v3.26.1
Fair Value Disclosures (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Measured At Fair Value On a Recurring Basis

The following table represents the fair value of the financial instruments measured at fair value on a recurring basis:

 

 

 

As of June 30, 2026

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

265,763

 

 

$

 

 

$

 

 

$

265,763

 

Total assets measured at fair value

 

$

265,763

 

 

$

 

 

$

 

 

$

265,763

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

50,905

 

 

$

50,905

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

50,905

 

 

$

50,905

 

 

 

As of December 31, 2025

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

275,401

 

 

$

 

 

$

 

 

$

275,401

 

Total assets measured at fair value

 

$

275,401

 

 

$

 

 

$

 

 

$

275,401

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

188,483

 

 

$

188,483

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

188,483

 

 

$

188,483

 

 

*Includes cash invested by the Company in money market accounts with certain financial institutions.

Summary of Reconciliations of Changes In The Fair Value of The Liabilities

The following table reconciles the changes in the fair value of the liabilities categorized within Level 3 of the fair value hierarchy for the three and six months ended June 30, 2026 and 2025:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Balance, beginning of period

 

$

70,176

 

 

$

37,461

 

 

$

188,483

 

 

$

41,864

 

Payments made during the period

 

 

(26,920

)

 

 

(4,005

)

 

 

(140,483

)

 

 

(11,868

)

Change in fair value

 

 

7,649

 

 

 

5,705

 

 

 

2,905

 

 

 

9,165

 

Balance, end of period

 

$

50,905

 

 

$

39,161

 

 

$

50,905

 

 

$

39,161