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INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Company's Recurring Financial Assets and Liabilities Subject to Fair Value Measurements

The Company’s financial assets and liabilities subject to fair value measurements were as follows:

						Fair Value Measurements as of December 31, 2024
Description						Total						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total Gains (Losses)
Assets:
Money market funds (1)						$	85,535					$	85,535					$	—					$	—
U. S. treasury bills (2)						52,744						52,744						—						—
Certificates of deposit (3)						507						—						507						—
PropTech convertible trading debt securities						1,254						—						—						1,254
Long-term investments
Long-term investment securities at fair value (4)						3,127						—						—						—
Total long-term investments						3,127						—						—						—
Total assets						$	143,167					$	138,279					$	507					$	1,254
Liabilities:
Fair value of derivatives embedded within convertible debt						$	30,253					$	—					$	—					$	30,253					$	(14,978)
Total liabilities						$	30,253					$	—					$	—					$	30,253					$	(14,978)
Nonrecurring fair value measurements
Long-term investments (5)						$	—																	$	—					$	(489)
						$	—																	$	—					$	(489)

_____________________________

(1)Amounts included in Cash and cash equivalents on the consolidated balance sheets, except for $4,081 that is included in current restricted cash and cash equivalents and $2,483 that is included in non-current restricted assets.

(2)$42,940 included in Cash and cash equivalents and $9,804 included in investment securities at fair value.

(3)$345 included in other current assets and $162 included in other assets on the consolidated balance sheets.

(4)In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

(5)Long-term investments with a carrying amount of $489 were written down to their fair value of $0, resulting in an impairment charge of $489 as a part of investment and other income for the year ended December 31, 2024.

						Fair Value Measurements as of December 31, 2023
Description						Total						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (1)						$	59,595					$	59,595					$	—					$	—
U. S. treasury bills (2)						51,200						51,200						—						—
Certificates of deposit (3)						507						—						507						—
Long-term investments
PropTech convertible trading debt securities						1,162						—						—						1,162
Long-term investment securities at fair value (4)						2,821						—						—						—
Total long-term investments						3,983						—						—						1,162
Total assets						$	115,285					$	110,795					$	507					$	1,162

_____________________________

(1)Amounts included in Cash and cash equivalents on the consolidated balance sheets, except for $7,171 that is included in current restricted assets and $2,538 that is included in non-current restricted assets.

(2)Amounts included in Cash and cash equivalents on the consolidated balance sheets.

(3)Amounts included in other assets on the consolidated balance sheets.

(4)In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Schedule of Fair Value of the Level 3 Liabilities

The changes in the fair value of these Level 3 liabilities as of December 31, 2024 were as follows:

			2024
Balance as of January 1			$	1,162
Issuance of convertible debt			(15,275)
Change in fair value of derivatives embedded within convertible debt			(14,978)
Change in fair value of PropTech convertible trading debt securities			92
Balance as of December 31			$	(28,999)

Schedule of Unobservable Inputs Related to the Valuations of the Level 3 Liabilities

The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at December 31, 2024:

						Quantitative Information about Level 3 Fair Value Measurements
						Fair Value at
						December 31, 2024						Valuation Technique						Unobservable Input						Range (Actual)
PropTech convertible trading debt securities						$	1,254					Discounted cash flow						Interest rate						5		%
																		Maturity						Feb 2025
																		Volatility						46.82		%
																		Discount rate						25.65		%
Fair value of derivatives embedded within convertible debt						$	30,253					Binomial Lattice Model						Assumed annual stock dividend						—		%
																		Assumed annual cash dividend						—		%
																		Stock price						$	1.67
																		Volatility						50		%
																		Risk-free rate						4.36		%
																		Implied credit spread						8.06		%

The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at December 31, 2023:

Quantitative Information about Level 3 Fair Value Measurements

Fair Value at

December 31, 2023

Valuation Technique

Unobservable Input

Range (Actual)

PropTech convertible trading debt securities

$

1,162

Discounted cash flow

Interest rate

5

%

Maturity

Feb 2025

Volatility

40.25

%

Discount rate

30.37

%

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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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-Topic 820
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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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