Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements

v3.25.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

3. Fair value measurements

Cash, cash equivalents, marketable securities 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, marketable securities and restricted cash:

 

 

As of September 30, 2025

 

 

 

 

 

 

Gross

 

 

 

 

 

Cash

 

 

 

 

 

 

 

 

 

Adjusted

 

 

unrealized

 

 

 

 

 

and cash

 

 

Marketable

 

 

Restricted

 

 

 

cost

 

 

gains

 

 

Fair value

 

 

equivalents

 

 

securities

 

 

cash

 

Cash

 

$

28,439

 

 

$

—

 

 

$

28,439

 

 

$

28,439

 

 

$

—

 

 

$

—

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

 

51,351

 

 

 

—

 

 

 

51,351

 

 

 

50,070

 

 

 

—

 

 

 

1,281

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

8,698

 

 

 

7

 

 

 

8,705

 

 

 

—

 

 

 

8,705

 

 

 

—

 

U.S. Treasury securities

 

 

9,984

 

 

 

58

 

 

 

10,042

 

 

 

2,000

 

 

 

8,042

 

 

 

—

 

Institutional Insured Liquidity Deposit Savings

 

 

25,967

 

 

 

—

 

 

 

25,967

 

 

 

25,967

 

 

 

—

 

 

 

—

 

Total

 

$

124,439

 

 

$

65

 

 

$

124,504

 

 

$

106,476

 

 

$

16,747

 

 

$

1,281

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2024

 

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

Cash

 

 

 

 

 

 

 

 

 

Adjusted

 

 

unrealized

 

 

 

 

 

and cash

 

 

Restricted

 

 

 

 

 

 

cost

 

 

gains

 

 

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 $1,062 and a receivable of $351 as of September 30, 2025 and December 31, 2024, respectively.

Accumulated other comprehensive income (loss)

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

 

 

Foreign

 

 

Unrealized

 

 

Unrealized

 

 

Accumulated

 

 

 

currency

 

 

gains

 

 

losses

 

 

other

 

 

 

translation

 

 

on marketable

 

 

on cash

 

 

comprehensive

 

 

 

adjustments

 

 

securities

 

 

flow hedges

 

 

income (loss)

 

Balance as of December 31, 2024

 

$

(1,501

)

 

$

—

 

 

$

—

 

 

$

(1,501

)

Other comprehensive income (loss)

 

 

5,765

 

 

 

65

 

 

 

(645

)

 

 

5,185

 

Balance as of September 30, 2025

 

$

4,264

 

 

$

65

 

 

$

(645

)

 

$

3,684

 

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 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 September 30, 2025

 

$

—