Note 2 - Ownership Interests and Advances

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

2. Ownership Interests and Advances

The following summarizes the carrying value of the Company’s ownership interests and advances. 

	September 30, 2023		December 31, 2022
	(Unaudited - In thousands)
Equity Method:
Companies	$	10,583	$	8,749
Private equity funds		97		97
		10,680		8,846
Other Method:
Companies, fair value		-		860
Companies, fair value measurement alternative		2,555		1,067
Private equity funds, fair value measurement alternative		250		250
		2,805		2,177
Advances to companies		1,354		4,382
	$	14,839	$	15,405

The Company recorded a $0.2 million impairment during the nine months ended September 30, 2023 related to an Other ownership interest.  There were no impairments recorded during the nine months ended September 30, 2022. 

As of  September 30, 2023, the Company held ownership interests accounted for using the equity method in 5 non-consolidated companies.  Certain of the Company's ownership interests as of September 30, 2023 included the following:

Company Name	Safeguard Primary Ownership as of September 30, 2023	Accounting Method
Clutch Holdings, Inc.	41.7%	Equity
InfoBionic, Inc.	5.5%	Other
meQuilibrium	30.2%	Equity
Moxe Health Corporation	19.3%	Equity
Prognos Health Inc.	19.4%	Equity
Syapse, Inc.	11.0%	Equity

SAFEGUARD SCIENTIFICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Summarized Financial Information

The following table summarizes the statement of operations data for the companies accounted for under the equity method for the three and nine months ended September 30, 2023 and 2022, respectively. These results have been compiled from the respective companies' financial statements, reflect certain historical adjustments, and are reported on a one quarter lag basis. Results of operations of the companies are excluded for periods prior to their acquisition, subsequent to their disposition and subsequent to the discontinuation of the equity method of accounting. Historical results are not adjusted when the Company exits, writes-off or discontinues the equity method of accounting. 

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
	(Unaudited - In thousands)
Results of Operations:
Revenue	$	18,713		$	34,170		$	89,110		$	109,460
Gross profit	$	13,525		$	19,741		$	62,130		$	67,314
Net loss	$	(14,643	)	$	(41,071	)	$	(63,971	)	$	(106,258	)