v3.26.1
BALANCE SHEET COMPONENTS (Tables)
 6 Months Ended
Jun. 30, 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)
June 30,
2026		December 31,
2025
Cash and cash equivalents$5,379 $18,318 
Restricted cash1
60 60 
Cash and cash equivalents and restricted cash$5,439 $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)
June 30,
2026		December 31,
2025
Cash and cash equivalents$5,379 $18,318 
Restricted cash1
60 60 
Cash and cash equivalents and restricted cash$5,439 $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 June 30, 2026, and December 31, 2025:
As of June 30, 2026
(in thousands)
Cash and
Cash
Equivalents
Short-Term
Investments

Investments (Non-Current)
Total
Level 1 securities:
Money market funds$21 $— $— $21 
Mutual funds— 1 1,614 1,615 
Total Level 1 securities$21 $1 $1,614 $1,636 
Level 2 securities:
Corporate debt securities— 1,495 3,920 5,415 
Total Level 2 securities— 1,495 3,920 5,415 
Total$21 $1,496 $5,534 $7,051 

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 June 30, 2026:
As of June 30, 2026
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Corporate debt securities5,416 — (1)5,415 
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 June 30, 2026:
As of June 30, 2026
(in thousands)Amortized CostEstimated Fair Value
Due in one year or less$1,496 $1,495 
Due after one year through five years3,920 3,920 
Total$5,416 $5,415 
Schedule of Allowance for Credit Losses
The following table summarizes the activity in the allowance for credit losses for the six months ended June 30, 2026, and 2025, which reflects management’s estimate of expected credit losses over the contractual life of the Company's accounts receivable.
Six Months Ended June 30,
(in thousand)20262025
Balance at the beginning of the period$7 $243 
Provisions for credit losses53 35 
Write-offs charged against the allowance— (75)
Recoveries of amounts previously written off(6)(96)
Balance at the end of the period$54 $107 
Schedule of Content Assets
Content assets consisted of the following as of June 30, 2026, and December 31, 2025:
(in thousands)
June 30,
2026		December 31,
2025
Licensed content, net:
Released, less amortization and impairment
$14,717 $9,307 
Prepaid and unreleased10,580 11,209 
Total Licensed content, net25,297 20,516 
Produced content, net:
Released, less amortization and impairment
7,205 10,292 
In production— 192 
Total produced content, net
7,205 10,484 
Total content assets
$32,502 $31,000 
Schedule of Amortized Licensed Content Costs and Produced Content Costs For the three and six months ended June 30, 2026, and 2025, content amortization was as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Licensed content$2,543 $1,855 $4,606 $3,549 
Produced content1,591 1,745 3,206 3,564 
Total$4,134 $3,600 $7,812 $7,113 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consisted of the following as of June 30, 2026, and December 31, 2025:
(in thousands)June 30,
2026		December 31,
2025
Accrued payroll and benefits$1,293 $4,964 
Accrued revenue share2,549 3,846 
Sales and income tax liabilities1,133 935 
Dividends payable685 408 
Operating lease liabilities444 428 
Accrued royalties51 452 
Other2,063 1,061 
Total$8,218 $12,094