Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements

v3.25.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

3. Fair value measurements

Cash, cash equivalents and restricted cash

The following table summarizes fair value measurements by level for the assets measured at fair value on a recurring basis for cash, cash equivalents and restricted cash:

 

 

As of March 31, 2025

 

 

 

 

 

 

 

 

 

Cash

 

 

 

 

 

 

Adjusted

 

 

 

 

 

and cash

 

 

Restricted

 

 

 

cost

 

 

Fair value

 

 

equivalents

 

 

cash

 

Cash

 

$

21,260

 

 

$

21,260

 

 

$

21,260

 

 

$

—

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

 

75,856

 

 

 

75,856

 

 

 

72,210

 

 

 

3,646

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Insured Liquidity Deposit Savings

 

 

25,423

 

 

 

25,423

 

 

 

25,423

 

 

 

—

 

Total

 

$

122,539

 

 

$

122,539

 

 

$

118,893

 

 

$

3,646

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

Cash

 

 

 

 

 

 

Adjusted

 

 

 

 

 

and cash

 

 

Restricted

 

 

 

cost

 

 

Fair value

 

 

equivalents

 

 

cash

 

Cash

 

$

23,053

 

 

$

23,053

 

 

$

23,053

 

 

$

—

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

 

72,129

 

 

 

72,129

 

 

 

68,509

 

 

 

3,620

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

Institutional Insured Liquidity Deposit Savings

 

 

22,233

 

 

 

22,233

 

 

 

22,233

 

 

 

—

 

Total

 

$

117,415

 

 

$

117,415

 

 

$

113,795

 

 

$

3,620

 

Derivative instruments and hedging activities

The Company records the assets or liabilities associated with derivative instruments and hedging activities at fair value based on Level 2 inputs in other current assets or other current liabilities, respectively, in the consolidated balance sheets. The Company had a related payable of $1,888 and a receivable of $351 as of March 31, 2025 and December 31, 2024, respectively.

Accumulated other comprehensive income (loss)

The components of accumulated other comprehensive income (loss) were as follows:

 

 

Foreign

 

 

Unrealized

 

 

Accumulated

 

 

 

currency

 

 

losses

 

 

other

 

 

 

translation

 

 

on cash

 

 

comprehensive

 

 

 

adjustments

 

 

flow hedges

 

 

loss

 

Balance as of December 31, 2024

 

$

(1,501

)

 

$

—

 

 

$

(1,501

)

Other comprehensive income (loss)

 

 

1,855

 

 

 

(865

)

 

 

990

 

Balance as of March 31, 2025

 

$

354

 

 

$

(865

)

 

$

(511

)

 

Comprehensive income (loss) is the total net earnings and all other non-owner changes in equity. Except for net loss and unrealized gains and losses on cash flow hedges, the Company does not have any transactions or other economic events that qualify as comprehensive income (loss).

Earnout liability

The Company had obligations to pay up to $13,000 in an earnout payment related to the Physio-Assist acquisition in cash if certain future regulatory results were met. Such future regulatory results were met with the clearance of the Simeox product on December 23, 2024, and the payment of accrued earnouts was made during the first quarter of 2025.

The reconciliation of the earnout liability measured and carried at fair value on a recurring basis is as follows:

Balance as of December 31, 2024

 

$

13,000

 

Payments of accrued earnouts

 

 

(13,000

)

Balance as of March 31, 2025

 

$

—