Company: ANY
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001591956-25-000009
Chunk: 46

Company: Sphere 3D Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 46
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Level 2Level 3Assets:Investment in equity securities$3,414 $3,414 $— $— Bitcoin2,200 2,200 — — Total$5,614 $5,614 $— $— Liabilities:Warrant liabilities$2 $— $— $2 December 31, 2024Fair ValueLevel 1Level 2Level 3Assets:Investment in equity securities$7,530 $7,530 $— $— Bitcoin1,394 1,394 — — Total$8,924 $8,924 $— $— Liabilities:Warrant liabilities$31 $— $— $31 

11

The Company’s investment is in publicly held equity securities which have readily determinable fair values. During the three and six months ended June 30, 2025, an unrealized gain of $1.2 million and unrealized loss of $2.5 million, respectively, was recognized within investment gain in the consolidated statements of operations related to the fair value change of the investment in equity securities. During the three and six months ended June 30, 2024, an unrealized gain of $7.3 million and $4.5 million, respectively, was recognized within investment gain in the consolidated statements of operations related to the fair value change of the investment in equity securities.The fair value of the warrant liabilities was measured using a Black Scholes valuation model with the following assumptions:June 30,2025December 31,2024Common share price$0.60 $0.94 Expected volatility65.0 %125.0 %Risk-free interest rate4.1 %4.2 %The following table presents the activities of warrant liabilities that are measured at fair value (in thousands): Warrant liability as of January 1, 2025$31 Change in fair value(28)Warrant liability as of March 31, 20253 Change in fair value(1)Warrant liability as of June 30, 2025$2 Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis 

The Company's non-financial assets such as property and equipment and intangible assets are recorded at fair value when an impairment is recognized or at the time acquired in an asset acquisition or business