v3.25.2
Fair value (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair value measurements, recurring and nonrecurring The following table summarizes certain fair value information as of June 30, 2025 and
December 31, 2024 for financial assets and liabilities measured at fair value on a recurring basis, as well as estimated fair values of certain other financial assets and liabilities not measured on a recurring basis:
Fair Value Hierarchy
BalanceEstimated Fair ValueLevel 1Level 2Level 3
(in thousands)
June 30, 2025
Financial Assets:
Cash equivalents:
Money market funds
$275,093 $275,093 $275,093 $— $— 
Long-term investments:
Non-marketable equity securities(1)
$1,250 
Financial Liabilities:
Contingent consideration payable
$3,913 $3,913 $— $— $3,913 
December 31, 2024
Financial Assets:
Cash equivalents:
Money market funds
$267,206 $267,206 $267,206 $— $— 
Long-term investments:
Non-marketable equity securities(1)
$1,250 
Financial Liabilities:
Contingent consideration payable
$9,729 $9,729 $— $— $9,729 
__________________________
(1)Equity securities of a related party, a company affiliated with the member of the Company’s Board of Directors, that do not have readily determinable fair value and are measured at cost.
Contingent consideration measurement inputs
The following table presents the weighted average discount rates for risk-free performance targets and time value used to determine fair values of contingent considerations payables for acquisitions completed during the year ended December 31, 2024 as of June 30, 2025:
Mobile Computing
JUXT
Weighted average discount rate for risk-free performance targets
22.9 %14.7 %
Discount rate for credit risk and time value
2.8 %2.8 %
Reconciliation of acquisition-related contingent consideration payable A reconciliation of the beginning and ending balances of Level 3 acquisition-
related contingent consideration payable using significant unobservable inputs for the six months ended June 30, 2025 is as follows:
Amount
(in thousands)
Contingent consideration payable as of January 1, 2025
$9,729 
Change in fair value of contingent consideration payable included in Other income, net - JUXT
(6,649)
Change in fair value of contingent consideration payable included in Other income, net - Mobile Computing
300 
Effect of net foreign currency exchange rate changes
533 
Contingent consideration payable as of June 30, 2025
$3,913