Fair Value Measurements

9 Months Ended

Sep. 30, 2025

4. Fair Value Measurements

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


		September 30, 2025
	Valuation Hierarchy	Amortized Costs		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds	Level 1	$	24,363	$	—	$	—		$	24,363
Short-term investments:
U.S. Treasury securities	Level 1		86,748		81		(6	)		86,823
Corporate debt	Level 2		48,287		75		(3	)		48,359
Commercial paper	Level 2		3,911		5		—			3,916
Foreign entity bond	Level 2		3,098		5		—			3,103
Total cash equivalents and short-term investments		$	166,407	$	166	$	(9	)	$	166,564


		December 31, 2024
	Valuation Hierarchy	Amortized Costs		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds	Level 1	$	110,979	$	—	$	—		$	110,979
Short-term investments:
Corporate debt	Level 2		34,629		43		(1	)		34,671
Total cash equivalents and short-term investments		$	145,608	$	43	$	(1	)	$	145,650

As of September 30, 2025, the remaining contractual maturities for available-for-sale securities were one month to fifteen months. The unrealized losses for securities in an unrealized loss position for more than 12 months as of September 30, 2025, and December 31, 2024 were immaterial. For the three and nine months ended September 30, 2025 and 2024, the Company did not recognize credit loss related to available-for-sale debt securities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

Outset Medical, Inc. 10-Q