v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Schedule of assets and liabilities that are measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis (in thousands):

Fair Value Measurements at June 30, 2026 Using:

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Assets:

 

  ​

 

  ​

 

  ​

 

  ​

Cash equivalents - Money market funds

$

14,912

$

$

$

14,912

Marketable securities - U.S. Treasury securities due in 3 to 12 months

33,528

33,528

Marketable securities - agency bond due in 3 to 12 months

4,984

4,984

Total assets measured at fair value

 

$

14,912

 

$

38,512

 

$

 

$

53,424

Other current liabilities:

Holdback shares - NIRLAB acquisition

$

260

$

$

$

260

Acquisition-related contingent consideration

27,957

27,957

$

260

 

$

 

$

27,957

 

$

28,217

Other long-term liabilities:

Acquisition-related contingent consideration

5,860

5,860

Total liabilities measured at fair value

$

260

$

$

33,817

$

34,077

Fair Value Measurements at December 31, 2025 Using:

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Assets:

 

  ​

 

  ​

 

  ​

 

  ​

Cash equivalents - Money market funds

$

30,040

$

$

$

30,040

Marketable securities - U.S. Treasury securities due in 3 to 12 months

42,453

42,453

Total assets measured at fair value

 

$

30,040

 

$

42,453

 

$

 

$

72,493

Other current liabilities:

Acquisition-related contingent consideration

16,025

16,025

Total liabilities measured at fair value

$

$

$

16,025

$

16,025

Schedule of change in fair value of liabilities

The following table provides a roll-forward of the fair value of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs (in thousands):

Balance as of December 31, 2025

$

16,025

Contingent consideration - NIRLAB acquisition

4,969

Increase in fair value of contingent consideration earnouts - NIRLAB

890

Increase in fair value of contingent consideration earnouts - RedWave

11,933

Balance as of June 30, 2026

$

33,817