v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value As of March 31, 2026 and December 31, 2025, the Company had the following financial instruments measured at fair value (in thousands of dollars):
March 31, 2026Level ILevel IILevel IIITotalBalance Sheet LineRecorded Method
Assets
Money market funds$29,659 $— $— $29,659 Cash and cash equivalentsFair value
Treasury bills100,924 — — 100,924 Short-term investmentsAmortized cost
Certificates of deposit— 75,000 — 75,000 Short-term investmentsAmortized cost
Deposits for the leases1,657 — — 1,657 Restricted cashFair value
Total assets$132,240 $75,000 $— $207,240 
Liabilities
Acquisition-related contingent consideration$— $— $1,239 $1,239 Acquisition-related contingent considerationFair value
December 31, 2025Level ILevel IILevel IIITotalBalance Sheet LineRecorded Method
Assets
Money market funds$29,300 $— $— $29,300 Cash and cash equivalentsFair value
Treasury bills50,300 — — 50,300 Cash and cash equivalentsFair value
Treasury bills50,311 — — 50,311 Short-term investmentsAmortized cost
Deposits for the leases1,648 — — 1,648 Restricted cashFair value
Total assets$131,559 $— $— $131,559 
Liabilities
Acquisition-related contingent consideration$— $— $1,589 $1,589 Acquisition-related contingent considerationFair value
Schedule of Fair Value Measurement Inputs and Valuation Techniques As of March 31, 2026 and December 31, 2025, the Company calculated the estimated fair value of the milestones using the following significant unobservable inputs:
 
Value or Range (Weighted-Average)
Unobservable inputMarch 31, 2026December 31, 2025
Discount rate
5.3%
4.8%
Probability of achievement
4% - 30% (25%)
4% - 40% (34%)
Schedule of Short-Term Investments As of March 31, 2026 and December 31, 2025, the Company had the following short-term investments (in thousands of dollars):
March 31, 2026
Amortized CostGross Unrealized Holding GainsGross Unrealized Holding LossesFair Value
Treasury bills$100,924 $57 $— $100,981 
Certificates of deposit75,000 — (125)74,875 
Total short-term investments$175,924 $57 $(125)$175,856 

December 31, 2025
Amortized CostGross Unrealized Holding GainsGross Unrealized Holding LossesFair Value
Treasury bills$50,311 $69 $— $50,380