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Fair value measurements and investments (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Schedule of Financial Assets and Liabilities Recorded at Fair Value on Recurring Basis | The fair value measurements of the Company’s financial assets and liabilities measured on a recurring basis were as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
(Unaudited, U.S. Dollars, in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Neo Medical convertible loan agreement |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,760 |
Neo Medical preferred equity securities |  |  | — |  |  |  | 10,942 |  |  |  | — |  |  |  | 10,942 |  |  |  | 4,951 |
Other investments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,309 |
Total |  | $ | — |  |  | $ | 10,942 |  |  | $ | — |  |  | $ | 10,942 |  |  | $ | 13,020 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lattus contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | (12,740 | ) |  | $ | (12,740 | ) |  | $ | (8,500 | )
Deferred compensation plan |  |  | — |  |  |  | (1,644 | ) |  |  | — |  |  |  | (1,644 | ) |  |  | (1,674 | )
Total |  | $ | — |  |  | $ | (1,644 | ) |  | $ | (12,740 | ) |  | $ | (14,384 | ) |  | $ | (10,174 | )
Schedule of Reconciliation of Investments in Equity Securities | The table below presents a reconciliation of the beginning and ending balances of the Company’s investment in Neo Medical preferred equity securities:
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |
Fair value of Neo Medical preferred equity securities at January 1 |  | $ | 4,951 |  |  | $ | 6,084 |
Conversion of loan into preferred equity securities |  |  | 8,224 |  |  |  | — |
Foreign currency remeasurement recognized in other income (expense), net |  |  | — |  |  |  | — |
Unrealized loss recognized in other expense, net |  |  | (2,233 | ) |  |  | — |
Fair value of Neo Medical preferred equity securities at June 30 |  | $ | 10,942 |  |  | $ | 6,084 |
Cumulative unrealized gain (loss) on Neo Medical preferred equity securities |  | $ | (2,953 | ) |  | $ | 413 |
Schedule of Reconciliation For Contingent Consideration Measured At Fair Value Using Significant Unobservable Inputs | The following table provides a reconciliation of the beginning and ending balances for the Lattus contingent consideration measured at estimated fair value using significant unobservable inputs (Level 3):
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |
Lattus contingent consideration estimated fair value at January 1 |  | $ | 8,500 |  |  | $ | — |
Contingent consideration assumed in the Merger |  |  | — |  |  |  | 11,200 |
Increase (decrease) in fair value recognized in acquisition-related amortization and remeasurement |  |  | 4,240 |  |  |  | (1,300 | )
Lattus contingent consideration estimated fair value at June 30 |  | $ | 12,740 |  |  | $ | 9,900 |
Fair Value, Inputs, Level 3 [Member] |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Schedule of Reconciliation For Convertible Loans Measured At Fair Value Using Significant Unobservable Inputs |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |
Fair value of Neo Medical Convertible Loan at January 1 |  | $ | 6,760 |  |  | $ | 7,140 |
Gains (losses) recorded for the period |  |  |  |  |  |
Recognized in other comprehensive income |  |  | 1,671 |  |  |  | 117 |
Interest recognized in interest income, net |  |  | 162 |  |  |  | 238 |
Foreign currency remeasurement recognized in other income (expense), net |  |  | (602 | ) |  |  | 195 |
Reversal of expected credit loss recognized in other income (expense), net |  |  | 260 |  |  |  | — |
Conversion into preferred equity securities |  |  | (8,224 | ) |  |  | — |
Realized foreign currency loss recognized in other income (expense), net |  |  | (27 | ) |  |  | — |
Fair value of Neo Medical Convertible Loan at June 30 |  | $ | — |  |  | $ | 7,690 |
Contractual value of Neo Medical Convertible Loan at June 30 |  | $ | — |  |  | $ | 6,340 |
Allowance for credit loss recognized in other income (expense), net |  |  | — |  |  |  | — |
Amortized cost basis of Neo Medical Convertible Loan at June 30 |  | $ | — |  |  | $ | 6,340 |
Schedule of Changes in Valuation of Securities | The following table provides quantitative information related to certain key assumptions utilized within the valuation as of June 30, 2024:
(Unaudited, U.S. Dollars, in thousands) |  | Fair Value as of June 30, 2024 |  |  | Unobservable inputs |  | Estimate
Lattus Contingent Consideration |  | $ | 12,740 |  |  | Counterparty discount rates |  | 13.7% - 14.3%
|  |  |  |  | Revenue risk-adjusted discount rates |  | 7.5% - 8.2%

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + 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 + Details
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