v3.25.2
Fair Value Measurements
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

4. Fair Value Measurements

Fair value of assets and liabilities

Cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities payable within one year are carried at cost, which approximates fair value due to their short-term nature. The only financial instruments measured at fair value are short-term investments and the Notes (as defined below). The fair value of these financial assets and liabilities was determined based on three levels of input as follows:

•
Level 1. Quoted prices in active markets for identical assets and liabilities;
•
Level 2. Observable inputs other than quoted prices in active markets; and
•
Level 3. Unobservable inputs.

Informa TechTarget does not have financial instruments that were measured at fair value as of March 31, 2025. The following table presents the financial instruments that were measured at fair value as of December 31, 2024:

 



 

 

As of December 31, 2024

 





 

 

Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

 

Total Fair Value Measurements

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Pooled bond funds

 

$

—

 

 

$

77,705

 

 

$

—

 

 

$

77,705

 

Total short-term investments

 

$

—

 

 

$

77,705

 

 

$

—

 

 

$

77,705

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

2025 Notes

 

$

—

 

 

$

3,030

 

 

$

—

 

 

$

3,030

 

2026 Notes

 

 

—

 

 

 

412,660

 

 

 

—

 

 

 

412,660

 

Total Notes

 

$

—

 

 

$

415,690

 

 

$

—

 

 

$

415,690

 

 

All level 2 investments are priced using observable inputs, such as quoted prices in markets that are not active and yield curves.

The fair value of the Notes was determined based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, quoted price of the Notes in an over-the-counter market (Level 2).

The convertible senior notes due December 15, 2025 (the “2025 Notes”) and the convertible senior notes due December 15, 2026 (the “2026 Notes” and, together with the 2025 Notes, the “Notes”) were governed by indentures originally between Former TechTarget, as issuer, and U.S. Bank, National Association, as trustee (together, the “Indentures”). Informa TechTarget assumed all of Former TechTarget's rights and obligations under the Indentures in connection with the Merger. The Notes are unsecured and rank senior in right of payment to Informa TechTarget’s future indebtedness that is expressly subordinated in right of payment to the Notes and equal in right of payment to Informa TechTarget’s unsecured indebtedness that is not so subordinated.