputs)		Total
Assets:
Money market funds	$	6,376	$	—	$	—	$	6,376
U.S. treasury securities	—		186,693		—		186,693
Commercial paper	—		14,918		—		14,918
Convertible debt securities (See Note 7)	—		—		3,593		3,593
Investment loan receivables (See Note 7)	—		—		7,676		7,676
Total assets	$	6,376	$	201,611	$	11,269	$	219,256

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

A rollforward of the fair value measurements of the convertible debt securities for the years ended December 31, 2024 and 2025 is as follows:


Balance as of December 31, 2023	$	—
Investment in convertible debt security	3,000
Change in fair value included in other income, net	593
Balance as of December 31, 2024	3,593
Change in fair value included in other income, net	267
Balance as of December 31, 2025	$	3,860

A rollforward of the fair value measurements of the investment loan receivable for the year ended December 31, 2025 is as follows:


Balance as of December 31, 2024	$	7,676
Change in fair value included in other income, net	762
Repayment of investment loan receivables	(8,438)
Balance as of December 31, 2025	$	—

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details