v3.26.1
Subsequent Event
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
On May 08, 2026, the Company completed the sale of its global medical writing and related regulatory services business to Veristat, LLC. The transaction included cash consideration of $85,000, subject to customary post-closing adjustments, as well as an additional $15,000 placed in escrow, which would be released to the Company upon satisfaction of certain post‑closing conditions. The Company is also eligible to receive cash earn-out of up to $35,000 based on the financial performance (as defined in the purchase agreement) of such business over a specified period following closing. The Company currently expects to recognize a loss on the transaction ranging from approximately $28,891 to $53,658. The actual loss recognized may differ from this estimate due to final working capital adjustments, the determination of fair value measurements, and the settlement of the earn-out.
In connection with the transaction, the Company entered into a transition services agreement pursuant to which it will provide certain services, including information technology and other administrative functions, for a defined period following closing.