v3.25.2
Note 3 - Fair Value Measurements
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
(3)

Fair Value Measurement

 

 

The fair value of financial instruments reflects the amounts that we estimate to receive in connection with the sale of an asset or paid in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). We follow a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels:

 

 

Level 1 – quoted prices in active markets for identical assets and liabilities.

 

 

Level 2 – observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

 

Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

 

 

The following table shows the fair value of our financial assets measured on a recurring basis and indicates the fair value hierarchy utilized to determine such fair value (in thousands):

 

   

As of June 30, 2025

  
                                 
   

Level 1

    

Level 2

    

Level 3

    

Total

  

Assets:

                                

Money market funds

   $ 2     $ —     $ —     $ 2  

Cash in savings account

     —       —       —       624  

Cash in checking account

     —       —       —       354  

Total cash and cash equivalents

   $ 2     $ —     $ —     $ 980  

 

   

As of December 31, 2024

  
   

Level 1

    

Level 2

    

Level 3

    

Total

  

Assets:

                                

Money market funds

   $ 2     $ —     $ —     $ 2  

Cash in savings account

     —       —       —       2,058  

Cash in checking account

     —       —       —       311  

Total cash and cash equivalents

   $ 2     $ —     $ —     $ 2,371