v3.26.3
CASH, CONCENTRATION OF CREDIT RISK AND FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of cash and cash equivalents The following table provides a reconciliation of total cash, cash equivalents, and restricted cash as of September 30, 2026, December 31, 2025, and September 30, 2025 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands):
September 30,December 31,September 30,
202620252025
Cash and cash equivalents$639,193 $738,960 $840,270 
Restricted cash included within prepaid and other current assets7,508 15,308 8,360 
Total cash, cash equivalents, and restricted cash
$646,701 $754,268 $848,630 
Schedule of restricted cash and cash equivalents The following table provides a reconciliation of total cash, cash equivalents, and restricted cash as of September 30, 2026, December 31, 2025, and September 30, 2025 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands):
September 30,December 31,September 30,
202620252025
Cash and cash equivalents$639,193 $738,960 $840,270 
Restricted cash included within prepaid and other current assets7,508 15,308 8,360 
Total cash, cash equivalents, and restricted cash
$646,701 $754,268 $848,630 
Schedule of fair value on a recurring basis Our financial assets and liabilities that are accounted for at fair value on a recurring basis are presented in the tables below as of September 30, 2026 and December 31, 2025 (in thousands):
Fair Value as of September 30, 2026
Level 1Level 2Level 3Total
Assets:
Money market and demand accounts (1)
$628,509 $— $— $628,509 
Commercial paper (2)
— 164,865 — 164,865 
U.S. government securities— 120,903 — 120,903 
Corporate bonds, asset backed and other securities
— 215,834 — 215,834 
  Total$628,509 $501,602 $— $1,130,111 
Fair Value as of December 31, 2025
Level 1Level 2Level 3Total
Assets:
Money market and demand accounts (1)
$745,024 $— $— $745,024 
Commercial paper
— 121,361 — 121,361 
U.S. government securities— 240,556 — 240,556 
Corporate bonds, asset backed and other securities (3)
— 151,527 — 151,527 
  Total$745,024 $513,444 $— $1,258,468 
______________________________
(1) Primarily included within cash and cash equivalents.
(2) As of September 30, 2026, $18.2 million of commercial paper was included within cash and cash equivalents.
(3) As of December 31, 2025, $9.2 million of corporate bonds, asset backed and other securities was included within cash and cash equivalents.
Schedule of aggregate fair value
The principal amount, carrying value and related estimated fair value of the Company's convertible notes (the "Convertible Notes") reported as of September 30, 2026 and December 31, 2025, were as follows (in thousands). The aggregate fair value of the principal amount of the Convertible Notes is a Level 2 fair value measurement.
September 30, 2026December 31, 2025
Principal
Amount		Carrying
Value		Fair
Value		Principal
Amount		Carrying
Value		Fair
Value
2027 Senior Convertible Long-Term Debt$296,740 $295,750 $1,256,724 $459,986 $456,786 $1,905,819 
The aggregate fair value of the Technicolor Patent Acquisition long-term debt is a Level 3 fair value measurement.
September 30, 2026December 31, 2025
Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Technicolor Patent Acquisition Long-Term Debt$11,238 $10,230 $17,882 $18,178