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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of changes in Investments

The change in our investments for the three and nine months ended September 30, 2025 and September 30, 2024 are as follows:

						Three Months Ended September 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						$	1,568											$	7,403					$	8,971
Unrealized gain (loss) on equity securities						1,128												(11)						1,117
Unrealized loss on embedded option						—												(21)						(21)
Unrealized gain on convertible note, excluding embedded option						—												342						342
Investment balance at end of period						$	2,696											$	7,713					$	10,409

						Three Months Ended September 30, 2024
						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						$	13,279					$	—					$	7,148					$	20,427
Purchase of investments						—						1,000						21						1,021
Reclassification between Level 2 and Level 3 fair value						—						350						(350)						—
Unrealized gain on equity securities						1,072						38						193						1,303
Unrealized loss on embedded option						—						—						(553)						(553)
Unrealized gain on convertible note, excluding embedded option						—						—						556						556
Investment balance at end of period						$	14,351					$	1,388					$	7,015					$	22,754

						Nine Months Ended September 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						1,528						—						(188)						1,340
Unrealized loss on embedded option						—						—						(904)						(904)
Unrealized gain on convertible note, excluding embedded option						—						—						207						207
Investment balance at end of period						$	2,696					$	—					$	7,713					$	10,409

						Nine Months Ended September 30, 2024
						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						$	10,154					$	—					$	7,200					$	17,354
Purchase of investments						—						1,000						21						1,021
Reclassification between Level 2 and Level 3 fair value						—						350						(350)						—
Unrealized gain on equity securities						4,197						38						1,070						5,305
Unrealized loss on embedded option						—						—						(1,714)						(1,714)
Unrealized gain on convertible note, excluding embedded option						—						—						788						788
Investment balance at end of period						$	14,351					$	1,388					$	7,015					$	22,754

Schedule of Recurring Fair Value Measurements

Recurring fair value measurements by valuation hierarchy as of September 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 Unobservable Inputs
Description						September 30, 2025						(Level 1)												(Level 3)
						(in thousands)
Investment in Standard Lithium						$	2,696					$	2,696											$	—
Other investments						7,713						—												7,713
Total investments						$	10,409

												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

X

- 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

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-Topic 820
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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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
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-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

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