v3.26.1
Financial Instruments and Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Financial Instruments and Fair Value Measurements Financial Instruments and Fair Value Measurements
Recurring Fair Value Measurements

The following table presents assets and liabilities measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025:
June 30, 2026
December 31, 2025
(In thousands)
Level 2
Level 3
Measured at NAV
Total
Level 2
Level 3
Measured at NAV
Total
Financial assets:
Debt securities AFS
$4,236 $— $— $4,236 $3,202 $— $— $3,202 
Equity securities
— — 6,144 6,144 — — 5,849 5,849 
Interest rate swaps
1,990 — — 1,990 — — — — 
Financial liabilities:
Interest rate swaps
843 — — 843 5,225 — — 5,225 

Debt Securities Available for Sale ("AFS")

Costa Rica government obligations are held by a trust in the Costa Rica National Bank as a collateral requirement for settlement activities. The Company may substitute securities as needed but must maintain certain levels of collateral based on transaction volumes. The Company purchased debt securities amounting to $0.9 million during the six month period ended June 30, 2026, and $0.6 million for the corresponding period in 2025. Debt securities amounting to $1.0 million matured during the six month period ended June 30, 2025, none matured for the corresponding period in 2026. No debt securities were sold during the six month periods ended June 30, 2026 or 2025. A provision for credit losses was not required for either June 30, 2026 or 2025.

The fair value of debt securities is estimated based on observable inputs through corroboration with market data at the measurement date, therefore classified as a Level 2 asset within the fair value hierarchy.

Interest rate swaps

The fair value of the Company's interest rate swaps are estimated using Level 2 inputs under the fair value hierarchy. Refer to Note 6 - Debt and Short-term Borrowings for additional information related to the derivative instruments.

Equity Securities Measured at Net Asset Value (NAV)

At June 30, 2026 and December 31, 2025, the Company holds mutual funds classified as equity securities on the Company's unaudited condensed consolidated balance sheet that are measured at fair value using the NAV per share, or its equivalent, as a practical expedient. Mutual funds consist of investments in venture capital strategies and start-ups with a focus on privately held technology companies. The NAV is based on the fair value of the underlying net assets owned by the mutual funds and the relative interest of each participating investor in the fair value of the underlying assets.

Financial assets and liabilities not measured at fair value

The following table presents the carrying value and estimated fair value for financial instruments at June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
(In thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Financial liabilities:
2027 Term A Loan Facility$392,350 $392,327 $403,770 $405,737 
2030 Term B Loan Facility$857,932 $871,719 $673,127 $690,000 
Revolving Facility$35,000 $35,000 $10,000 $10,000 
The fair value of the term loans and the revolving facility at June 30, 2026 and December 31, 2025 was obtained using prices provided by third party service providers. Their pricing is based on various inputs such as market quotes, recent trading activity in a non-active market or imputed prices. These inputs are considered Level 3 inputs under the fair value hierarchy. Also, the pricing may include the use of an algorithm that could take into account movements in the general high yield market, among other variants. The secured term loans are not accounted for at fair value in the balance sheet.