Quarterly report [Sections 13 or 15(d)]

FAIR VALUE MEASUREMENT

v3.25.3
FAIR VALUE MEASUREMENT
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT
NOTE 8—FAIR VALUE MEASUREMENT
The carrying values of the Company’s cash and cash equivalents, receivables, net, prepaid expenses and other current assets, and accounts payable approximate fair value due to their short maturities.
The following tables present the assets and liabilities measured at fair value on a recurring basis, by input level, in the Condensed Consolidated Balance Sheets at September 30, 2025 and December 31, 2024:
September 30, 2025
Level 1 Level 2 Level 3 Total
Financial assets:
Derivative financial instruments —  220  —  220 
Total financial assets $ —  $ 220  $ —  $ 220 
September 30, 2025
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 113  —  —  113 
Private Warrants —  80  —  80 
Contingent consideration
 —  —  5,362  5,362 
Total financial liabilities $ 113  $ 80  $ 5,362  $ 5,555 
December 31, 2024
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 134  —  —  134 
Private Warrants —  96  —  96 
Derivative financial instruments
 —  38  —  38 
Contingent consideration
 —  —  3,340  3,340 
Total financial liabilities $ 134  $ 134  $ 3,340  $ 3,608 
The fair value of our Level 3 contingent consideration liabilities relates to the Pixode Acquisition. This contingent consideration is primarily based on expected payments arising from a percentage of an adjusted net revenue for a three year period commencing on the re-launch date of the rebranded Pixode assets, payable at the end of each fiscal year. The value of these payments are subject to various market and operational risks. Significant unobservable inputs include a discount rate of approximately 12.6% and the probability of revenue growth over the same three year period. See Note 4—Business Combinations for more information on the Pixode Acquisition.