Note 10 - Fair Value |
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| Fair Value Disclosures [Text Block] |
NOTE 10: FAIR VALUE
The Company utilizes fair value measurements to record fair value adjustments to certain financial assets and to determine fair value disclosures.
Fair Value Measurements and Disclosure (Topic 820) of the FASB establishes a fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories:
The primary objective of the Company’s investment activities is to preserve principal while maximizing yields without significantly increasing risk. The investment instruments held by the Company are money market funds and interest-bearing deposits for which quoted market prices are readily available. The Company considers these highly liquid investments to be cash equivalents. These investments are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company does have any material financial liabilities that were required to be measured at fair value on a recurring basis at March 31, 2026.
As of March 31, 2026 and December 31, 2025, the carrying amount of the financial instruments such as cash and cash equivalents (excluding money market funds disclosed in the table below), restricted cash, long-term restricted cash and accounts payable approximate their fair value due to short-term nature and the market rates of interest of these instruments. As such, these instruments are classified as Level 1.
The tables below present the recorded amount of financial assets measured at fair value (in thousands) on a recurring basis as of March 31, 2026 and December 31, 2025.
The following table below present the carrying amount and estimated fair value of financial instruments as of March 31, 2026 and December 31, 2025, (in thousands) that are not measured at fair value:
The fair value was estimated using a net present value measurement, which is based on unobservable inputs, and as such, is classified as Level 3.
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