v3.26.1
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of assets and liabilities measured at fair value on a recurring basis

Fair Value Measurements Using

As of June 30, 2026 (unaudited)

Fair Value

  ​ ​ ​

Prices in active markets for identical assets (Level 1)

  ​ ​ ​

Significant other observable inputs
(Level 2)

  ​ ​ ​

Significant unobservable inputs
(Level 3)

Money Market Funds

$

185,896

$

185,896

$

$

ecosio Cash Earn-outs

67,000

67,000

ecosio Stock Earn-outs

7,000

7,000

Long-Term Investment

15,000

15,000

Fair Value Measurements Using

As of December 31, 2025

Fair Value

  ​ ​ ​

Prices in active markets for identical assets (Level 1)

  ​ ​ ​

Significant other observable inputs
(Level 2)

  ​ ​ ​

Significant unobservable inputs
(Level 3)

Money Market Funds

$

266,892

$

266,892

$

$

ecosio Cash Earn-outs

86,600

86,600

ecosio Stock Earn-outs

18,900

18,900

Long-Term Investment

15,000

15,000

Schedule of additional information on Cash and Stock Earn-outs

Maximum

Fair Value

Fair Value

Cash Earn-outs/ Period (unaudited)

Payout

June 30, 2026

December 31, 2025

Year 1 - December 1, 2024 - November 30, 2025

$

19,600

(2)

$

19,400

Year 2 - December 1, 2025 - November 30, 2026

30,625

29,400

28,600

Year 3 - December 1, 2026 - November 30, 2027

44,130

37,600

38,600

Total Cash Earn-outs

$

94,355

$

67,000

$

86,600

Maximum

Fair Value

Fair Value

Stock Earn-outs/ Period (unaudited)

Payout (1)

June 30, 2026

December 31, 2025

Year 1 - December 1, 2024 - November 30, 2025

$

12,000

(2)

$

6,500

Year 2 - December 1, 2025 - November 30, 2026

12,000

3,700

6,500

Year 3 - December 1, 2026 - November 30, 2027

11,000

3,300

5,900

Total Stock Earn-outs

$

35,000

$

7,000

$

18,900

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

(2) Not applicable as payment has been settled.

As of June 30, 2026

As of December 31, 2025

(unaudited)

Current (1)

Non-Current (2)

Current (1)

Non-Current (2)

Cash Earn-outs

$

29,400

$

37,600

$

19,400

$

67,200

Stock Earn-outs

3,700

3,300

6,500

12,400

Total

$

33,100

$

40,900

$

25,900

$

79,600

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

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

Changes in fair value of contingent consideration

ecosio

Kintsugi

Contingent Consideration

Long-Term

Cash Earn-outs

Stock Earn-outs

Investment

(unaudited)

(unaudited)

Balance, January 1, 2026

$

86,600

$

18,900

$

15,000

Fair value adjustments

(5,838)

Payments - Cash

(19,600)

Payments - Stock

(6,062)

Balance, June 30, 2026

$

67,000

$

7,000

$

15,000

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

June 30, 2026 (unaudited)

Liabilities

  ​ ​ ​

Fair Value

  ​ ​ ​

Valuation Technique

Unobservable Inputs

ecosio Contingent Consideration - Cash Earn-outs

$

67,000

Monte Carlo Simulation

Revenue volatility

30.0

%

Revenue discount rate

7.0

%

Term (in years)

1.2

ecosio Contingent Consideration - Stock Earn-outs

$

7,000

Monte Carlo Simulation

Revenue volatility

30.0

%

Revenue discount rate

7.0

%

Term (in years)

1.2

December 31, 2025

Liabilities

  ​ ​ ​

Fair Value

  ​ ​ ​

Valuation Technique

Unobservable Inputs

ecosio Contingent Consideration - Cash Earn-outs

$

86,600

Monte Carlo Simulation

Revenue volatility

21.0

%

Revenue discount rate

6.8

%

Term (in years)

2.2

ecosio Contingent Consideration - Stock Earn-outs

$

18,900

Monte Carlo Simulation

Revenue volatility

21.0

%

Revenue discount rate

6.8

%

Term (in years)

2.2