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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of changes in Investments | The change in our investments for the three and six months ended June 30, 2025 and June 30, 2024 are as follows:
|  | Three Months Ended June 30, 2025
|  | Fair Value Measurements Using
|  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  |  |  | Significant Unobservable Inputs |  |
|  | (Level 1) |  |  |  | (Level 3) |  | Total
|  | (in thousands)
Investment balance at beginning of period |  | $ | 1,016 |  |  |  |  | $ | 8,670 |  |  | $ | 9,686 |
Unrealized gain (loss) on equity securities |  | 552 |  |  |  |  | (191) |  |  | 361 |
Unrealized loss on embedded option |  | — |  |  |  |  | (660) |  |  | (660) |
Unrealized loss on convertible note, excluding embedded option |  | — |  |  |  |  | (416) |  |  | (416) |
Investment balance at end of period |  | $ | 1,568 |  |  |  |  | $ | 7,403 |  |  | $ | 8,971 |
|  | Three Months Ended June 30, 2024
|  | Fair Value Measurements Using
|  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  |  |  | Significant Unobservable Inputs |  |
|  | (Level 1) |  |  |  | (Level 3) |  | Total
|  | (in thousands)
Investment balance at beginning of period |  | $ | 13,148 |  |  |  |  | $ | 7,238 |  |  | $ | 20,386 |
Unrealized gain on equity securities |  | 131 |  |  |  |  | — |  |  | 131 |
Unrealized loss on embedded option |  | — |  |  |  |  | (85) |  |  | (85) |
Unrealized loss on convertible note, excluding embedded option |  | — |  |  |  |  | (5) |  |  | (5) |
Investment balance at end of period |  | $ | 13,279 |  |  |  |  | $ | 7,148 |  |  | $ | 20,427 |
|  | Six Months Ended June 30, 2025
|  | Fair Value Measurements Using
|  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  |
|  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total
|  | (in thousands)
Investment balance at beginning of period |  | $ | 19,561 |  |  | $ | 1,388 |  |  | $ | 7,210 |  |  | $ | 28,159 |
Sale of investments |  | (18,393) |  |  | — |  |  | — |  |  | (18,393) |
Reclassification between Level 2 and Level 3 fair value |  | — |  |  | (1,388) |  |  | 1,388 |  |  | — |
Unrealized gain (loss) on equity securities |  | 400 |  |  | — |  |  | (177) |  |  | 223 |
Unrealized loss on embedded option |  | — |  |  | — |  |  | (883) |  |  | (883) |
Unrealized loss on convertible note, excluding embedded option |  | — |  |  | — |  |  | (135) |  |  | (135) |
Investment balance at end of period |  | $ | 1,568 |  |  | $ | — |  |  | $ | 7,403 |  |  | $ | 8,971 |
|  | Six Months Ended June 30, 2024
|  | Fair Value Measurements Using
|  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  |  |  | Significant Unobservable Inputs |  |
|  | (Level 1) |  |  |  | (Level 3) |  | Total
|  | (in thousands)
Investment balance at beginning of period |  | $ | 10,154 |  |  |  |  | $ | 7,200 |  |  | $ | 17,354 |
Unrealized gain on equity securities |  | 3,125 |  |  |  |  | — |  |  | 3,125 |
Unrealized loss on embedded option |  | — |  |  |  |  | (284) |  |  | (284) |
Unrealized gain on convertible note, excluding embedded option |  | — |  |  |  |  | 232 |  |  | 232 |
Investment balance at end of period |  | $ | 13,279 |  |  |  |  | $ | 7,148 |  |  | $ | 20,427 |
Schedule of Recurring Fair Value Measurements | Recurring fair value measurements by valuation hierarchy as of June 30, 2025 and December 31, 2024 are as follows:
|  |  |  | Fair Value Measurements Using
|  | Total as of |  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
Description |  | June 30, 2025 |  | (Level 1) |  | (Level 2) |  | (Level 3)
|  | (in thousands)
Investment in Standard Lithium |  | $ | 1,568 |  |  | $ | 1,568 |  |  | $ | — |  |  | $ | — |
Other investments |  | 7,403 |  |  | — |  |  | — |  |  | 7,403 |
Total investments |  | $ | 8,971 |  |  |  |  |  |  |
|  |  |  | Fair Value Measurements Using
|  | Total as of |  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
Description |  | December 31, 2024 |  | (Level 1) |  | (Level 2) |  | (Level 3)
|  | (in thousands)
Investment in Kodiak |  | $ | 18,393 |  |  | $ | 18,393 |  |  | $ | — |  |  | $ | — |
Investment in Standard Lithium |  | 1,168 |  |  | 1,168 |  |  | — |  |  | — |
Other investments |  | 8,598 |  |  | — |  |  | 1,388 |  |  | 7,210 |
Total investments |  | $ | 28,159 |  |  |  |  |  |  |

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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