Fair Value Measurements |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Fair Value Measurements | |
| Fair Value Measurements | 4. Fair Value Measurements The Company complies with ASC 820, Fair Value Measurements, for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Items measured at fair value on a non-recurring basis The Company's non-financial assets, such as prepayments and other current assets, long-lived assets, including property and equipment, and intangible assets, are tested for impairment when indicators of impairment exist and are recorded at fair value only if an impairment charge is recognized. No impairment charges were recorded for the three and six months ended June 30, 2026 or 2025. The carrying value of the Company's marketable securities, accounts receivable, notes receivable, accounts payable, and accrued liabilities approximate their fair value due to their short-term nature. The carrying value of the Company's long-term debt and convertible debt approximates fair value, using Level 2 inputs, as they bear a market rate of interest. Restricted cash consists of cash balances that are legally or contractually restricted as to withdrawal or use. The carrying amount approximates fair value due to the short-term nature of the deposits. The Company's derivative liability, warrants held, contingent consideration, and investments are measured at fair value on a recurring basis using Level 3 inputs, given there is no market activity for these assets and liabilities. |