| Schedule of Assets and Liabilities Measured at Fair Value |
The following tables summarize the Company's assets and liabilities measured at fair value on a recurring basis using the following levels of inputs (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at June 30, 2026 | | Total | | Level 1 | | Level 2 | | Level 3 | | Assets: | | | | | | | | | Cash equivalents—Money market funds | $ | 23,135 | | | $ | 23,135 | | | $ | — | | | $ | — | | | Equity securities, at fair value | 17,075 | | | — | | | — | | | 17,075 | | | Available-for-sale debt securities (1) | 26,033 | | | — | | | — | | | 26,033 | | | | | | | | | | | | | | | | | | | Total assets | $ | 66,243 | | | $ | 23,135 | | | $ | — | | | $ | 43,108 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2025 | | Total | | Level 1 | | Level 2 | | Level 3 | | Assets: | | | | | | | | | Cash equivalents—Money market funds | $ | 22,717 | | | $ | 22,717 | | | $ | — | | | $ | — | | | Equity securities, at fair value | 26,903 | | | 9,828 | | | — | | | 17,075 | | | Available-for-sale debt securities (1) | 18,417 | | | — | | | — | | | 18,417 | | | Debt securities, at fair value (1) | 23,977 | | | — | | | 23,977 | | | — | | | | | | | | | | | Total assets | $ | 92,014 | | | $ | 32,545 | | | $ | 23,977 | | | $ | 35,492 | | | Liabilities: | | | | | | | | | Loan commitments, at fair value (2) | $ | 2,766 | | | $ | — | | | $ | — | | | $ | 2,766 | | | | | | | | | | | Total liabilities | $ | 2,766 | | | $ | — | | | $ | — | | | $ | 2,766 | |
___________________________________________(1) Included in Other long-term assets, net in the consolidated balance sheets. (2) Included in Other long-term liabilities in the consolidated balance sheets.
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| Schedule of Level 3 Investment Activity |
The following table provides activity for the Company's Level 3 investments (in thousands): | | | | | | | Amount | Level 3 investments at December 31, 2024 | $ | 47,439 | | | Increase due to purchases of Level 3 investments | 16,266 | | | Transfers out of Level 3 investments | (20,046) | | | Decrease in fair value of Level 3 investments | (8,711) | | | Accrued interest on Level 3 investments | 544 | | Level 3 investments at December 31, 2025 | 35,492 | | | Increase due to purchases of Level 3 investments | 7,168 | | | | | | Accrued interest, net on Level 3 investments | 448 | | Level 3 investments at June 30, 2026 | $ | 43,108 | |
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| Schedule of Level 3 Liability Activity |
The following table provides activity for the Company's Level 3 liabilities (in thousands): | | | | | | | Amount | Level 3 liabilities at December 31, 2024 | $ | — | | | Fair value of Level 3 liabilities assumed | 2,766 | | Level 3 liabilities at December 31, 2025 | 2,766 | | | Derecognition of Level 3 liabilities assumed | (2,766) | | Level 3 liabilities at June 30, 2026 | $ | — | |
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