v3.26.1
Derivative Instruments
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
7.    DERIVATIVE INSTRUMENTS
The following table summarizes the location and gross fair values of individual derivative instruments and the impact of legal rights of offset as reported in the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Gross
Amounts of
Recognized
Assets /
Liabilities		Gross
Amounts
Offset in the
Consolidated
Balance Sheet		Net Amounts
of Assets/
Liabilities
Presented
in the Consolidated
Balance Sheet		Gross Amount
of Collateral
Received /
Pledged not
Offset in the
Consolidated
Balance 
Sheet		Net
Amount		Gross
Amounts of
Recognized
Assets /
Liabilities		Gross
Amounts
Offset in the
Consolidated
Balance Sheet		Net Amounts
of Assets/
Liabilities
Presented
in the Consolidated
Balance Sheet		Gross Amount
of Collateral
Received /
Pledged not
Offset in the
Consolidated
Balance 
Sheet		Net
Amount
Other assets:
FX forwards3 3 — — — — — — — — 
Total derivative assets$3 $3 $— $— $— $— $— $— $— $— 
Other liabilities:
FX forwards429 3 426 — 426 8 — 8 — 8 
Total derivative liabilities$429 $3 $426 $— $426 $8 $— $8 $— $8 
The following table summarizes the location and amount of gains and losses of derivative contracts in the Consolidated Statements of Income (Loss) for the three months ended March 31, 2026 and 2025:
Location of Gain (Loss)
Recognized in
Consolidated Statements of Income (Loss)		Amount of Gain (Loss) Recognized in Consolidated Statements of Income (Loss)
Three Months Ended March 31,
20262025
Derivatives:
FX forwardsRevenues, other$(519)$427 
Total derivatives$(519)$427 
Octave Ventures utilizes FX forward contracts to partially hedge its foreign currency exposure. Octave Ventures' functional currency is the British Pound, but a significant portion of its revenues are generated in currencies other than the British Pound, particularly the US Dollar. Octave Ventures, therefore, typically enters into forward contracts to partially hedge its exposure to fluctuations in exchange rates relative to the British Pound.
Octave also holds warrants to purchase equity shares of a development stage company.

Information about FX forward contracts as of March 31, 2026 and December 31, 2025, is summarized below:
Derivative TypeWeighted-Average
Remaining
Term
(years)		Face
Amount
(Buy)		Face
Amount
(Sell)		Fair Value
Asset
(Liability)
March 31, 2026
FX Forwards-Buy GBP/Sell USD1.2332,134 42,700 (429)
FX Forwards-Buy GBP/Sell CAD0.561,149 2,400 3 
December 31, 2025
FX Forwards-Buy GBP/Sell USD1.3917,876 24,000 (6)
FX Forwards-Buy GBP/Sell CAD0.731,5302,800(2)