Fair value measurements and investments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Financial Assets and Liabilities Recorded at Fair Value on Recurring Basis

The fair value measurements of the Company’s financial assets and liabilities measured on a recurring basis were as follows:

	June 30, 2024											December 31, 2023
(Unaudited, U.S. Dollars, in thousands)	Level 1		Level 2			Level 3			Total			Total
Assets
Neo Medical convertible loan agreement	$	—	$	—		$	—		$	—		$	6,760
Neo Medical preferred equity securities		—		10,942			—			10,942			4,951
Other investments		—		—			—			—			1,309
Total	$	—	$	10,942		$	—		$	10,942		$	13,020
Liabilities
Lattus contingent consideration	$	—	$	—		$	(12,740	)	$	(12,740	)	$	(8,500	)
Deferred compensation plan		—		(1,644	)		—			(1,644	)		(1,674	)
Total	$	—	$	(1,644	)	$	(12,740	)	$	(14,384	)	$	(10,174	)

Schedule of Reconciliation of Investments in Equity Securities

The table below presents a reconciliation of the beginning and ending balances of the Company’s investment in Neo Medical preferred equity securities:

(Unaudited, U.S. Dollars, in thousands)	2024			2023
Fair value of Neo Medical preferred equity securities at January 1	$	4,951		$	6,084
Conversion of loan into preferred equity securities		8,224			—
Foreign currency remeasurement recognized in other income (expense), net		—			—
Unrealized loss recognized in other expense, net		(2,233	)		—
Fair value of Neo Medical preferred equity securities at June 30	$	10,942		$	6,084
Cumulative unrealized gain (loss) on Neo Medical preferred equity securities	$	(2,953	)	$	413

Schedule of Reconciliation For Contingent Consideration Measured At Fair Value Using Significant Unobservable Inputs

The following table provides a reconciliation of the beginning and ending balances for the Lattus contingent consideration measured at estimated fair value using significant unobservable inputs (Level 3):

(Unaudited, U.S. Dollars, in thousands)	2024		2023
Lattus contingent consideration estimated fair value at January 1	$	8,500	$	—
Contingent consideration assumed in the Merger		—		11,200
Increase (decrease) in fair value recognized in acquisition-related amortization and remeasurement		4,240		(1,300	)
Lattus contingent consideration estimated fair value at June 30	$	12,740	$	9,900

Fair Value, Inputs, Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Reconciliation For Convertible Loans Measured At Fair Value Using Significant Unobservable Inputs

(Unaudited, U.S. Dollars, in thousands)	2024			2023
Fair value of Neo Medical Convertible Loan at January 1	$	6,760		$	7,140
Gains (losses) recorded for the period
Recognized in other comprehensive income		1,671			117
Interest recognized in interest income, net		162			238
Foreign currency remeasurement recognized in other income (expense), net		(602	)		195
Reversal of expected credit loss recognized in other income (expense), net		260			—
Conversion into preferred equity securities		(8,224	)		—
Realized foreign currency loss recognized in other income (expense), net		(27	)		—
Fair value of Neo Medical Convertible Loan at June 30	$	—		$	7,690
Contractual value of Neo Medical Convertible Loan at June 30	$	—		$	6,340
Allowance for credit loss recognized in other income (expense), net		—			—
Amortized cost basis of Neo Medical Convertible Loan at June 30	$	—		$	6,340

Schedule of Changes in Valuation of Securities

The following table provides quantitative information related to certain key assumptions utilized within the valuation as of June 30, 2024:

(Unaudited, U.S. Dollars, in thousands)	Fair Value as of  June 30, 2024		Unobservable inputs	Estimate
Lattus Contingent Consideration	$	12,740	Counterparty discount rates	13.7% - 14.3%
			Revenue risk-adjusted discount rates	7.5% - 8.2%