v3.26.1
Note 11 - Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

11. FAIR VALUE MEASUREMENTS

 

The Company's cash equivalents are classified within Level 1 of the fair value hierarchy because their fair values are derived from quoted market prices. Other current assets are classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity. The Company’s financial assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy were as follows (in thousands):

 

       

June 30, 2026

    

December 31, 2025

  
               

Fair Value Measurements at Reporting Date Using

            

Fair Value Measurements at Reporting Date Using

  
   

Balance Sheet

          

Quoted Prices in Active Markets for Identical Assets

    

Significant Other Observable Inputs

    

Significant Unobservable Inputs

            

Quoted Prices in Active Markets for Identical Assets

    

Significant Other Observable Inputs

    

Significant Unobservable Inputs

  

Assets

  

Classification

  

Total

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

    

(Level 1)

    

(Level 2)

    

(Level 3)

  

Money market mutual funds

  

Cash equivalents

   $ 98,116     $ 98,116     $ —     $ —     $ 14,535     $ 14,535     $ —     $ —  

Available-for-sale debt securities:

                                                                    

Convertible note receivable (1)

  

Other current assets

     2,187       —       —       2,187       2,138       —       —       2,138  

Total

   $ 100,303     $ 98,116     $ —     $ 2,187     $ 16,673     $ 14,535     $ —     $ 2,138  
 

(1)

In August 2024, the Company purchased a $2.0 million non-marketable convertible promissory note from an unrelated third party (the “convertible note”). The convertible note bears a 5% interest rate annually and will mature in August 2026.