v3.25.2
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of assets and liabilities measured at fair value on a recurring basis

Fair Value Measurements Using

As of June 30, 2025 (unaudited)

Fair Value

    

Prices in active markets for identical assets (Level 1)

    

Significant other observable inputs
(Level 2)

    

Significant unobservable inputs
(Level 3)

Money Market Funds

$

252,658

$

252,658

$

$

ecosio Cash Earn-outs

77,900

77,900

ecosio Stock Earn-outs

32,200

32,200

Long-Term Investment (See Note 3)

15,000

15,000

Fair Value Measurements Using

As of December 31, 2024

Fair Value

    

Prices in active markets for identical assets (Level 1)

    

Significant other observable inputs
(Level 2)

    

Significant unobservable inputs
(Level 3)

Money Market Funds

$

276,374

$

276,374

$

$

Commercial Paper

4,920

4,920

Corporate Bonds

250

250

U.S. Treasury Securities

5,983

5,983

ecosio Cash Earn-outs

74,400

74,400

ecosio Stock Earn-outs

48,100

48,100

Schedule of additional information on Cash and Stock Earn-outs

Maximum

Fair Value

Fair Value

Cash Earn-outs/ Period (unaudited)

Payout

June 30, 2025

December 31, 2024

Year 1 - December 1, 2024 - December 1, 2025

$

19,600

$

18,400

$

17,900

Year 2 - December 1, 2025 - December 1, 2026

30,625

25,900

24,400

Year 3 - December 1, 2026 - December 1, 2027

44,130

33,600

32,100

Total Cash Earn-outs

$

94,355

$

77,900

$

74,400

Maximum

Fair Value

Fair Value

Stock Earn-outs/ Period (unaudited)

Payout (1)

June 30, 2025

December 31, 2024

Year 1 - December 1, 2024 - December 1, 2025

$

12,000

$

11,500

$

17,200

Year 2 - December 1, 2025 - December 1, 2026

12,000

11,000

16,300

Year 3 - December 1, 2026 - December 1, 2027

11,000

9,700

14,600

Total Stock Earn-outs

$

35,000

$

32,200

$

48,100

(1) Maximum payout based on Vertex's August 6, 2024 opening share price of $37.02, as referenced in the purchase agreement.

As of June 30, 2025

As of December 31, 2024

(unaudited)

Current (1)

Non-Current (2)

Current (1)

Non-Current (2)

Cash Earn-outs

$

18,400

$

59,500

$

17,900

$

56,500

Stock Earn-outs

11,500

20,700

17,200

30,900

Total

$

29,900

$

80,200

$

35,100

$

87,400

(1) Included in purchase commitment and contingent consideration liabilities, current.

(2) Included in purchase commitment and contingent consideration liabilities, net of current portion.

Summary of changes in the fair value of the Company's level 3 liabilities

ecosio

Contingent Consideration

Kintsugi

Cash Earn-outs

Stock Earn-outs

Long-term Investment

(unaudited)

(unaudited)

Balance, January 1, 2025

$

74,400

$

48,100

$

Initial measurement

15,000

Fair value adjustments

3,500

(15,900)

Balance, June 30, 2025

$

77,900

$

32,200

$

15,000

Ecosio  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Summary of fair value of contingent consideration and unobservable inputs used for the Monte Carlo Simulation valuation

June 30, 2025 (unaudited)

Liabilities

    

Fair Value

    

Valuation Technique

Unobservable Inputs

ecosio Contingent Consideration - Cash Earn-outs

$

77,900

Monte Carlo Simulation

Revenue volatility

24.0

%

Revenue discount rate

7.4

%

Term (in years)

2.7

ecosio Contingent Consideration - Stock Earn-outs

$

32,200

Monte Carlo Simulation

Revenue volatility

24.0

%

Revenue discount rate

7.4

%

Term (in years)

2.7

December 31, 2024

Liabilities

    

Fair Value

    

Valuation Technique

Unobservable Inputs

ecosio Contingent Consideration - Cash Earn-outs

$

74,400

Monte Carlo Simulation

Revenue volatility

21.0

%

Revenue discount rate

7.7

%

Term (in years)

3.2

ecosio Contingent Consideration - Stock Earn-outs

$

48,100

Monte Carlo Simulation

Revenue volatility

21.0

%

Revenue discount rate

7.7

%

Term (in years)

3.2