Other Assets, Net |
9 Months Ended | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||
| Other Assets, Net | Other Assets, Net Other assets, net consists of the following as of the period presented:
Equity Investments Held at Cost The Company may strategically invest in noncontrolling equity interests of privately-held companies. During the three months ended September 30, 2026, the Company made a strategic investment of $7,000 in preferred stock of Trace Biosciences Inc. (“Trace”), a privately held biotechnology company, representing ownership of approximately 18.9%. The investment does not have a readily determinable fair value and is accounted for under the measurement alternative under ASC 321, Investments — Equity Securities. Under the measurement alternative, the investment is measured at cost, less impairment, if any, and adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. As of September 30, 2026, the carrying value of the Company’s investment in Trace was $7,008, including capitalized transaction costs, and was included within Other assets, net on the Condensed Consolidated Balance Sheet. No adjustments for observable price changes or impairment were recognized during the three months ended September 30, 2026.
|
||||||||||||||||||||||||||||||||||||