v3.25.2
BALANCE SHEET COMPONENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Balance Sheet Related Disclosures [Abstract]  
Schedule of Cash and Cash Equivalents
A reconciliation of the Company’s cash and cash equivalents in the consolidated balance sheets to cash, cash equivalents and restricted cash in the consolidated statements of cash flows is as follows:
 (in thousands)
June 30,
2025		December 31,
2024
Cash and cash equivalents$6,943 $7,826 
Restricted cash1
60 125 
Cash and cash equivalents and restricted cash$7,003 $7,951 
1 Restricted cash included cash deposits required by a bank as collateral related to corporate credit card agreements.
Restrictions on Cash and Cash Equivalents
A reconciliation of the Company’s cash and cash equivalents in the consolidated balance sheets to cash, cash equivalents and restricted cash in the consolidated statements of cash flows is as follows:
 (in thousands)
June 30,
2025		December 31,
2024
Cash and cash equivalents$6,943 $7,826 
Restricted cash1
60 125 
Cash and cash equivalents and restricted cash$7,003 $7,951 
1 Restricted cash included cash deposits required by a bank as collateral related to corporate credit card agreements.
Schedule of Fair Values of Securities Investments
The Company’s investments in debt securities at fair value based on unadjusted quoted market prices (Level 1) and quoted prices for comparable assets (Level 2) were as follows as of June 30, 2025, and December 31, 2024:
 As of June 30, 2025
 (in thousands)
Cash and
Cash
Equivalents
Short-Term
Investments

Investments (Non-Current)
Total
Level 1 securities:
Money market funds$3,082 $— $— $3,082 
Certificate of deposit— 2,000 — 2,000 
U.S. government securities— 1,000 — 1,000 
Total Level 1 securities$3,082 $3,000 $— $6,082 
Level 2 securities:
Corporate and municipal debt securities— 18,187 2,482 20,669 
Total Level 2 securities— 18,187 2,482 20,669 
Total$3,082 $21,187 $2,482 $26,751 

 As of December 31, 2024
 (in thousands)
Cash and
Cash
Equivalents
Short-Term
Investments

Investments (Non-Current)
Total
Level 1 securities:
Money market funds$3,512 $— $— $3,512 
Certificate of deposit— 9,000 — 9,000 
U.S. government securities— 1,495 — 1,495 
Total Level 1 securities$3,512 $10,495 $— $14,007 
Level 2 securities:
Corporate and municipal debt securities649 13,736 7,459 21,844 
Total Level 2 securities649 13,736 7,459 21,844 
Total$4,161 $24,231 $7,459 $35,851 
Schedule of Debt Securities
The following table provides the amortized cost and estimated fair value of investments with fixed maturities as of June 30, 2025:
As of June 30, 2025
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Fixed maturities:
Certificate of deposit$2,000 $— $— $2,000 
Corporate and municipal debt securities20,674 2 (7)20,669 
U.S. government securities1,000 — — 1,000 
Total$23,674 $2 $(7)$23,669 
Schedule of Debt Securities by Contractual Maturity
The following table provides the amortized cost and estimated fair value of investments with fixed maturities as of June 30, 2025:
As of June 30, 2025
(in thousands)Amortized CostEstimated Fair Value
Due in one year or less$21,190 $21,187 
Due after one year through five years2,484 2,482 
Total$23,674 $23,669 
Schedule of Content Assets
Content assets consisted of the following as of June 30, 2025, and December 31, 2024:
(in thousands)
June 30,
2025		December 31,
2024
Licensed content, net:
Released, less amortization and impairment
$9,054 $10,190 
Prepaid and unreleased4,701 3,139 
Total Licensed content, net13,755 13,329 
Produced content, net:
Released, less amortization and impairment
14,481 17,717 
In production341 465 
Total produced content, net
14,822 18,182 
Total content assets
$28,577 $31,511 
Schedule of Amortized Licensed Content Costs and Produced Content Costs For the three and six months ended June 30, 2025, and 2024, content amortization was as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2025202420252024
Licensed content$1,855 $1,983 $3,549 $3,682 
Produced content1,745 2,702 3,564 6,219 
Total$3,600 $4,685 $7,113 $9,901 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consisted of the following as of June 30, 2025, and December 31, 2024:
(in thousands)June 30,
2025		December 31,
2024
Accrued payroll and benefits$1,212 $2,540 
Dividends payable— 1,415 
Sales and income tax liabilities912 946 
Operating lease liabilities412 396 
Accrued royalties437 53 
Accrued revenue share5,896 956 
Other622 697 
Total$9,491 $7,003 
Schedule of Private Placement Warrants As of June 30, 2025, and December 31, 2024, the fair value of the Private Placement Warrants, as determined using Level 3 inputs, was as follows:
(in thousands)
June 30,
2025		December 31,
2024
Private Placement Warrants$174 $88