Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements

v3.26.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements

4. 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, 2026

 

 

 

 

 

 

Gross

 

 

 

 

 

Cash

 

 

 

 

 

 

 

 

 

Adjusted

 

 

unrealized

 

 

 

 

 

and cash

 

 

Marketable

 

 

Restricted

 

 

 

cost

 

 

losses

 

 

Fair value

 

 

equivalents

 

 

securities

 

 

cash

 

Cash

 

$

19,845

 

 

$

—

 

 

$

19,845

 

 

$

19,845

 

 

$

—

 

 

$

—

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

 

35,964

 

 

 

—

 

 

 

35,964

 

 

 

35,094

 

 

 

—

 

 

 

870

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

2,558

 

 

 

(10

)

 

 

2,548

 

 

 

—

 

 

 

2,548

 

 

 

—

 

U.S. Treasury securities

 

 

12,477

 

 

 

(29

)

 

 

12,448

 

 

 

—

 

 

 

12,448

 

 

 

—

 

Institutional Insured Liquidity Deposit Savings

 

 

26,905

 

 

 

—

 

 

 

26,905

 

 

 

26,905

 

 

 

—

 

 

 

—

 

Total

 

$

97,749

 

 

$

(39

)

 

$

97,710

 

 

$

81,844

 

 

$

14,996

 

 

$

870

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2025

 

 

 

 

 

 

Gross

 

 

 

 

 

Cash

 

 

 

 

 

 

 

 

 

Adjusted

 

 

unrealized

 

 

 

 

 

and cash

 

 

Marketable

 

 

Restricted

 

 

 

cost

 

 

gains

 

 

Fair value

 

 

equivalents

 

 

securities

 

 

cash

 

Cash

 

$

27,858

 

 

$

—

 

 

$

27,858

 

 

$

27,858

 

 

$

—

 

 

$

—

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

 

49,453

 

 

 

—

 

 

 

49,453

 

 

 

48,164

 

 

 

—

 

 

 

1,289

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

7,221

 

 

 

6

 

 

 

7,227

 

 

 

—

 

 

 

7,227

 

 

 

—

 

U.S. Treasury securities

 

 

10,098

 

 

 

17

 

 

 

10,115

 

 

 

1,494

 

 

 

8,621

 

 

 

—

 

Institutional Insured Liquidity Deposit Savings

 

 

26,213

 

 

 

—

 

 

 

26,213

 

 

 

26,213

 

 

 

—

 

 

 

—

 

Total

 

$

120,843

 

 

$

23

 

 

$

120,866

 

 

$

103,729

 

 

$

15,848

 

 

$

1,289

 

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 prepaid expenses and other current assets or accounts payable and accrued expenses, respectively, in the consolidated balance sheets. The Company had a related receivable of $247 and payable of $373 as of September 30, 2026 and December 31, 2025, respectively.

Accumulated other comprehensive income (loss)

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

 

 

Foreign

 

 

Unrealized

 

 

Unrealized

 

 

Accumulated

 

 

 

currency

 

 

gains (losses)

 

 

gains

 

 

other

 

 

 

translation

 

 

on marketable

 

 

on cash

 

 

comprehensive

 

 

 

adjustments

 

 

securities

 

 

flow hedges

 

 

income (loss)

 

Balance as of December 31, 2025

 

$

4,221

 

 

$

22

 

 

$

—

 

 

$

4,243

 

Other comprehensive (loss) income

 

 

(1,213

)

 

 

(61

)

 

 

47

 

 

 

(1,227

)

Balance as of September 30, 2026

 

$

3,008

 

 

$

(39

)

 

$

47

 

 

$

3,016

 

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