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Derivative Instruments | 3 Months Ended
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Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | 7. DERIVATIVE INSTRUMENTS The following table summarizes the location and gross fair values of individual derivative instruments and the impact of legal rights of offset as reported in the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025:
| March 31, 2026 |  | December 31, 2025
| Gross Amounts of Recognized Assets / Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet |  | Gross Amount of Collateral Received / Pledged not Offset in the Consolidated Balance Sheet |  | Net Amount |  | Gross Amounts of Recognized Assets / Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet |  | Gross Amount of Collateral Received / Pledged not Offset in the Consolidated Balance Sheet |  | Net Amount
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FX forwards | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total derivative assets | $ | 3 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FX forwards | 429 |  |  | 3 |  |  | 426 |  |  | — |  |  | 426 |  |  | 8 |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Total derivative liabilities | $ | 429 |  |  | $ | 3 |  |  | $ | 426 |  |  | $ | — |  |  | $ | 426 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | $ | 8 |
The following table summarizes the location and amount of gains and losses of derivative contracts in the Consolidated Statements of Income (Loss) for the three months ended March 31, 2026 and 2025:
| Location of Gain (Loss) Recognized in Consolidated Statements of Income (Loss) |  | Amount of Gain (Loss) Recognized in Consolidated Statements of Income (Loss)
|  | Three Months Ended March 31, |  |
|  | 2026 |  | 2025 |  |  |  |
Derivatives: |  |  |  |  |  |  |  |  |
FX forwards | Revenues, other |  | $ | (519) |  |  | $ | 427 |  |  |  |  |
Total derivatives |  |  | $ | (519) |  |  | $ | 427 |  |  |  |  |
Octave Ventures utilizes FX forward contracts to partially hedge its foreign currency exposure. Octave Ventures' functional currency is the British Pound, but a significant portion of its revenues are generated in currencies other than the British Pound, particularly the US Dollar. Octave Ventures, therefore, typically enters into forward contracts to partially hedge its exposure to fluctuations in exchange rates relative to the British Pound. Octave also holds warrants to purchase equity shares of a development stage company. Information about FX forward contracts as of March 31, 2026 and December 31, 2025, is summarized below:
Derivative Type |  | Weighted-Average Remaining Term (years) |  | Face Amount (Buy) |  | Face Amount (Sell) |  | Fair Value Asset (Liability)
March 31, 2026 |  |  |  |  |  |  |  |
FX Forwards-Buy GBP/Sell USD |  | 1.23 |  | 32,134 |  |  | 42,700 |  |  | (429) |
FX Forwards-Buy GBP/Sell CAD |  | 0.56 |  | 1,149 |  |  | 2,400 |  |  | 3 |
December 31, 2025 |  |  |  |  |  |  |  |
FX Forwards-Buy GBP/Sell USD |  | 1.39 |  | 17,876 |  |  | 24,000 |  |  | (6) |
FX Forwards-Buy GBP/Sell CAD |  | 0.73 |  | 1,530 |  | 2,800 |  | (2) |

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