| Summary of Marketable Securities |
The following tables summarize the Company's marketable securities as of June 30, 2026 and December 31, 2025:
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June 30, 2026 |
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Amortized Cost |
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|
Gross unrealized gains |
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Gross unrealized losses |
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Estimated Fair Value |
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(Amounts in thousands) |
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Short-term investments: |
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|
|
|
|
|
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U.S. Treasury bills |
|
$ |
203,794 |
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|
$ |
— |
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|
$ |
(128 |
) |
|
$ |
203,666 |
|
Total |
|
$ |
203,794 |
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|
$ |
— |
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|
$ |
(128 |
) |
|
$ |
203,666 |
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December 31, 2025 |
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|
Amortized Cost |
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|
Gross unrealized gains |
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|
Gross unrealized losses |
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|
Estimated Fair Value |
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|
|
(Amounts in thousands) |
|
Short-term investments: |
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|
|
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|
|
|
|
|
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|
U.S. Treasury bills |
|
$ |
201,554 |
|
|
$ |
55 |
|
|
$ |
(2 |
) |
|
$ |
201,607 |
|
Total |
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$ |
201,554 |
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|
$ |
55 |
|
|
$ |
(2 |
) |
|
$ |
201,607 |
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|
| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of June 30, 2026 and December 31, 2025:
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June 30, 2026 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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(Amounts in thousands) |
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Assets: |
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|
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Cash and cash equivalents: |
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Cash (1) |
|
$ |
109,761 |
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$ |
— |
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|
$ |
— |
|
|
$ |
109,761 |
|
Money market accounts |
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|
497,022 |
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|
|
— |
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|
|
— |
|
|
|
497,022 |
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Total |
|
$ |
606,783 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
606,783 |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury bills |
|
$ |
— |
|
|
$ |
203,666 |
|
|
$ |
— |
|
|
$ |
203,666 |
|
Total |
|
$ |
— |
|
|
$ |
203,666 |
|
|
$ |
— |
|
|
$ |
203,666 |
|
Total assets |
|
$ |
606,783 |
|
|
$ |
203,666 |
|
|
$ |
— |
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|
$ |
810,449 |
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Liabilities: |
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|
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Contingent consideration |
|
$ |
— |
|
|
$ |
3,025 |
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|
$ |
— |
|
|
$ |
3,025 |
|
Noncurrent contingent consideration |
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|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total liabilities |
|
$ |
— |
|
|
$ |
3,025 |
|
|
$ |
— |
|
|
$ |
3,025 |
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December 31, 2025 |
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Level 1 |
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|
Level 2 |
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Level 3 |
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Total |
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(Amounts in thousands) |
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Assets: |
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|
|
|
|
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|
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|
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Cash and cash equivalents: |
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Cash (1) |
|
$ |
88,148 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
88,148 |
|
Money market accounts |
|
|
477,873 |
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|
|
— |
|
|
|
— |
|
|
|
477,873 |
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Total |
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|
566,021 |
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|
|
— |
|
|
|
— |
|
|
|
566,021 |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury bills |
|
|
— |
|
|
|
201,607 |
|
|
|
— |
|
|
|
201,607 |
|
Total |
|
$ |
— |
|
|
$ |
201,607 |
|
|
$ |
— |
|
|
$ |
201,607 |
|
Total assets |
|
$ |
566,021 |
|
|
$ |
201,607 |
|
|
$ |
— |
|
|
$ |
767,628 |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
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Contingent consideration |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,049 |
|
|
$ |
5,049 |
|
Noncurrent contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
1,304 |
|
|
|
1,304 |
|
Total liabilities |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,353 |
|
|
$ |
6,353 |
|
(1) Cash and cash equivalents are recorded at carrying value, which approximate fair value.
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| Schedule of Reconciliation of the Change in the Fair Value of Contingent Consideration - Earnout |
A reconciliation of the change in fair value of contingent consideration – earnout is included in the following table (amounts in thousands):
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Balance at December 31, 2025 |
|
$ |
6,353 |
|
Increase in fair value of contingent consideration earnouts |
|
|
2,162 |
|
Earnout payment - cash |
|
|
(5,225 |
) |
Cumulative translation adjustment |
|
|
(265 |
) |
Balance at June 30, 2026 |
|
$ |
3,025 |
|
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