Quarterly report [Sections 13 or 15(d)]

Basis of Presentation and Significant Accounting Policies (Tables)

v3.25.3
Basis of Presentation and Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2025
Basis of Presentation and Significant Accounting Policies  
Schedule of cash, cash equivalents and restricted cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated statements of cash flows (in thousands):

​

​

​

​

​

​

​

​

​

September 30, 

​

December 31, 

​

​

2025

​

2024

Unrestricted cash

​

$

10,182

​

$

8,983

Unrestricted cash equivalents

​

​

35,007

​

​

92,671

Total unrestricted cash and cash equivalents

​

$

45,189

​

$

101,654

Short-term restricted cash

​

​

45,288

​

​

1,330

Long-term restricted cash

​

​

40,076

​

​

3,432

Total restricted cash

​

$

85,364

​

$

4,762

Total unrestricted and restricted cash and cash equivalents

​

$

130,553

​

$

106,416

Schedule of cash equivalents classified as available-for-sale debt securities

Cash equivalents classified as available-for-sale debt securities consisted of the following (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2025

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated Fair

​

​

Cost Basis

​

Gains

​

Losses

​

Value

U.S. treasury bills

​

$

26,075

​

$

127

​

$

—

​

$

26,202

Total debt securities

​

$

26,075

​

$

127

​

$

—

​

$

26,202

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated Fair

​

​

Cost Basis

​

Gains

​

Losses

​

Value

U.S. treasury bills

​

$

20,294

​

$

73

​

$

—

​

$

20,367

Total debt securities

​

$

20,294

​

$

73

​

$

—

​

$

20,367

Schedule of restricted cash

Restricted cash consisted of the following (in thousands):

​

​

​

​

​

​

​

​

​

September 30,

​

December 31,

​

​

2025

​

2024

Short-term restricted cash held for Blue Owl Loan

​

$

160

​

$

1,330

Short-term restricted cash held for Boston Lease payments

​

​

5,244

​

​

—

Short-term restricted cash held for the acquisition of Mural

​

​

39,884

​

​

—

Total short-term restricted cash

​

$

45,288

​

$

1,330

​

​

​

​

​

​

​

Long-term restricted cash held for Blue Owl Loan

​

​

2,014

​

​

3,432

Long-term restricted cash held for Boston Lease security deposit

​

​

1,631

​

​

—

Long-term restricted cash held for Boston Lease payments

​

​

36,431

​

​

—

Total long-term restricted cash

​

$

40,076

​

$

3,432

Total restricted cash

​

$

85,364

​

$

4,762