v3.26.3
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2026
Fair Value Measurements  
Schedule of assets and liabilities that are measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements at September 30, 2026 Using:

​

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Assets:

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Cash equivalents - Money market funds

​

$

10,147

​

$

—

​

$

—

​

$

10,147

Marketable securities - U.S. Treasury securities due in 3 to 12 months

​

​

—

​

​

30,531

​

​

—

​

​

30,531

Marketable securities - agency bond due in 3 to 12 months

​

​

—

​

​

4,980

​

​

—

​

​

4,980

Total assets measured at fair value

 

$

10,147

 

$

35,511

 

$

—

 

$

45,658

Other current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Holdback shares - NIRLAB acquisition

​

$

369

​

$

—

​

$

—

​

$

369

​

​

$

369

 

$

—

 

$

—

 

$

369

Other long-term liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Acquisition-related contingent consideration

​

$

—

​

$

—

​

$

8,189

​

$

8,189

Total liabilities measured at fair value

​

$

369

​

$

—

​

$

8,189

​

$

8,558

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements at December 31, 2025 Using:

​

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Assets:

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Cash equivalents - Money market funds

​

$

30,040

​

$

—

​

$

—

​

$

30,040

Marketable securities - U.S. Treasury securities due in 3 to 12 months

​

​

—

​

​

42,453

​

​

—

​

​

42,453

Total assets measured at fair value

 

$

30,040

 

$

42,453

 

$

—

 

$

72,493

Other current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Acquisition-related contingent consideration

​

$

—

​

$

—

​

$

16,025

​

$

16,025

Total liabilities measured at fair value

​

$

—

​

$

—

​

$

16,025

​

$

16,025

Schedule of change in fair value of liabilities

The following table provides a roll-forward of the fair value of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs (in thousands):

​

​

​

​

Balance as of December 31, 2025

​

$

16,025

Contingent consideration - NIRLAB acquisition

​

​

4,969

Increase in fair value of contingent consideration earnouts - NIRLAB

​

​

3,220

Increase in fair value of contingent consideration earnouts - RedWave

​

​

9,298

Settlement of contingent consideration through issuance of common stock

​

​

(25,323)

Balance as of September 30, 2026

​

$

8,189