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ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Business Overview</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are a life science technology company that designs, develops, and manufactures advanced sequencing solutions that enable scientists and clinical researchers to improve their understanding of the genome and ultimately, resolve genetically complex problems.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our products and technology, which primarily consist of our HiFi long-read sequencing systems, address a broad set of applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our focus is on creating some of the world's most advanced sequencing systems to provide our customers with the most complete and accurate view of genomes, transcriptomes, and epigenomes.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our customers include academic and governmental research institutions, commercial testing and service laboratories, genome centers, public health labs, hospitals and clinical research institutes, contract research organizations ("CROs"), pharmaceutical companies, and agricultural companies.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">References in this report to “PacBio,” “we,” “us,” the “Company,” and “our” refer to Pacific Biosciences of California, Inc. and its consolidated subsidiaries.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Basis of Presentation and Consolidation</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or U.S. GAAP, as set forth in the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC. The unaudited condensed consolidated financial statements include the accounts of Pacific Biosciences and our wholly owned subsidiaries. Certain information and footnote disclosures typically included in our audited financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on a consistent basis with the December 31, 2025 audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state our financial position, results of operations, comprehensive loss, and cash flows for the period, but are not necessarily indicative of the results to be expected for the entire year or any future periods. All intercompany transactions and balances have been eliminated.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Annual Report").</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Use of Estimates</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes to the financial statements. On an ongoing basis, we evaluate our significant estimates, including those relating to the valuation of inventory, fair value of contingent consideration, valuation of acquired intangible assets, useful lives assigned to finite-lived assets, asset impairment assessments, computation of provisions for income taxes, and valuations related to our convertible senior notes. While the extent of the potential impact of current macroeconomic conditions on our business is highly uncertain, we considered information available related to assumptions and estimates used to determine the results reported and asset valuations as of March 31, 2026. Actual results could differ materially from these estimates.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash, Cash Equivalents, Restricted Cash, and Investments</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. Cash equivalents may be comprised of money market funds, certificates of deposit, commercial paper, corporate bonds and notes, and government agencies’ securities.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We classify our investments in debt securities as available-for-sale and report the investments at fair value in current assets. We evaluate our available-for-sale investments in unrealized loss positions and assess whether the unrealized loss is credit-related. Unrealized gains and losses that are not credit-related are recognized in accumulated other comprehensive income (loss) in stockholders’ equity. Realized gains and losses, expected credit losses, as well as interest income, on available-for-sale securities are reported in other income, net. The cost used in the determination of gains and losses of securities sold is based on the specific identification method. The cost of marketable securities is adjusted for the amortization of premiums and discounts to expected maturity. Premium and discount amortization is recorded in other income, net. We have the ability to hold, and do not intend to sell investments in unrealized loss positions before the recovery of their amortized cost bases.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our investment portfolio at any point in time contains investments in cash deposits, money market funds, commercial paper, corporate debt securities and U.S. government and agency securities with high credit ratings. We have established guidelines regarding diversification and maturities of investments with the objectives of maintaining safety and liquidity, while maximizing yield. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted cash includes cash that is not readily available for use in the Company’s operating activities. Restricted cash is primarily comprised of cash pledged under letters of credit.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Recent Accounting Pronouncements</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Adopted Accounting Standards</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-04, </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt—Debt With Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This new standard clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishment of convertible debt. The standard was effective for us and we adopted prospectively beginning in the first quarter of 2026. The adoption of this new standard did not have a material impact on the consolidated financial statements and related disclosures.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting Pronouncements Pending Adoption</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-03, </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This new standard requires a company to provide disaggregated disclosures, within the notes to the financial statements, of specified categories of expenses that are included in line items on the face of the income statement. The standard will be effective for us beginning in 2027, and interim periods within 2028, with early adoption permitted. The new standard is expected to be applied prospectively, but retrospective application is permitted. We are currently evaluating the impact of ASU 2024-03 on the consolidated financial statements and related disclosures.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2025, the FASB issued ASU 2025-06, </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> This new standard clarifies and modernizes the recognition and disclosure framework for capitalized internal-use software costs by removing all references to project stages and introduces a more judgment-based approach. The standard also clarifies the threshold to be applied to begin capitalizing. The standard will be effective for us beginning in the first quarter of 2028, with early adoption permitted, and can be applied using a prospective, retrospective, or modified transition approach. We are currently evaluating the impact of ASU 2025-06 on the consolidated financial statements and related disclosures.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2025, the FASB issued ASU 2025-10, Accounting for Government Grants Received by Business Entities. This new standard provides guidance on the recognition, measurement, and presentation of government grants. The standard will be effective for us beginning in the first quarter of fiscal year 2029, with early adoption permitted, and can be applied using a modified prospective, modified retrospective or full </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">retrospective transition approach. We are currently evaluating the impact of ASU 2025-10 on the consolidated financial statements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Significant Accounting Policies</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There have been no changes to our significant accounting policies as disclosed in our 2025 Annual Report.</span></div> <div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Basis of Presentation and Consolidation</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or U.S. GAAP, as set forth in the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC. The unaudited condensed consolidated financial statements include the accounts of Pacific Biosciences and our wholly owned subsidiaries. Certain information and footnote disclosures typically included in our audited financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on a consistent basis with the December 31, 2025 audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state our financial position, results of operations, comprehensive loss, and cash flows for the period, but are not necessarily indicative of the results to be expected for the entire year or any future periods. All intercompany transactions and balances have been eliminated.</span></div> <div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Use of Estimates</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes to the financial statements. On an ongoing basis, we evaluate our significant estimates, including those relating to the valuation of inventory, fair value of contingent consideration, valuation of acquired intangible assets, useful lives assigned to finite-lived assets, asset impairment assessments, computation of provisions for income taxes, and valuations related to our convertible senior notes. While the extent of the potential impact of current macroeconomic conditions on our business is highly uncertain, we considered information available related to assumptions and estimates used to determine the results reported and asset valuations as of March 31, 2026. Actual results could differ materially from these estimates.</span></div> <div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash, Cash Equivalents, Restricted Cash, and Investments</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. Cash equivalents may be comprised of money market funds, certificates of deposit, commercial paper, corporate bonds and notes, and government agencies’ securities.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We classify our investments in debt securities as available-for-sale and report the investments at fair value in current assets. We evaluate our available-for-sale investments in unrealized loss positions and assess whether the unrealized loss is credit-related. Unrealized gains and losses that are not credit-related are recognized in accumulated other comprehensive income (loss) in stockholders’ equity. Realized gains and losses, expected credit losses, as well as interest income, on available-for-sale securities are reported in other income, net. The cost used in the determination of gains and losses of securities sold is based on the specific identification method. The cost of marketable securities is adjusted for the amortization of premiums and discounts to expected maturity. Premium and discount amortization is recorded in other income, net. We have the ability to hold, and do not intend to sell investments in unrealized loss positions before the recovery of their amortized cost bases.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our investment portfolio at any point in time contains investments in cash deposits, money market funds, commercial paper, corporate debt securities and U.S. government and agency securities with high credit ratings. We have established guidelines regarding diversification and maturities of investments with the objectives of maintaining safety and liquidity, while maximizing yield. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted cash includes cash that is not readily available for use in the Company’s operating activities. Restricted cash is primarily comprised of cash pledged under letters of credit.</span></div> <div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Recent Accounting Pronouncements</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Adopted Accounting Standards</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-04, </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt—Debt With Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This new standard clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishment of convertible debt. The standard was effective for us and we adopted prospectively beginning in the first quarter of 2026. The adoption of this new standard did not have a material impact on the consolidated financial statements and related disclosures.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting Pronouncements Pending Adoption</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2024, the FASB issued ASU 2024-03, </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This new standard requires a company to provide disaggregated disclosures, within the notes to the financial statements, of specified categories of expenses that are included in line items on the face of the income statement. The standard will be effective for us beginning in 2027, and interim periods within 2028, with early adoption permitted. The new standard is expected to be applied prospectively, but retrospective application is permitted. We are currently evaluating the impact of ASU 2024-03 on the consolidated financial statements and related disclosures.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2025, the FASB issued ASU 2025-06, </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> This new standard clarifies and modernizes the recognition and disclosure framework for capitalized internal-use software costs by removing all references to project stages and introduces a more judgment-based approach. The standard also clarifies the threshold to be applied to begin capitalizing. The standard will be effective for us beginning in the first quarter of 2028, with early adoption permitted, and can be applied using a prospective, retrospective, or modified transition approach. We are currently evaluating the impact of ASU 2025-06 on the consolidated financial statements and related disclosures.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2025, the FASB issued ASU 2025-10, Accounting for Government Grants Received by Business Entities. This new standard provides guidance on the recognition, measurement, and presentation of government grants. The standard will be effective for us beginning in the first quarter of fiscal year 2029, with early adoption permitted, and can be applied using a modified prospective, modified retrospective or full </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">retrospective transition approach. We are currently evaluating the impact of ASU 2025-10 on the consolidated financial statements.</span></div> <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:49.5pt;text-align:justify;text-indent:-49.5pt"><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 2. FINANCIAL INSTRUMENTS</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Fair Value of Financial Instruments</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value hierarchy established under U.S. GAAP requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows:</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">Level 1: quoted prices in active markets for identical assets or liabilities;</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We consider an active market as one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Conversely, we view an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, our non-performance risk, or that of our counterparty, is considered in determining the fair values of liabilities and assets, respectively.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We classify our cash deposits and money market funds within Level 1 of the fair value hierarchy because they are valued using bank balances or quoted market prices. We classify our investments as Level 2 instruments based on market pricing and other observable inputs. We did not classify any of our investments within Level 3 of the fair value hierarchy.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets and liabilities measured at fair value are classified in their entirety based on the lowest level input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying amount of our accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses and other liabilities, current, approximate fair value due to their short maturities.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Assets Measured at Fair Value on a Recurring Basis</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets forth the fair value of our financial assets that were measured on a recurring basis:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:1pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.203%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.933%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March 31, 2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and cash equivalents </span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,496 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,211 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,707 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Investments:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Commercial paper </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Corporate debt securities </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,238 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,238 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23,250 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23,250 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">U.S. government &amp; agency securities</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,450 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,450 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">192,549 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">192,549 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Total investments </span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">215,799 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">215,799 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Short-term restricted cash</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Long-term restricted cash</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,532 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,532 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Total assets measured at fair value </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,864 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">277,552 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62,048 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,010 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">281,058 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three months ended March 31, 2026, there were no transfers between Level 1, Level 2, or Level 3 assets reported at fair value on a recurring basis, and our valuation techniques did not change compared to the prior year.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Contingent Consideration</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the August 2023 Apton Biosystems, Inc. (“Apton”) acquisition, contingent consideration of $25.0 million, which we could elect to pay in cash, shares of our common stock or a combination of cash and shares of our common stock, was due upon the achievement of a milestone, defined as the achievement of $50.0 million in revenue associated with Apton's technology, provided that the milestone event occurred prior to the five-year anniversary of the closing date of the acquisition. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 30, 2026, we completed a disposition of certain assets (the "Asset Sale") to Illumina Cambridge Limited (the “Buyer”) pursuant to an Asset Purchase Agreement dated January 30, 2026. Under the agreement, Buyer acquired certain intellectual property and other assets related to our short-read DNA sequencing technology and related clustering, sequencing reagent, and detection technologies. In consideration, Buyer paid $50.0 million in cash, assumed certain liabilities, and granted us a non-exclusive license to certain intellectual property included in the purchased assets.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three months ended March 31, 2026, in connection with the Asset Sale, Buyer paid, at our direction, 4% of the net cash proceeds to the former equity holders of Apton in connection with the waiver of remaining milestone obligations from the Apton acquisition. As a result, we received approximately $48.1 million in net cash proceeds from the Asset Sale. In connection with the transaction, the Company incurred transaction costs of $2.3M in the first quarter of 2026 that are offset against the gain on disposal of assets on our condensed consolidated statements of operations and comprehensive loss.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contingent consideration was accounted for as a liability at fair value, with changes during each reporting period recognized in our condensed consolidated statements of operations and comprehensive loss. The fair value of the contingent consideration liability was calculated using a Monte Carlo Simulation to estimate the volatility and systematic relative risk of revenues subject to sales milestone payments and discounting the associated cash payment amounts to their present values using a credit-risk-adjusted interest rate.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We classified contingent consideration within Level 3, as factors used to develop the estimate of fair value include unobservable inputs that are not supported by market activity and are significant to the fair value. Estimates and assumptions used in the Monte Carlo simulation include risk-adjusted forecasted revenues for products and services leveraging Apton's technology and an estimated credit spread.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2025, primarily due to management's decision to cease development of the high-throughput short-read system, and the resulting changes in the expected future revenues, among other factors, and as the milestone event needed to occur prior to the five-year anniversary of the closing date of the acquisition, the estimated fair value of the contingent consideration liability was $0, resulting in a change in fair value for the </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">first quarter of 2025 of $18.7 million. Changes to the fair value are recorded as change in fair value of contingent consideration in the condensed consolidated statements of operations and comprehensive loss. </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash, Cash Equivalents, Restricted Cash, and Investments</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables summarize our cash, cash equivalents, restricted cash, and investments:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="21" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of March 31, 2026</span></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortized<br/>Cost </span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>gains</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>losses</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Investments:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate debt securities </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,245 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">28 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(35)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,238 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">U.S. government &amp; agency securities</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">199,590 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">88 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(228)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">199,450 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total investments </span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">219,835 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">116 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(263)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt 2px 28pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total cash, cash equivalents and investments </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">276,109 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">116 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(263)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">275,962 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Short-term restricted cash</span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Long-term restricted cash</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortized<br/>Cost</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>gains</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>losses</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">63,707 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">63,707 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Investments:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate debt securities</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">23,172 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">78 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">23,250 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">U.S. government &amp; agency securities</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">192,170 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">380 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">192,549 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total investments</span></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">215,342 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">458 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">215,799 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 28pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total cash, cash equivalents and investments</span></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">279,049 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">458 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">279,506 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Short-term restricted cash</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Long-term restricted cash</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,532 </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,532 </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of March 31, 2026:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair Value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Due in one year or less </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">136,535 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Due after one year through five years </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">83,153 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment income included in other income, net </span><span style="background-color:#ffffff;color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">on the condensed consolidated statements of operations and comprehensive loss </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was $2.5 million for the three months ended March 31, 2026 and $3.9 million for the three months ended March 31, 2025, respectively.</span></div> <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We consider an active market as one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Conversely, we view an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, our non-performance risk, or that of our counterparty, is considered in determining the fair values of liabilities and assets, respectively.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We classify our cash deposits and money market funds within Level 1 of the fair value hierarchy because they are valued using bank balances or quoted market prices. We classify our investments as Level 2 instruments based on market pricing and other observable inputs. We did not classify any of our investments within Level 3 of the fair value hierarchy.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets and liabilities measured at fair value are classified in their entirety based on the lowest level input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying amount of our accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses and other liabilities, current, approximate fair value due to their short maturities.</span></div> <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets forth the fair value of our financial assets that were measured on a recurring basis:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:1pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.203%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.933%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">March 31, 2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and cash equivalents </span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,496 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,211 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,707 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Investments:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Commercial paper </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Corporate debt securities </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,238 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,238 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23,250 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23,250 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">U.S. government &amp; agency securities</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,450 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,450 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">192,549 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">192,549 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Total investments </span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">215,799 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">215,799 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Short-term restricted cash</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Long-term restricted cash</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,532 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,532 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Total assets measured at fair value </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,864 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">277,552 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62,048 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">219,010 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">281,058 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 56274000 0 0 56274000 60496000 3211000 0 63707000 0 0 0 0 0 0 0 0 0 20238000 0 20238000 0 23250000 0 23250000 0 199450000 0 199450000 0 192549000 0 192549000 0 219688000 0 219688000 0 215799000 0 215799000 19000 0 0 19000 20000 0 0 20000 1571000 0 0 1571000 1532000 0 0 1532000 57864000 219688000 0 277552000 62048000 219010000 0 281058000 25000000.0 50000000.0 P5Y 50000000.0 0.04 48100000 2300000 P5Y 0 18700000 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables summarize our cash, cash equivalents, restricted cash, and investments:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="21" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of March 31, 2026</span></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortized<br/>Cost </span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>gains</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>losses</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">56,274 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Investments:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate debt securities </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,245 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">28 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(35)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,238 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">U.S. government &amp; agency securities</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">199,590 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">88 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(228)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">199,450 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total investments </span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">219,835 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">116 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(263)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt 2px 28pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total cash, cash equivalents and investments </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">276,109 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">116 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(263)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">275,962 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Short-term restricted cash</span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Long-term restricted cash</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,571 </span></td><td style="background-color:#e7f2f9;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortized<br/>Cost</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>gains</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gross<br/>unrealized<br/>losses</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fair<br/>Value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">63,707 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">63,707 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Investments:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate debt securities</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">23,172 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">78 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">23,250 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">U.S. government &amp; agency securities</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">192,170 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">380 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">192,549 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total investments</span></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">215,342 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">458 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">215,799 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 28pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total cash, cash equivalents and investments</span></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">279,049 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">458 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">279,506 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Short-term restricted cash</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Long-term restricted cash</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,532 </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,532 </span></td><td style="border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of March 31, 2026:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair Value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Due in one year or less </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">136,535 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Due after one year through five years </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">83,153 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">219,688 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 56274000 0 0 56274000 20245000 28000 35000 20238000 199590000 88000 228000 199450000 219835000 116000 263000 219688000 276109000 116000 263000 275962000 19000 19000 1571000 1571000 63707000 0 0 63707000 23172000 78000 0 23250000 192170000 380000 1000 192549000 215342000 458000 1000 215799000 279049000 458000 1000 279506000 20000 20000 1532000 1532000 136535000 83153000 219688000 2500000 3900000 <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 3. BALANCE SHEET COMPONENTS </span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Inventory, Net</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our inventory, net, consisted of the following components:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">March 31,<br/>2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Purchased materials</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">34,736 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">38,638 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Work in process</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">27,349 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">27,051 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finished goods</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">17,838 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,709 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 8.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Inventory, gross</span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">79,923 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">81,398 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 2.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Inventory reserve</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(28,901)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(32,113)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 8.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Inventory, net</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,022 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">49,285 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Goodwill and Intangible Assets</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Goodwill</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is reviewed for impairment at least annually during the second quarter, or more frequently if an event occurs indicating the potential for impairment. We completed our annual goodwill impairment assessment on April 1, 2025 and noted no impairment.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based primarily on the decline in our stock price and overall market capitalization during the first quarter of 2025, driven in part by macroeconomic uncertainties, as well as our updated strategic plans and restructuring initiatives that prioritized accelerating adoption of HiFi sequencing and ceasing development of our high-throughput short-read platform, we concluded that changes to the timing and amount of expected future cash flows, among other factors, indicated that it was more likely than not that the fair value of the reporting unit was less than its carrying amount, requiring an interim goodwill impairment assessment. As a result of the quantitative interim impairment test performed as of March 31, 2025, we concluded that there was no impairment, as the estimated fair value of the entity-level reporting unit exceeded the carrying value.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in our future operating results, cash flows, share price, market capitalization or discount rates used when conducting future goodwill impairment tests could affect the implied fair value of goodwill and may result in additional impairment charges in the future.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Intangible Assets</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets include developed technology, customer relationships, and acquired in-process research and development ("IPR&amp;D"). In connection with the Apton acquisition in August 2023, we allocated $55.0 million of the purchase price to IPR&amp;D. IPR&amp;D is reviewed for impairment at least annually, or more frequently if an event occurs indicating the potential for impairment. We recognized a $40.0 million impairment charge during the year ended December 31, 2024 as a result of a quantitative interim impairment test.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the first quarter of 2025, based on our decision to cease development of the high-throughput short-read sequencing platform, which would utilize the IPR&amp;D, and the resulting changes to the expected future cash flows, among other factors, we concluded that it was more likely than not that the fair value of the IPR&amp;D was less than its carrying amount, requiring an interim impairment assessment. Using a discounted cash flow model under the income approach, we determined the fair value was $0 and recorded a $15.0 million impairment charge. The decline in the fair value of the IPR&amp;D to $0 as of March 31, 2025 resulted primarily from changes in the timing of expected future cash flows as compared to the fair value as of December 31, 2024, driven by the restructuring initiatives that prioritize accelerating adoption of HiFi sequencing and resulted in ceasing development of our high-throughput short-read sequencing platform. The impairment charge is included in our condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2025.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See </span><span style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic8e6485e3b024ccf824eb458fab2a8b0_46" style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Note 5. Restructuring</a></span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for additional information on costs incurred in connection with our restructuring activities.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have the following acquired finite-lived intangible assets:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.596%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.163%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.056%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">As of March 31, 2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands, except years)</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Estimated<br/>Useful Life<br/>(in years)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross<br/>Carrying<br/>Amount</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated<br/>Amortization</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net<br/>Carrying<br/>Amount</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross<br/>Carrying<br/>Amount</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated<br/>Amortization</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net<br/>Carrying<br/>Amount</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Developed technology</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3 — 15</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,179 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(407,075)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,104 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,179 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(406,055)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,124 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Customer relationships</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">360 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(360)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">360 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(360)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 28pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,539 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(407,435)</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,104 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,539 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(406,415)</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,124 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated future amortization expense of intangible assets with finite lives is as follows:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Remainder of 2026</span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,059 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2027</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,079 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2028</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,301 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2029</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">745 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2030</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">745 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2031 and thereafter</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,175 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,104 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization of acquired intangible assets is included within our cost of revenue if the costs and expenses related to the intangible assets are attributable to revenue generating activities. Amortization expense for intangible assets that are not directly related to sales generating activities are amortized to operating expenses. For developed technology intangible assets that are utilized in both revenue generating activities and in research and development activities, we allocate the amortization expense between cost of revenue and operating expenses. The finite-lived intangible assets are amortized using the straight-line method over their estimated useful lives.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three months ended March 31, 2025, we revised the estimated useful life of the developed technology acquired in the 2021 Omniome, Inc. ("Omniome") acquisition. This change reflects updated strategic plans and restructuring initiatives focused on accelerating HiFi sequencing adoption, leading to ceased development of our high-throughput short-read platform and revised expectations for the timing and amount of future cash flows from short-read sequencing products and services. As a result of the change in estimate, during the three months ended March 31, 2025, we recognized accelerated amortization of $359.3 million within amortization of acquired intangible assets in operating expenses, reflecting our revised estimate that the asset will no longer generate economic benefit beyond March 31, 2025. This expense had a negative impact on basic and diluted net loss per share of $1.21 for the three months ended March 31, 2025.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We review finite-lived intangible assets for impairment when indication of potential impairment exists, such as a significant reduction in cash flows associated with the assets. In the first quarter of 2025, as part of our interim goodwill impairment test, we also performed a recoverability test for the definite-lived asset group and noted no impairment.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 7, 2025, the Company entered into an agreement to acquire certain developed technology and related intellectual property from The Chinese University of Hong Kong for total consideration of $9.7 million. In addition, the Company entered into a license agreement for complementary developed technology during the three months ended March 31, 2025. Both the acquired technology and license are classified as intangible assets and are being amortized over an estimated useful life of three years.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Other Assets </span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the first quarter of 2026, the Company entered into a license and settlement agreement with Personal Genomics of Taiwan, Inc. (“PGI”). PGI had previously filed a suit against the Company for alleged patent infringement and related matters. Under the terms of the agreement, the parties agreed to dismiss all claims and counterclaims and to release one another from all claims arising out of the litigation (the "PGI Settlement"). In connection with the settlement, PGI granted the Company a non-exclusive, royalty-free, worldwide license to certain patents and patent applications and provided a covenant not to sue the Company and its affiliates for patent infringement for a specified period.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the fixed payment structure, the Company paid PGI $8,000,000 in the second quarter of 2026, and will pay $5,000,000 in the first quarter of each of 2027, 2028 and 2029, with the payment in 2027 increasing by $1,000,000 if the Company’s 2026 revenue is at least $165,000,000 and another $1,000,000 if it is at least $180,000,000. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounted for the transaction as a settlement of litigation combined with a license to patents. The total consideration was allocated on a relative fair value basis between (i) the license to the patents and (ii) the settlement of past and potential claims relating to the patents and associated with the litigation. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of the license was estimated using an income approach, specifically the relief-from-royalty method, which is based on the present value of hypothetical royalty payments avoided as a result of obtaining the license. The fair value of the settlement component was estimated using an income-based approach that considered a hypothetical royalty rate applied to historical revenues generated during the alleged infringement period. This valuation represents a level 3 fair value measurement due to its reliance on certain unobservable inputs. The determination of fair value involves estimates and assumptions, including projected future revenues attributable to the licensed patents, historical revenues generated during the alleged infringement period, an estimated royalty rate derived from comparable market transactions, and a discount rate applied to the projected cash flows. The royalty rate utilized in the valuation was 5%, the discount rate of 14.5% applied to the projected future revenues was based on the Company’s estimated weighted average cost of capital, considering market participant assumptions and risk factors specific to the asset, and the discount rate of 6.3% applied to the historical revenues was based on the Company's estimated cost of debt, considering market participant assumptions. The assumptions used were inherently subject to uncertainty.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The portion of the consideration allocated to the license of $5.5 million was capitalized and included in other long-term assets on the condensed consolidated balance sheets. The asset is being amortized on a straight-line basis over a period of approximately three years, which approximates the remaining economic life of the underlying patent rights. The remaining portion of the consideration was recorded as a litigation settlement charge. The Company recorded $0.5 million of settlement charges within cost of product revenue in the condensed consolidated statements of operations and $15.4 million of settlement charges within operating expenses in the condensed consolidated statements of operations and comprehensive loss.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recorded the liability at its present value of $21.4 million as of March 31, 2026. The liability will be accreted to its undiscounted amount using the effective interest method, resulting in an effective interest rate of 9.5%, with accretion recognized as interest expense in the condensed consolidated statements of operations. The liability for the settlement obligation is classified between current and non-current portions based on the timing of expected payments. As of March 31, 2026, $13.4 million is included in accrued expenses in the condensed consolidated balance sheets and $8.0 million is included in other liabilities, non-current in the condensed consolidated balance sheets.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Deferred Revenue</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2026, we had a total of $19.9 million of deferred revenue, $16.3 million of which was recorded as deferred revenue, current, and $3.6 million of which was recorded as deferred revenue, non-current, which primarily relates to deferred service contract revenues and is scheduled to be recognized in the next five years. Revenue recorded in the three months ended March 31, 2026 includes $5.0 million that was included in deferred revenue as of December 31, 2025.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Performance Obligations</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions or certain modifications at our discretion. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within a year of the contract execution date. As of March 31, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $46.6 million, of which approximately 78% is expected to be converted to revenue over the next twelve months, approximately 17% in the following twelve months, and the remainder thereafter.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Product Warranties</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We generally provide a one-year warranty on instruments. In addition, we provide a limited warranty on consumables. At the time revenue is recognized, an accrual is established for estimated warranty costs based on historical experience as well as anticipated product performance. We periodically review the warranty reserve for adequacy and adjust the warranty accrual, if necessary, based on actual experience and estimated costs to be incurred. Warranties are recorded as part of accrued expenses on the condensed consolidated balance sheets and warranty expense is recorded as a component of cost of product revenue in the condensed consolidated statements of operations and comprehensive loss. There were no material changes in estimates for the periods presented below.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in the reserve for product warranties were as follows for the periods indicated:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Balance at beginning of period</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,046 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,100 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions charged to cost of product revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,464 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,311 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Repairs and replacements</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,689)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,552)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Balance at end of period</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,821 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,859 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our inventory, net, consisted of the following components:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">March 31,<br/>2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Purchased materials</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">34,736 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">38,638 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Work in process</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">27,349 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">27,051 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finished goods</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">17,838 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,709 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 8.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Inventory, gross</span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">79,923 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">81,398 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 2.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Inventory reserve</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(28,901)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(32,113)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 8.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Inventory, net</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,022 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">49,285 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 34736000 38638000 27349000 27051000 17838000 15709000 79923000 81398000 28901000 32113000 51022000 49285000 0 55000000.0 40000000.0 0 15000000.0 0 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have the following acquired finite-lived intangible assets:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.960%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.596%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.163%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.056%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">As of March 31, 2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands, except years)</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Estimated<br/>Useful Life<br/>(in years)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross<br/>Carrying<br/>Amount</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated<br/>Amortization</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net<br/>Carrying<br/>Amount</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross<br/>Carrying<br/>Amount</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated<br/>Amortization</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net<br/>Carrying<br/>Amount</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Developed technology</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3 — 15</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,179 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(407,075)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,104 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,179 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(406,055)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,124 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Customer relationships</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">360 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(360)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">360 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(360)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 28pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,539 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(407,435)</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,104 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">421,539 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(406,415)</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,124 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> P3Y P15Y 421179000 407075000 14104000 421179000 406055000 15124000 P2Y 360000 360000 0 360000 360000 0 421539000 407435000 14104000 421539000 406415000 15124000 <div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated future amortization expense of intangible assets with finite lives is as follows:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Remainder of 2026</span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,059 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2027</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,079 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2028</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,301 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2029</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">745 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2030</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">745 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2031 and thereafter</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,175 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14,104 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 3059000 4079000 1301000 745000 745000 4175000 14104000 359300000 1.21 0 9700000 P3Y P3Y 8000000 5000000 5000000 5000000 1000000 165000000 1000000 180000000 0.05 0.145 0.063 5500000 500000 15400000 21400000 0.095 13400000 8000000.0 19900000 16300000 3600000 P5Y 5000000.0 46600000 0.78 P12M 0.17 P12M P1Y <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in the reserve for product warranties were as follows for the periods indicated:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Balance at beginning of period</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,046 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,100 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions charged to cost of product revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,464 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,311 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Repairs and replacements</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,689)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,552)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Balance at end of period</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,821 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,859 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 3046000 3100000 1464000 1311000 1689000 1552000 2821000 2859000 <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:49.5pt;text-align:justify;text-indent:-49.5pt"><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 4. CONVERTIBLE SENIOR NOTES</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2029 Convertible Senior Notes</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 7, 2024, we entered into an exchange agreement with SB Northstar LP (“SBN”), a subsidiary of SoftBank Group Corp., pursuant to which we agreed to exchange the remaining approximately $459.0 million in aggregate principal amount of our previously held 1.50% Convertible Senior Notes due 2028 (the “2028 Notes”) outstanding for (i) $200.0 million aggregate principal amount of 1.50% Convertible Senior Notes due 2029 (the “2029 Notes”), (ii) 20,451,570 shares of common stock (the “Exchange Shares”) and (iii) $50.0 million of cash (the “2024 Exchange Transaction”). The Exchange Shares were issued on November 21, 2024 (the “Closing Date”). The 2029 Notes, the Exchange Shares, and shares of common stock issuable upon conversion of the 2029 Notes were subject to certain lock-up restrictions for a six-month period (the “Lock-Up Period”) beginning on the Closing Date of the 2024 Exchange Transaction.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, on November 21, 2024, in connection with the issuance of the 2029 Notes, the Company and SBN entered into the Letter Agreement pursuant to which the Company and SBN agreed that, for so long as SBN and its affiliates hold at least $180 million aggregate principal amount of the 2029 Notes, the Company and its subsidiaries are subject to certain negative covenants that restrict the Company’s and its subsidiaries’ ability to incur additional indebtedness and create liens, in each case, subject to the exceptions set forth in the Letter Agreement, including exceptions which permit the Company to incur up to $75 million in aggregate principal amount of secured indebtedness pursuant to Credit Facilities (as defined in the Letter Agreement).</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the Letter Agreement restricts the ability of the Company and its subsidiaries from guaranteeing any indebtedness or incurring certain indebtedness outside of the ordinary course of business unless, in each case, the Company and its subsidiaries concurrently provide a guarantee of the Company’s obligations under the 2029 Notes.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon any conversion of the 2029 Notes, SBN will not be entitled to be issued a number of shares of the Company’s common stock which would cause SBN's beneficial ownership of common stock to exceed either 9.9% of the total number of issued and outstanding shares of common stock or 9.9% of the combined voting power of all of the securities of the Company, in each case, following such conversion.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2029 Notes are governed by an indenture (the “2029 Indenture”) between the Company and U.S. Bank Trust Company, National Association, as trustee. The 2029 Notes bear interest at a rate of 1.50% per annum. Interest on the 2029 Notes is payable semi-annually in arrears on February 15 and August 15, commencing on February 15, 2025. The 2029 Notes will mature on August 15, 2029, subject to earlier conversion, redemption or repurchase.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2029 Notes are convertible at the option of the holder at any time from the expiration of the Lock-Up Period until the second scheduled trading day prior to the maturity date, including in connection with a redemption by the Company. The 2029 Notes are convertible into shares of our common stock based on an initial conversion rate of 204.5157 shares of common stock per $1,000 principal amount of the 2029 Notes (which is equal to an initial conversion price of approximately $4.89 per share of common stock), in each case subject to customary anti-dilution and other adjustments as a result of certain extraordinary transactions. Upon conversion of the 2029 Notes, we may elect to settle such conversion obligation in cash, shares of our common stock, or a combination of cash and shares of our common stock.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On or after August 20, 2027, and prior to the 31st scheduled trading day immediately preceding the maturity date, the 2029 Notes will be redeemable by the Company in the event that the closing sale price of our common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide the redemption notice at a redemption price of 100% of the principal amount of such 2029 Notes, plus accrued and unpaid interest up to, but excluding, the redemption date.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon the occurrence of a Fundamental Change (as defined in the 2029 Indenture), the holders of the 2029 Notes may require that we repurchase all or part of the principal amount of the 2029 Notes at a purchase price of par plus unpaid interest up to, but excluding, the maturity date.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2029 Notes are subject to certain debt and lien covenants as well as springing guarantees, in each case, the terms of which are set forth in a second letter agreement between the Company and SBN entered into in connection with the Indenture.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2029 Indenture includes customary “events of default,” which may result in the acceleration of the maturity of the 2029 Notes under the 2029 Indenture. The 2029 Indenture also includes customary covenants for convertible notes of this type.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent we elect, the sole remedy for an event of default relating to our failure to comply with certain of our reporting obligations shall, for the first 360 calendar days after the occurrence of such an event of default, consist exclusively of the right to receive additional interest on the 2029 Notes at a rate equal to (i) 0.25% per annum of the principal amount of the 2029 Notes outstanding for each day during the first 180 calendar days of the 360-day period after the occurrence of such an event of default during which such event of default is continuing (or, if earlier, the date on which such event of default is cured or waived) and (ii) 0.50% per annum of the principal amount of the 2029 Notes outstanding for each day from, and including, the 181</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.47pt;font-weight:400;line-height:120%;position:relative;top:-3.48pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> calendar day to, and including, the 360</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.47pt;font-weight:400;line-height:120%;position:relative;top:-3.48pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> calendar day after the occurrence of such an event of default during which such event of default is continuing (or, if earlier, the date on which such event of default is cured or waived as provided for in the 2029 Indenture). On the 361</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.47pt;font-weight:400;line-height:120%;position:relative;top:-3.48pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> day after such event of default (if the event of default relating to our failure to comply with its obligations is not cured or waived prior to such 361</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.47pt;font-weight:400;line-height:120%;position:relative;top:-3.48pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> day), the 2029 Notes shall be subject to acceleration as provided for in the 2029 Indenture.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2029 Notes are accounted for in accordance with the authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. Under ASU 2020-06, the guidance requires that debt with an embedded conversion feature is accounted for in its entirety as a liability and no portion of the proceeds from the issuance of the convertible debt instrument is accounted for as attributable to the conversion feature unless the conversion feature is required to be accounted for separately as an embedded derivative or the conversion feature results in a substantial premium. The conversion feature of the 2029 Notes is not accounted for as an embedded derivative because it is considered to be indexed to our common stock, and the 2029 Notes were not issued at a substantial premium; therefore, the 2029 Notes are accounted for in their entirety as a liability. Because we may elect to settle any conversions entirely in shares, and because settlement in shares is the default settlement method, the liability is classified as non-current.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The requirement to repurchase the 2029 Notes, including unpaid interest to the maturity date in the event of a Fundamental Change, is considered a put option for certain periods requiring bifurcation under ASC 815 – </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Derivatives and Hedging.</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> However, given the low probability of such a Fundamental Change occurring during the applicable periods, the value of the embedded derivative is immaterial.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The additional interest feature in the event of our failure to comply with certain reporting obligations is also considered an embedded derivative requiring bifurcation under ASC 815. However, due to the nature and terms of the reporting obligations, the value of the embedded derivative is immaterial.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange qualified as a troubled debt restructuring under ASC 470-60 – </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Troubled Debt Restructurings by Debtors</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Since the undiscounted cash flows of the 2029 Notes were less than the carrying amount of the exchanged 2028 Notes, the carrying value of the 2029 Notes was determined based on the total undiscounted cash flows. As a result, no interest expense will be recognized for the 2029 Notes. The Company recorded a gain on debt restructuring of $154.4 million, which resulted in a decrease of basic net loss per share of $0.56, during the year ended December 31, 2024 in our consolidated statements of operations and comprehensive loss. The gain was calculated as the difference between the carrying amount of the old debt and the carrying amount of the new debt, adjusted for debt issuance costs. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We incurred issuance costs related to the 2029 Notes of approximately $3.1 million, including $0.2 million of lender fees, which were recorded as a reduction to the gain on debt restructuring in our condensed consolidated statements of operations and comprehensive loss. We also paid accrued but unpaid interest of $1.8 million on the 2028 Notes in connection with the 2024 Exchange Transaction.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We did not receive any cash proceeds from the 2024 Exchange Transaction. In exchange for issuing the 2029 Notes, Exchange Shares and paying $50.0 million of cash pursuant to the 2024 Exchange Transaction, we received and cancelled the exchanged 2028 Notes. Following the closing of the 2024 Exchange Transaction, no amounts were outstanding on the 2028 Notes.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying amount of the liability for the 2029 Notes as of March 31, 2026 is $210.5 million, of which $207.5 million is included as convertible senior notes, net, non-current, and $3.0 million is included as accrued expenses on our condensed consolidated balance sheets.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes to the 2029 Notes during the three months ended March 31, 2026 were as follows:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Carrying amount as of December 31, 2025</span></div></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">212,000 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Contractual interest expense</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,500)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Carrying amount as of March 31, 2026</span></div></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">210,500 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2026, the estimated fair value (Level 2) of the 2029 Notes was $171.1 million. The fair value of the 2029 Notes is estimated using a binomial lattice model that is primarily affected by the trading price of our common stock, market interest rates and volatility.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2030 Convertible Senior Notes</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2023, we entered into a privately negotiated exchange agreement with a holder of our outstanding 2028 Notes, pursuant to which we issued $441.0 million in aggregate principal amount of our 1.375% Convertible Senior Notes due 2030 (the “2030 Notes” and together with the 2029 Notes, the “Notes”) in exchange for $441.0 million principal amount of the 2028 Notes (the “2023 Exchange Transaction”), pursuant to exemptions from registration under the Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations thereunder. The 2030 Notes were issued on June 30, 2023.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2030 Notes are governed by an indenture (the “2030 Indenture”) between the Company and U.S. Bank Trust Company, National Association, as trustee. The 2030 Notes bear interest at a rate of 1.375% per annum. Interest on the 2030 Notes is payable semi-annually in arrears on June 15 and December 15, commencing on December 15, 2023. The 2030 Notes will mature on December 15, 2030, subject to earlier conversion, redemption or repurchase.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2030 Notes are convertible at the option of the holder at any time until the second scheduled trading day prior to the maturity date, including in connection with a redemption by the Company. The 2030 Notes are convertible into shares of our common stock based on an initial conversion rate of 46.5116 shares of common stock per $1,000 principal amount of the 2030 Notes (which is equal to an initial conversion price of approximately $21.50 per share of common stock), in each case subject to customary anti-dilution and other adjustments as a result of certain extraordinary transactions. Upon conversion of the 2030 Notes, we may elect to settle such conversion obligation in cash, shares of our common stock, or a combination of cash and shares of our common stock.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On or after June 20, 2028, and prior to the 31st scheduled trading day immediately preceding the maturity date, the 2030 Notes will be redeemable by the Company in the event that the closing sale price of our common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide the redemption notice at a redemption price of 100% of the principal amount of such 2030 Notes, plus accrued and unpaid interest up to, but excluding, the redemption date.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon the occurrence of a Fundamental Change (as defined in the 2030 Indenture), the holders of the 2030 Notes may require that we repurchase all or part of the principal amount of the 2030 Notes at a purchase price equal to 100% of the principal amount of the notes to be repurchased, plus any accrued and unpaid interest up to, but excluding, the fundamental change repurchase date, and all unpaid interest from the fundamental change repurchase date thereon, but excluding, the maturity date.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2030 Indenture includes customary “events of default,” which may result in the acceleration of the maturity of the 2030 Notes under the 2030 Indenture. The 2030 Indenture also includes customary covenants for convertible notes of this type.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent we elect, the sole remedy for an event of default relating to our failure to comply with certain of our reporting obligations shall, for the first 360 calendar days after the occurrence of such an event of default, consist exclusively of the right to receive additional interest on the 2030 Notes at a rate equal to (i) 0.25% per annum of the principal amount of the 2030 Notes outstanding for each day during the first 180 calendar days of the 360-day period after the occurrence of such an event of default during which such event of default is continuing (or, if earlier, the date on which such event of default is cured or waived) and (ii) 0.50% per annum of the principal amount of the 2030 Notes outstanding for each day from, and including, the 181</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> calendar day to, and including, the 360</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> calendar day after the occurrence of such an event of default during which such event </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of default is continuing (or, if earlier, the date on which such event of default is cured or waived as provided for in the 2030 Indenture). On the 361</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> day after such event of default (if the event of default relating to our failure to comply with its obligations is not cured or waived prior to such 361</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> day), the 2030 Notes shall be subject to acceleration as provided for in the 2030 Indenture.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2030 Notes are accounted for in accordance with the authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. Under ASU 2020-06, the guidance requires that debt with an embedded conversion feature is accounted for in its entirety as a liability and no portion of the proceeds from the issuance of the convertible debt instrument is accounted for as attributable to the conversion feature unless the conversion feature is required to be accounted for separately as an embedded derivative or the conversion feature results in a substantial premium. The conversion feature of the 2030 Notes is not accounted for as an embedded derivative because it is considered to be indexed to our common stock, and the 2030 Notes were not issued at a substantial premium; therefore, the 2030 Notes are accounted for in their entirety as a liability. Because we may elect to settle any conversions entirely in shares, and because settlement in shares is the default settlement method, the liability is classified as non-current.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The requirement to repurchase the 2030 Notes, including unpaid interest to the maturity date in the event of a Fundamental Change, is considered a put option for certain periods requiring bifurcation under ASC 815 – </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Derivatives and Hedging.</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> However, given the low probability of such a Fundamental Change occurring during the applicable periods, the value of the embedded derivative is immaterial.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The additional interest feature in the event of our failure to comply with certain reporting obligations is also considered an embedded derivative requiring bifurcation under ASC 815. However, due to the nature and terms of the reporting obligations, the value of the embedded derivative is immaterial.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We incurred issuance costs related to the 2030 Notes of approximately $7.3 million, which were recorded as debt issuance costs and are presented as a reduction to the 2030 Notes on our condensed consolidated balance sheets. The debt issuance costs are amortized to interest expense using the effective interest method over the term of the 2030 Notes, resulting in an effective interest rate of 1.6%.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We did not receive any cash proceeds from the 2023 Exchange Transaction. In exchange for issuing the 2030 Notes pursuant to the 2023 Exchange Transaction, we received and cancelled the exchanged 2028 Notes. Following the closing of the 2023 Exchange Transaction, $459.0 million in aggregate principal amount of 2028 Notes remained outstanding with terms unchanged.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The net carrying amount of the liability for the 2030 Notes is included as convertible senior notes, net, non-current in the condensed consolidated balance sheets as follows:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">March 31,<br/>2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Principal amount</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">441,000 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">441,000 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Unamortized debt premium</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">361 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">379 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Unamortized debt issuance costs</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4,754)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4,997)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net carrying amount</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">436,607 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">436,382 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense for the 2030 Notes was as follows:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Contractual interest expense</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,516 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,516 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of debt issuance costs</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">243 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">239 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total interest expense</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,759 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,755 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2026, the estimated fair value (Level 2) of the 2030 Notes was $313.2 million. The fair value of the 2030 Notes is estimated using a binomial lattice model that is primarily affected by the trading price of our common stock, market interest rates and volatility.</span></div> 459000000.0 0.0150 200000000.0 0.0150 20451570 50000000.0 P6M 180000000 75000000 0.099 0.099 0.0150 4.89 1.50 20 30 1 P360D 0.0025 P180D P360D 0.0050 P181D P360D P361D P361D 154400000 0.56 3100000 200000 1800000 50000000.0 0 210500000 207500000 3000000.0 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes to the 2029 Notes during the three months ended March 31, 2026 were as follows:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Carrying amount as of December 31, 2025</span></div></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">212,000 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Contractual interest expense</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,500)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Carrying amount as of March 31, 2026</span></div></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">210,500 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense for the 2030 Notes was as follows:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Contractual interest expense</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,516 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,516 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of debt issuance costs</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">243 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">239 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total interest expense</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,759 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,755 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 212000000 1500000 210500000 171100000 441000000.0 0.01375 441000000.0 0.01375 21.50 1.50 P20D P30D 1 1 P360D 0.0025 P180D P360D 0.0050 P181D P360D P361D P361D 7300000 0.016 459000000.0 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The net carrying amount of the liability for the 2030 Notes is included as convertible senior notes, net, non-current in the condensed consolidated balance sheets as follows:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">March 31,<br/>2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">December 31,<br/>2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Principal amount</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">441,000 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">441,000 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Unamortized debt premium</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">361 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">379 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Unamortized debt issuance costs</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4,754)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4,997)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net carrying amount</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">436,607 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">436,382 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 441000000 441000000 361000 379000 4754000 4997000 436607000 436382000 1516000 1516000 243000 239000 1759000 1755000 313200000 <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:49.5pt;text-align:justify;text-indent:-49.5pt"><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 5. RESTRUCTURING</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2025 Restructuring</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the first quarter of 2025, we implemented an expense reduction initiative aimed at lowering our annualized run-rate operating expenses. These actions, which included workforce reductions and other cost-saving measures, were part of a broader strategic shift to prioritize the adoption of HiFi sequencing.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of the pre-tax restructuring charges are as follows:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.687%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.172%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.175%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31, 2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cumulative amount incurred to date</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Employee separation costs</span></div></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,787 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other costs</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,076 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="-sec-ix-hidden:f-604"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total restructuring charges </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></span></div></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,863 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:31.5pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Cumulative charges incurred to date include $3.8 million in sales, general and administrative expense and $2.1 million in research and development expense.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Charges included employee separation costs comprised of approximately $2.5 million related to salaries, wages and other employee benefits paid to terminated employees pursuant to the Worker Adjustment and Retraining Notification (WARN) Act and approximately $2.3 million of severance costs.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Charges included in other costs are primarily related to legal expenses incurred in connection with employee separation matters.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the restructuring and strategic shift, we incurred an additional $389.9 million in costs. These include $359.3 million of accelerated amortization of certain intangible assets, $15.0 million of IPR&amp;D impairment charges, $8.1 million related to excess inventory due to decreased external demand and $3.9 million for estimated losses on purchase commitments tied to anticipated future excess inventory included in cost of revenue, and $3.1 million of accelerated depreciation of fixed assets. See </span><span style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic8e6485e3b024ccf824eb458fab2a8b0_37" style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Note 3. Balance Sheet Components</a></span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for additional information on the IPR&amp;D impairment assessment and the change in estimated useful life of the intangible asset and accelerated amortization.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of the liabilities related to the restructuring is as follows:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:81.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.113%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands, excluding non-cash activities)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other Costs</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amount recorded in current liabilities as of December 31, 2025</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">389 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash paid during YTD 2026</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(389)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amount recorded in current liabilities as of March 31, 2026</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Estimated total restructuring costs to still be incurred</span></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2024 Restructuring</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the second quarter of 2024, we implemented an expense reduction initiative that included workforce reductions, the closing of our San Diego office, and other actions to reduce annualized run-rate operating expenses. We recognized approximately $1 million of expense related to the 2024 restructuring during the three months ended March 31, 2026. See Note 6 – Restructuring in Part II, Item 8 of the 2025 Annual Report for information regarding the 2024 restructuring initiative.</span></div> <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of the pre-tax restructuring charges are as follows:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.687%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.172%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.175%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31, 2026</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cumulative amount incurred to date</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Employee separation costs</span></div></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,787 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other costs</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,076 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="-sec-ix-hidden:f-604"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total restructuring charges </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></span></div></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,863 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;padding-left:31.5pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Cumulative charges incurred to date include $3.8 million in sales, general and administrative expense and $2.1 million in research and development expense.</span></div> 0 4787000 0 1076000 0 5863000 3800000 2100000 2500000 2300000 389900000 359300000 15000000.0 8100000 3900000 3100000 <div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of the liabilities related to the restructuring is as follows:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:81.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.113%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands, excluding non-cash activities)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other Costs</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amount recorded in current liabilities as of December 31, 2025</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">389 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash paid during YTD 2026</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(389)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amount recorded in current liabilities as of March 31, 2026</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Estimated total restructuring costs to still be incurred</span></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 389000 389000 0 0 1000000 <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:49.5pt;text-align:justify;text-indent:-49.5pt"><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 6. COMMITMENTS AND CONTINGENCIES</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Leases</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has entered into various operating lease agreements, primarily relating to our corporate offices. See Note 7 – Commitments and Contingencies, subsection titled “Leases”, in Part II, Item 8 of the 2025 Annual Report for information regarding the Company’s maturity of lease liabilities under its lease agreements.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Contingencies</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We may become involved in legal proceedings, claims and assessments from time to time in the ordinary course of business. We accrue liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We do not believe that the ultimate outcome of any such pending matters is probable or reasonably estimable, or that these matters will have a material adverse effect on our business; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on us because of litigation and settlement costs, diversion of management resources, and other factors.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see subsection titled </span><span style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic8e6485e3b024ccf824eb458fab2a8b0_91" style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Legal Proceedings, in Part II, Item 1</a></span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of this Quarterly Report on Form 10-Q.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Indemnification</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to Delaware law and agreements entered into with each of our directors and officers, we may have obligations, under certain circumstances, to hold harmless and indemnify each of our directors and officers against losses suffered or incurred by the indemnified party in connection with their service to us, and judgements, fines, settlements and expenses related to claims arising against such directors and officers to the fullest extent permitted under Delaware law, our bylaws and our certificate of incorporation. We also enter and have entered into indemnification agreements with our directors and officers that may require us to indemnify them against liabilities that arise by reason of their status or service as directors or officers, except as prohibited by applicable law. In addition, we may have obligations to hold harmless and indemnify third parties involved with our fundraising efforts and their respective affiliates, directors, officers, employees, agents or other representatives against any and all losses, claims, damages and liabilities related to claims arising against such parties pursuant to the terms of agreements entered into between such third parties and us in connection with such fundraising efforts. To the extent that any such indemnification obligations apply to the lawsuits described above, any associated expenses incurred are included within the related accrued litigation expense amounts. No additional liability associated with such indemnification obligations has been recorded as of March 31, 2026 and December 31, 2025.</span></div> 0 0 <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:49.5pt;text-align:justify;text-indent:-49.5pt"><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 7. EQUITY PLANS AND SHARE-BASED COMPENSATION</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Equity Plans</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2026, the Company had share-based compensation awards outstanding under the 2020 Equity Incentive Plan (the “2020 Plan”), the 2020 Inducement Equity Incentive Plan (the “Inducement Plan”), the 2021 adopted Omniome Equity Incentive Plan of Pacific Biosciences of California, Inc. (the “Omniome Plan”) and the 2010 Employee Stock Purchase Plan, from which we issued equity awards and employee stock.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2026, we had 25.7 million shares remaining and available for future issuance under the 2020 Plan, Inducement Plan, and the Omniome Plan. Shares remaining and available for future issuance reflect shares that may become eligible to vest upon the achievement of maximum targets for certain equity awards.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Refer to </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 9 – Stockholders' Equity</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, in Part II, Item 8 of our 2025 Annual Report for more information on the Company's equity plans</span><span style="background-color:#ffffff;color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Stock Options</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes stock option activity for time-based awards:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">(shares in thousands)</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Number<br/>of shares</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Weighted<br/>average<br/>exercise price</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at December 31, 2025</span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,509</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6.40 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Granted </span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,854</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.69 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exercised </span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(47)</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.25 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Canceled</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(682)</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.79 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expired</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(304)</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8.89 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at March 31, 2026</span></td><td colspan="3" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,330</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5.14 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Restricted Stock Units ("RSU") and Performance Stock Units ("PSU")</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We grant RSUs for which the respective shares vest when the requisite service period is achieved. We granted PSUs during the first quarter of 2023 for which the number of shares issuable is based on performance relative to specified revenue targets and continued employment through the vesting period. The PSUs were issuable following the third year of the performance period. Maximum achievement of the revenue goal under the PSUs would result in up to 200% of the target number of shares subject to the PSUs to become eligible to vest, while not meeting the minimum achievement of the revenue goal under the PSUs would result in no shares subject to the PSUs becoming eligible to vest. The performance period ended on December 31, 2025. Because threshold levels of achievement were not met, the PSUs were forfeited based on the determination by the Board of Directors in the first quarter of 2026. The following table summarizes the time-based RSUs and PSUs activity: </span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.990%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.990%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Restricted Stock Units (RSU)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Performance Stock Units (PSU)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Weighted average grant date<br/>fair value</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">(shares in thousands)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">RSU</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">PSU</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at December 31, 2025</span></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">17,551 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">392 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.50 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9.43 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Granted</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,642 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.69 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(7,218)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.56 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Forfeited</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(749)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(392)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.56 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9.43 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at March 31, 2026</span></td><td colspan="2" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19,226 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.60 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Employee Stock Purchase Plan ("ESPP")</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares issued under our ESPP wer</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">e 1,266,217 and 1,752,417</span><span style="background-color:#ffffff;color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> durin</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">g the three months ended March 31, 2026 and 2025, respectively. In the first quarter of 2026, an additional 4.0 million shares were reserved under the ESPP. As of March 31, 2026, 17.9 million shares of our common stock remain avai</span><span style="background-color:#ffffff;color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">lable for issuance under our ESPP.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Share-based Compensation</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes share-based compensation expense:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cost of revenue</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">648 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,165 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Research and development </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(772)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,607 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sales, general and administrative</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,583 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,429 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total share-based compensation expense</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,459 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,201 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt dotted #df1995;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Determining Fair Value</span></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We estimate the fair value of stock options granted using the Black-Scholes valuation method and a single option award approach. When determining the current share prices underlying the stock options for calculating the grant-date fair value, we reference the observable market prices of our stock. This fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. The fair market value of RSUs and PSUs granted is the closing price of our shares on the date of grant and is generally recognized as compensation expense on a straight-line basis over the respective vesting period. For shares purchased under our ESPP, we estimate the grant-date fair value, and the resulting share-based compensation expense, using the Black-Scholes option-pricing model. We estimate forfeitures of stock options, RSUs and shares purchased under our ESPP which is utilized to determine the compensation expense to be recorded over the requisite service period.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">Expected Term - The expected term used in the Black-Scholes valuation method represents the period that the stock options are expected to be outstanding and is determined based on historical experience of similar awards, considering the contractual terms of the stock options and vesting schedules.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">Expected Volatility - The expected volatility used in the Black-Scholes valuation method is derived from the implied volatility related to our share price over the expected term.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">Expected Dividend - We have never paid dividends on our shares and, accordingly, the dividend yield percentage is zero for all periods.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">Risk-Free Interest Rate - The risk-free interest rate used in the Black-Scholes valuation method is the implied yield currently available on U.S. Treasury constant maturities issued with a term equivalent to the expected terms.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of employee stock options was estimated using the following assumptions:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.990%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.053%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected term in years</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.9</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.9</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected volatility </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> 96% — 97%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">95% — 96%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Risk-free interest rate </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> 3.48% — 3.73%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.92% — 4.29%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dividend yield </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average grant date fair value per share</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$1.24</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$0.91</span></td></tr></table></div><div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of shares to be issued under the ESPP was estimated using the following assumptions:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.990%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.053%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected term in years</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">0.5 — 2.0</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">0.5 — 2.0</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected volatility </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">97%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">113%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Risk-free interest rate </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.47% — 3.68%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.96% — 4.31%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dividend yield </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average grant date fair value per share</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$0.90</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$0.93</span></td></tr></table></div> 25700000 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes stock option activity for time-based awards:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">(shares in thousands)</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Number<br/>of shares</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Weighted<br/>average<br/>exercise price</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at December 31, 2025</span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,509</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6.40 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Granted </span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,854</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.69 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exercised </span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(47)</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.25 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Canceled</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(682)</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.79 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expired</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(304)</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8.89 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at March 31, 2026</span></td><td colspan="3" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,330</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5.14 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 15509000 6.40 5854000 1.69 47000 1.25 682000 2.79 304000 8.89 20330000 5.14 2 The following table summarizes the time-based RSUs and PSUs activity: <div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.990%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.990%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Restricted Stock Units (RSU)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Performance Stock Units (PSU)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Weighted average grant date<br/>fair value</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">(shares in thousands)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">RSU</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">PSU</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at December 31, 2025</span></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">17,551 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">392 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.50 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9.43 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Granted</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,642 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1.69 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(7,218)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.56 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Forfeited</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(749)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(392)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.56 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9.43 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Outstanding at March 31, 2026</span></td><td colspan="2" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19,226 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="2" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2.60 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 17551000 392000 3.50 9.43 9642000 0 1.69 0 7218000 0 3.56 0 749000 392000 2.56 9.43 19226000 0 2.60 0 1266217 1752417 4000000.0 17900000 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes share-based compensation expense:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cost of revenue</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">648 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1,165 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Research and development </span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(772)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,607 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sales, general and administrative</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,583 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,429 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total share-based compensation expense</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4,459 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,201 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 648000 1165000 -772000 2607000 4583000 5429000 4459000 9201000 0 0 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of employee stock options was estimated using the following assumptions:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.990%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.053%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected term in years</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.9</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4.9</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected volatility </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> 96% — 97%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">95% — 96%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Risk-free interest rate </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> 3.48% — 3.73%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.92% — 4.29%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dividend yield </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average grant date fair value per share</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$1.24</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$0.91</span></td></tr></table></div> P4Y10M24D P4Y10M24D 0.96 0.97 0.95 0.96 0.0348 0.0373 0.0392 0.0429 0 0 1.24 0.91 <div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of shares to be issued under the ESPP was estimated using the following assumptions:</span></div><div style="margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.990%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.053%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected term in years</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">0.5 — 2.0</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">0.5 — 2.0</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expected volatility </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">97%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">113%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Risk-free interest rate </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.47% — 3.68%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3.96% — 4.31%</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dividend yield </span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average grant date fair value per share</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$0.90</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$0.93</span></td></tr></table></div> P0Y6M P2Y P0Y6M P2Y 0.97 1.13 0.0347 0.0368 0.0396 0.0431 0 0 0.90 0.93 <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:49.5pt;text-align:justify;text-indent:-49.5pt"><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 8. NET LOSS PER SHARE</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed using the weighted-average number of shares of common stock outstanding and potential shares assuming the dilutive effect of the Notes, using the if-converted method, and outstanding equity awards using the treasury stock method.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the calculation of the basic and diluted net loss per share amounts presented in the condensed consolidated statements of operations and comprehensive loss:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands, except per share amounts)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Numerator:</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net loss</span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(8,275)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(426,075)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Denominator:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Basic</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:13.5pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average shares used in computing basic net loss per share</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">305,819</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">296,858</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Basic net loss per share</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.03)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1.44)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Diluted</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:13.5pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average shares used in computing diluted net loss per share</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">305,819</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">296,858</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Diluted net loss per share</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.03)</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1.44)</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following shares issuable upon conversion of the Notes and outstanding equity awards were excluded from the computation of diluted net loss per share for the periods presented because the effect of including such shares would have been antidilutive:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Shares issuable upon conversion of convertible senior notes</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">61,415</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">61,415</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Equity awards</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">45,219</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">47,133</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See </span><span style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic8e6485e3b024ccf824eb458fab2a8b0_52" style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Note 7. Equity Plans and Share-Based Compensation</a></span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for detailed information on equity awards.</span></div> <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the calculation of the basic and diluted net loss per share amounts presented in the condensed consolidated statements of operations and comprehensive loss:</span></div><div style="margin-top:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands, except per share amounts)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Numerator:</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net loss</span></td><td style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(8,275)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(426,075)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Denominator:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Basic</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:13.5pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average shares used in computing basic net loss per share</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">305,819</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">296,858</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Basic net loss per share</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.03)</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1.44)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e7f2f9;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Diluted</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:13.5pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average shares used in computing diluted net loss per share</span></div></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">305,819</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">296,858</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Diluted net loss per share</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.03)</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1.44)</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> -8275000 -426075000 305819000 296858000 -0.03 -1.44 305819000 296858000 -0.03 -1.44 <div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following shares issuable upon conversion of the Notes and outstanding equity awards were excluded from the computation of diluted net loss per share for the periods presented because the effect of including such shares would have been antidilutive:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Shares issuable upon conversion of convertible senior notes</span></div></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">61,415</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">61,415</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Equity awards</span></td><td colspan="3" style="background-color:#e7f2f9;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">45,219</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">47,133</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 61415000 61415000 45219000 47133000 <div style="margin-top:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1383c6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:49.5pt;text-align:justify;text-indent:-49.5pt"><span style="color:#ffffff;font-family:'Roboto',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NOTE 9. SEGMENT AND GEOGRAPHIC INFORMATION</span></div></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are organized as, and operate in, one reportable segment: the development, manufacturing, and marketing of integrated platforms for genetic analysis. Our chief operating decision-maker ("CODM") is our Chief Executive Officer. Our CODM reviews financial information presented on a consolidated basis for the purposes of evaluating financial performance and allocating resources.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On a regular basis, our CODM reviews:</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">total revenues by category</span></div><div style="margin-top:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">total expenses and expenses by function, including sales and marketing and general and administrative, which include depreciation and share-based compensation</span></div><div style="margin-top:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#df1995;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.41pt">net loss per share</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our assets are primarily located in the United States of America and not allocated to any specific region, and we do not measure the performance of geographic regions based upon asset-based metrics. Therefore, geographic information is presented only for revenue.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of the segment profit or loss, including significant segment expenses is as follows:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total revenue</span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,178 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,153 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Less:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cost of revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">24,337 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">38,524 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Research and development</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19,608 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">29,053 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sales and marketing</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,778 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,076 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">General and administrative</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,375 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,092 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment charges</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,000 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Settlement charges</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,400 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gain on disposal of assets</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(45,796)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Change in fair value of contingent consideration</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(18,700)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of acquired intangible assets</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">833 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">362,042 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other income, net</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">266 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,557 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income tax provision (benefit)</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">184 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(302)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Consolidated net loss</span></td><td colspan="2" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(8,275)</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(426,075)</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of our revenue by geographic location is as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Americas</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16,685 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16,303 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Europe, Middle East and Africa</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">10,769 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,240 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Asia-Pacific</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,724 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">11,610 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total revenue</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,178 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,153 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of our revenue by category is as follows: </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:1pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:1pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Instrument revenue</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,721 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">11,016 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Consumable revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">21,813 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,097 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Product revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">31,534 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">31,113 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Service and other revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,644 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6,040 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total revenue</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,178 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,153 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 1 <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of the segment profit or loss, including significant segment expenses is as follows:</span></div><div style="margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total revenue</span></td><td colspan="2" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,178 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,153 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Less:</span></td><td colspan="3" style="background-color:#e7f2f9;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cost of revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">24,337 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">38,524 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Research and development</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">19,608 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">29,053 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sales and marketing</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,778 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,076 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">General and administrative</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,375 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,092 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Impairment charges</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,000 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Settlement charges</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15,400 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gain on disposal of assets</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(45,796)</span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Change in fair value of contingent consideration</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(18,700)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of acquired intangible assets</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">833 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">362,042 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other income, net</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">266 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,557 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income tax provision (benefit)</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">184 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(302)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Consolidated net loss</span></td><td colspan="2" style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(8,275)</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(426,075)</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 37178000 37153000 24337000 38524000 19608000 29053000 15778000 20076000 15375000 20092000 0 15000000 15400000 0 45796000 0 0 -18700000 833000 362042000 266000 2557000 184000 -302000 -8275000 -426075000 <div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of our revenue by geographic location is as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Americas</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16,685 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16,303 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Europe, Middle East and Africa</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">10,769 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,240 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Asia-Pacific</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,724 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">11,610 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total revenue</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,178 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,153 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 16685000 16303000 10769000 9240000 9724000 11610000 37178000 37153000 <div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of our revenue by category is as follows: </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:1pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:1pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">(In thousands)</span></td><td colspan="3" style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Instrument revenue</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9,721 </span></td><td style="background-color:#e7f2f9;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">11,016 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Consumable revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">21,813 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">20,097 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Product revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">31,534 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">31,113 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Service and other revenue</span></td><td colspan="2" style="background-color:#e7f2f9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5,644 </span></td><td style="background-color:#e7f2f9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6,040 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total revenue</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#1383c6;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,178 </span></td><td style="background-color:#e7f2f9;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">37,153 </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 9721000 11016000 21813000 20097000 31534000 31113000 5644000 6040000 37178000 37153000 359300000 false false false false