FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Financial Assets and Liabilities Subject to Fair Value Measurements

The Company’s financial assets and liabilities subject to fair value measurements were as follows:


	Fair Value Measurements as of March 31, 2026
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses)
Assets:
Money market funds (1)	$	81,847	$	81,847	$	—	$	—

Certificates of deposit (2)	162		—		162		—
PropTech convertible trading debt securities	1,229		—		—		1,229
Long-term investments

Long-term investment securities at fair value (3)	3,184		—		—		—
Total long-term investments	3,184		—		—		—
Total assets	$	86,422	$	81,847	$	162	$	1,229

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(1)Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets, except for $4,522 that is included in current restricted cash and cash equivalents and $2,483 that is included in non-current restricted assets within Other assets.

(2)$162 included in Other assets on the condensed consolidated balance sheets.

(3)In accordance with ASC Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.


	Fair Value Measurements as of December 31, 2025
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses)
Assets:
Money market funds (1)	$	108,372	$	108,372	$	—	$	—

Certificates of deposit (2)	162		—		162		—
Long-term investments
PropTech convertible trading debt securities	1,229		—		—		1,229
Long-term investment securities at fair value (3)	3,170		—		—		—
Total long-term investments	4,399		—		—		1,229
Total assets	$	112,933	$	108,372	$	162	$	1,229

Liabilities:
Fair value of the derivative embedded within convertible debt	—		—		—		—		(28,482)
Total liabilities	$	—	$	—	$	—	$	—	$	(28,482)

_____________________________

(1)Amounts included in Cash and cash equivalents on the consolidated balance sheets, except for $4,716 that is included in current restricted assets and $2,483 that is included in non-current restricted assets within Other assets.

(2)$162 included in Other assets on the consolidated balance sheets.

(3)In accordance with ASC Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Schedule of Unobservable Inputs Related to the Valuations of the Level 3 Liabilities

The unobservable inputs related to the valuation of the Level 3 assets were as follows as of March 31, 2026:

Quantitative Information about Level 3 Fair Value Measurements

Fair Value at

March 31,
2026

Valuation Technique

Unobservable
Input

Range
(Actual)

PropTech convertible trading debt securities

1,229

Discounted cash flow

Interest rate

Maturity

Feb 2027

Volatility

54.10%

Discount rate

31.97%

The unobservable inputs related to the valuation of the Level 3 assets were as follows as of December 31, 2025: