Company: ANY
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001591956-25-000006
Chunk: 13

Company: Sphere 3D Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 equivalents, accounts payable and accrued liabilities are generally considered to be representative of their respective fair values because of the short-term nature of those instruments. 

11

The following tables provide a summary of the assets and liabilities that are measured at fair value on a recurring basis (in thousands):March 31, 2025Fair ValueLevel 1Level 2Level 3Assets:Investment in equity securities$3,880 $3,880 $— $— Bitcoin1,873 1,873 — — Total$5,753 $5,753 $— $— Liabilities:Warrant liabilities$3 $— $— $3 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 The Company’s investment is in publicly held equity securities which have readily determinable fair values. During the three months ended March 31, 2025 and 2024, the Company recognized an unrealized loss of $3.7 million and gain of $2.7 million, respectively, within other income (expense) in its 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:March 31,2025December 31,2024Common share price$0.40 $0.94 Expected volatility95.0 %125.0 %Risk-free interest rate4.0 %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, 2025$3 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 combination measured using significant unobservable inputs (Level 3