Company: ANY
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001591956-25-000014
Chunk: 15

Company: Sphere 3D Corp.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 considered to be representative of their respective fair values because of the short-term nature of those instruments. The following tables provide a summary of the assets and liabilities that are measured at fair value on a recurring basis (in thousands):September 30, 2025Fair ValueLevel 1Level 2Level 3Assets:Bitcoin$2,588 $2,588 $— $— Liabilities:Warrant liabilities$4 $— $— $4 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 

12

The Company’s investment in equity securities was in publicly held equity securities which had readily determinable fair values. For the three and nine months ended September 30, 2025, there was no remaining unrealized gains or losses on investment in equity securities. For the three and nine months ended September 30, 2024, an unrealized loss of $0.4 million and unrealized gain of $4.1 million, respectively, was recognized within investment gain (loss) 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:September 30,2025December 31,2024Common share price$0.74 $0.94 Expected volatility80.0 %125.0 %Risk-free interest rate3.8 %4.2 %Expected term (in years)0.51.3The 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, 20252 Change in fair value2 Warrant liability as of September 30, 2025$4 Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis 

The Company's non-financial assets such