v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured on Recurring Basis
The following table represents the fair value hierarchy for the Company’s financial assets and financial liabilities measured at fair value on a recurring basis:
June 30, 2026December 31, 2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
(in thousands)
Financial Assets:
Cash, cash equivalents and restricted cash (1)
$1,091,502 $— $— $1,091,502 $1,076,140 $— $— $1,076,140 
Warrants— — 19,987 19,987 — — 12,659 12,659 
Total financial assets$1,091,502 $— $19,987 $1,111,489 $1,076,140 $— $12,659 $1,088,799 
Financial Liabilities:
Contingent consideration(2)
$— $— $120,505 $120,505 $— $— $118,360 $118,360 
Total financial liabilities$— $— $120,505 $120,505 $— $— $118,360 $118,360 
(1)Cash equivalents includes money market deposits and liquid demand deposits.
(2)As of June 30, 2026, contingent consideration includes $22.8 million classified as current and $97.7 million classified as non-current. As of December 31, 2025, contingent consideration includes $21.6 million classified as current and $96.8 million classified as non-current.
Schedule of Reconciliation of Contingent Consideration
The following table provides a reconciliation of the beginning and ending balances of contingent consideration:

Three Months EndedSix Months Ended
June 30, 2026
(in thousands)
Beginning balance$125,554 $118,360 
Changes in fair value(1)
(5,570)550 
Post-combination vesting(2)
521 1,595 
Total$120,505 $120,505 
(1) The changes in fair value of the contingent consideration liability were recorded in selling, general and administrative expenses in the condensed consolidated statement of operations and comprehensive loss.

(2) Post-combination vesting was recorded to stock-based compensation expense and classified in the condensed consolidated statement of operations and comprehensive loss based on the underlying employees' functional categories.