v3.25.1
Fair Value Disclosures (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Measured At Fair Value On a Recurring Basis

The following table represents the fair value of the financial instruments measured at fair value on a recurring basis:

 

 

As of March 31, 2025

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

343,218

 

 

$

 

 

$

 

 

$

343,218

 

Total assets measured at fair value

 

$

343,218

 

 

$

 

 

$

 

 

$

343,218

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

37,461

 

 

$

37,461

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

37,461

 

 

$

37,461

 

 

 

As of December 31, 2024

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

352,230

 

 

$

 

 

$

 

 

$

352,230

 

Total assets measured at fair value

 

$

352,230

 

 

$

 

 

$

 

 

$

352,230

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

41,864

 

 

$

41,864

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

41,864

 

 

$

41,864

 

 

* Includes cash invested by the Company in money market accounts with certain financial institutions.

Summary of Reconciliations of Changes In The Fair Value of The Liabilities

The following table reconciles the changes in the fair value of the liabilities categorized within Level 3 of the fair value hierarchy for the three months ended March 31, 2025 and 2024:

 

 

Three months ended March 31,

 

 

2025

 

 

2024

 

Balance, beginning of period

 

$

41,864

 

 

$

20,294

 

Payments made during the period

 

 

(7,863

)

 

 

(2,173

)

Change in fair value of earn-out

 

 

3,460

 

 

 

504

 

Balance, end of period

 

$

37,461

 

 

$

18,625