v3.26.1
Note 9 - Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured on a Recurring Basis

Our financial assets and liabilities measured at fair value on a recurring basis are as follows:

 

 

 

Fair value measurements as of June 30, 2026

 

 

 

Quoted

 

 

 

 

 

 

 

 

 

 

 

 

prices in

 

 

 

 

 

 

 

 

 

 

 

 

active

 

 

Significant

 

 

 

 

 

 

 

 

 

markets for

 

 

other

 

 

Significant

 

 

 

 

 

 

identical

 

 

observable

 

 

unobservable

 

 

 

 

 

 

assets

 

 

inputs

 

 

inputs

 

 

 

 

(In thousands)

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

157,414

 

 

$

 

 

$

 

 

$

157,414

 

Equity securities

 

 

8,050

 

 

 

 

 

 

 

 

 

8,050

 

Common stock options

 

 

 

 

 

3

 

 

 

 

 

 

3

 

Forward contracts

 

 

 

 

 

223

 

 

 

 

 

 

223

 

Total assets

 

$

165,464

 

 

$

226

 

 

$

 

 

$

165,690

 

 

 

 

Fair value measurements as of December 31, 2025

 

 

 

Quoted

 

 

 

 

 

 

 

 

 

 

 

 

prices in

 

 

 

 

 

 

 

 

 

 

 

 

active

 

 

Significant

 

 

 

 

 

 

 

 

 

markets for

 

 

other

 

 

Significant

 

 

 

 

 

 

identical

 

 

observable

 

 

unobservable

 

 

 

 

 

 

assets

 

 

inputs

 

 

inputs

 

 

 

 

(In thousands)

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

230,625

 

 

$

 

 

$

 

 

$

230,625

 

Equity securities

 

 

9,268

 

 

 

 

 

 

 

 

 

9,268

 

Common stock options/warrants

 

 

 

 

 

3

 

 

 

 

 

 

3

 

Total assets

 

$

239,893

 

 

$

3

 

 

$

 

 

$

239,896

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

 

 

 

 

230

 

 

 

 

 

 

230

 

Total liabilities

 

$

 

 

$

230

 

 

$

 

 

$

230

 

Summary of Carrying Value and Estimated Fair Value of Notes

The table below presents the carrying amount, estimated fair value, and applicable fair value hierarchy tiers for our 2029 Convertible Notes. The fair value for these notes is determined using directly observable inputs other than quoted prices in active markets.

 

 

 

June 30, 2026

 

 

 

Carrying

 

 

Total

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Value

 

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

2029 Convertible Notes

 

$

89,807

 

 

$

152,650

 

 

$

 

 

$

152,650

 

 

$