v3.26.1
BALANCE SHEET COMPONENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Balance Sheet Related Disclosures [Abstract]  
Schedule of Cash and Cash Equivalents
A reconciliation of the Company’s cash and cash equivalents in the Unaudited Condensed Consolidated Balance Sheets to cash, cash equivalents and restricted cash in the Unaudited Condensed Consolidated Statements of Cash Flows is as follows:
 (in thousands)
March 31,
2026		December 31,
2025
Cash and cash equivalents$16,900 $18,318 
Restricted cash1
60 60 
Cash and cash equivalents and restricted cash$16,960 $18,378 
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 Unaudited Condensed Consolidated Balance Sheets to cash, cash equivalents and restricted cash in the Unaudited Condensed Consolidated Statements of Cash Flows is as follows:
 (in thousands)
March 31,
2026		December 31,
2025
Cash and cash equivalents$16,900 $18,318 
Restricted cash1
60 60 
Cash and cash equivalents and restricted cash$16,960 $18,378 
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 March 31, 2026, and December 31, 2025:
As of March 31, 2026
(in thousands)
Cash and
Cash
Equivalents
Short-Term
Investments

Investments (Non-Current)
Total
Level 1 securities:
Money market funds$11,356 $— $— $11,356 
Mutual funds— 1 162 163 
Total Level 1 securities$11,356 $1 $162 $11,519 
Level 2 securities:
Corporate debt securities498 3,492 2,959 6,949 
Total Level 2 securities498 3,492 2,959 6,949 
Total$11,854 $3,493 $3,121 $18,468 
 As of December 31, 2025
 (in thousands)
Cash and
Cash
Equivalents
Short-Term
Investments

Investments (Non-Current)
Total
Level 1 securities:
Money market funds$10,842 $— $— $10,842 
Mutual funds— — 76 76 
U.S. government securities250 — — 250 
Total Level 1 securities$11,092 $— $76 $11,168 
Level 2 securities:
Corporate debt securities4,234 8,964 — 13,198 
Total Level 2 securities4,234 8,964 — 13,198 
Total$15,326 $8,964 $76 $24,366 
Schedule of Debt Securities
The following table provides the amortized cost and estimated fair value of investments with fixed maturities as of March 31, 2026:
As of March 31, 2026
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Corporate debt securities6,950 — (1)6,949 
Schedule of Debt Securities by Contractual Maturity
The following table provides the amortized cost and estimated fair value of investments with fixed maturities by maturity date as of March 31, 2026:
As of March 31, 2026
(in thousands)Amortized CostEstimated Fair Value
Due in one year or less$3,991 $3,990 
Due after one year through five years2,959 2,959 
Total$6,950 $6,949 
Schedule of Content Assets
Content assets consisted of the following as of March 31, 2026, and December 31, 2025:
(in thousands)
March 31,
2026		December 31,
2025
Licensed content, net:
Released, less amortization and impairment
$9,390 $9,307 
Prepaid and unreleased13,009 11,209 
Total Licensed content, net22,399 20,516 
Produced content, net:
Released, less amortization and impairment
8,720 10,292 
In production192 192 
Total produced content, net
8,912 10,484 
Total content assets
$31,311 $31,000 
Schedule of Amortized Licensed Content Costs and Produced Content Costs For the three months ended March 31, 2026, and 2025, content amortization was as follows:
Three Months Ended
March 31,
(in thousands)20262025
Licensed content$2,063 $1,694 
Produced content1,615 1,819 
Total$3,678 $3,513 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consisted of the following as of March 31, 2026, and December 31, 2025:
(in thousands)March 31,
2026		December 31,
2025
Accrued payroll and benefits$6,548 $4,964 
Accrued revenue share4,043 3,846 
Sales and income tax liabilities885 935 
Dividends payable493 408 
Operating lease liabilities436 428 
Accrued royalties62 452 
Other988 1,061 
Total$13,455 $12,094