Quarterly report [Sections 13 or 15(d)]

FAIR VALUE MEASUREMENT

v3.26.1
FAIR VALUE MEASUREMENT
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT
NOTE 7—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.
March 31, 2026
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 32  —  —  32 
Private Warrants —  23  —  23 
Contingent consideration
 —  —  5,528  5,528 
Total financial liabilities $ 32  $ 23  $ 5,528  $ 5,583 
December 31, 2025
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 43  —  —  43 
Private Warrants —  31  —  31 
Contingent consideration
 —  —  8,308  8,308 
Total financial liabilities $ 43  $ 31  $ 8,308  $ 8,382 
On July 1, 2024, PLAYSTUDIOS US, LLC, a direct wholly-owned subsidiary of the Company entered into an asset purchase agreement to acquire certain tangible and intangible assets and assumed certain liabilities from Pixode Games Limited (“Pixode"), a mobile casual games publisher ("Pixode Acquisition"). 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. As of March 31, 2026 and December 31, 2025, significant unobservable inputs include a discount rate of approximately 13.0% and 12.1%, respectively, and the probability of revenue growth over the same three year period.