v3.26.3
Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2026
Accounting Policies [Abstract]  
Marketable Securities, Policy [Policy Text Block]

Investments in Debt Securities

 

The Company will invest excess funds to maximize investment yield, while maintaining liquidity and minimizing credit risk. Debt securities are carried at fair value and consist primarily of investments in obligations of the United States Treasury, various U.S. and foreign corporations, and certificates of deposits. The Company classifies its investments in debt securities as available-for-sale with all unrealized gains or losses included as part of other comprehensive income. The Company evaluates its available-for-sale debt securities in an unrealized loss position at each reporting date to determine whether a credit loss exists. If the Company intends to sell a security, or it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the security’s amortized cost basis is written down to fair value through earnings. Otherwise, any credit-related impairment is recognized through an allowance for credit losses, limited to the amount by which the amortized cost basis exceeds fair value, with any remaining unrealized loss recognized in other comprehensive income. Based on this assessment, the Company did not recognize an allowance for credit losses on its available-for-sale debt securities for the nine months ended September 30, 2026 and 2025. 

 
Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurements

 

The estimated fair values of financial instruments reported in the consolidated financial statements have been determined using available market information and valuation methodologies, as applicable. The fair value of cash approximate their carrying value due to their short maturities and are classified as Level 1 instruments within the fair value hierarchy.

 

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Entities are required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value based upon the following fair value hierarchy:

 

Level 1 —

Quoted prices in active markets for identical assets or liabilities;

 

Level 2 —

Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

 

Level 3 —

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

 

As of  September 30, 2026, the following table represents the Company’s fair value hierarchy for items that are required to be measured at fair value on a recurring basis:

 

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 
                 

Investments in debt securities (short-term)

 $5,457  $4,786  $671  $- 

Investments in debt securities (long-term)

 $3,929  $2,656  $1,273  $- 

 

As of  December 31, 2025, the following table represents the Company’s fair value hierarchy for items that are required to be measured at fair value on a recurring basis:

 

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 
                 

Investments in debt securities (short-term)

 $4,917  $4,817  $100  $- 

Investments in debt securities (long-term)

 $7,606  $5,481  $2,125  $- 

 
Lessee, Leases [Policy Text Block]

Operating Leases

 

The Company adopted FASB Accounting Standards Codification, or ASC, Topic 842, Leases (“ASC 842”) which requires the recognition of the right-of-use assets and relating operating and finance lease liabilities on the balance sheet. Under ASC 842, all leases are required to be recorded on the balance sheet and are classified as either operating leases or finance leases. The lease classification affects the expense recognition in the income statement. Operating lease charges are recorded entirely in operating expenses. Finance lease charges are split, where amortization of the right-of-use asset is recorded in operating expenses and an implied interest component is recorded in interest expense.

 
Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

 

The Company has operations in China. The Company's foreign subsidiaries maintain their accounting records in their respective local currencies, which are their functional currencies. For consolidation purposes, assets and liabilities are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Revenue and expenses are translated using average exchange rates during the reporting period. Translation adjustments resulting from the consolidation of foreign operations are recorded in accumulated other comprehensive income (loss), a component of stockholders' equity.

 
Reclassification, Comparability Adjustment [Policy Text Block]

Reclassifications

 

Certain amounts in the prior period consolidated statements of cash flows have been reclassified to conform to the current period presentation. For the nine months ended September 30, 2025, the reclassification resulted in a $94 increase in net cash used in operating activities and a corresponding $94 increase in net cash provided by investing activities. The reclassification had no effect on the net change in cash and cash equivalents.

 
New Accounting Pronouncements, Policy [Policy Text Block]

Other Recent Pronouncements

 

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The amendments enhance reportable segment disclosure requirements, primarily through additional disclosures regarding significant segment expenses regularly provided to the chief operating decision maker (“CODM”) and included in the reported measure of segment profit or loss. The amendments also enhance interim disclosure requirements and apply to entities with a single reportable segment.

 

The Company adopted ASU 2023-07 for annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. The adoption did not impact the Company's consolidated financial position, results of operations, or cash flows but resulted in additional segment disclosures. See Note 18 – Segment Information.

 

Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA and the SEC did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.