v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company’s fair value measurements are classified and disclosed in one of the following three categories:
•Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
•Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability;
•Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).
The table below presents activity within Level 3 of the fair value hierarchy, our liabilities carried at fair value relating to the medac settlement, for the six months ended June 30, 2026:
Level 3
(In thousands)Contingent
liabilities
Balance at January 1, 2026$864 
Change due to liability payment(235)
Liability fair value adjustment— 
Total change in foreign exchange(19)
Balance at June 30, 2026$610 
Contingent liabilities are re-measured to fair value each reporting period using projected financial targets, discount rates, probabilities of payment, and projected payment dates.
Significant unobservable inputs in the valuation include:
•Probability of payment: 100%
•Discount rate: 3.75%
•Timing of expected payments: 1 - 2 years
Projected contingent payment amounts are discounted back to the current period using a discounted cash flow model. Projected financial targets are based on the Company’s most recent internal operational budgets and may take into consideration alternate scenarios that could result in more or less profitability for the respective service line. Increases or decreases in projected financial targets and probabilities of payment may result in significant changes in the fair value measurements. Increases in discount rates and the time to payment may result in lower fair value measurements. Increases or decreases in any of those inputs in isolation may result in immaterially lower or higher fair value measurement.
The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value as of June 30, 2026 and December 31, 2025 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value.
June 30, 2026
(In thousands)Quoted Prices in
Active Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Assets:
Money market funds$2 $— $— $2 
U.S. government agency bonds— 48,381 — 48,381 
Total Assets$2 $48,381 $— $48,383 
Liabilities:
Contingent Liability$— $— $610 $610 
Total Liabilities$— $— $610 $610 

December 31, 2025
(In thousands)Quoted Prices in
Active Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)		Total
Assets:
Money market funds$2 $— $— $2 
U.S. government agency bonds— 47,582 — 47,582 
Total Assets$2 $47,582 $— $47,584 
Liabilities:
Contingent Liability$— $— $864 $864 
Total Liabilities$— $— $864 $864