v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments, by Fair Value Hierarchy
The carrying value and fair value, by fair value hierarchy, of the Company’s financial instruments at June 30, 2026, and December 31, 2025 are as follows (in thousands):
Fair Value Measurements at June 30, 2026
RecurringFair Value at
June 30,
2026
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents (1)
$48,621 $48,621 $— $— 
Commodities derivative instruments2,781 — 2,781 — 
Total$51,402 $48,621 2,781 $— 
Fair Value Measurements at December 31, 2025
RecurringFair Value at
December 31,
2025
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents (1)
$59,904 $59,904 $— $— 
Commodities derivative instruments91 — 91 — 
Total$59,995 $59,904 $91 $— 
_______________________________________________________________
(1)Cash and cash equivalents includes $48.6 million and $59.9 million invested in U.S. government money market funds as of June 30, 2026 and December 31, 2025, respectively.
Schedule of accounts notes loans receivable The carrying value and the fair value of the notes receivable as of June 30, 2026 are as follows (in thousands):
Carrying
Value
Estimated
Fair Value
Note receivable - A.E, Innovation, LLC$3,722 $3,722 
Note receivable - Future Energy Capital Limited250 250 
Total notes receivable$3,972 $3,972 
Schedule Of Fair Value of the Redeemable Non-Controlling Interest
The following table reflects the changes in the fair value of the redeemable non-controlling interest as of June 30, 2026 (in thousands):
Redeemable Non-
Controlling Interest
Fair value as of December 31, 2025$4,832 
Increase in equity of non-controlling member2,009 
Income attributable to non-controlling member1,026 
Fair value adjustment(769)
Fair value as of June 30, 2026$7,098