v3.26.3
Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of fair value of financial instruments measured on a recurring basis

The fair value of financial instruments measured on a recurring basis is as follows:

 

 

September 30, 2026

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents - money market funds

 

$

156,950

 

 

$

—

 

 

$

—

 

 

$

156,950

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

—

 

 

$

—

 

 

$

74,835

 

 

$

74,835

 

 

 

 

December 31, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents - money market funds

 

$

173,111

 

 

$

—

 

 

$

—

 

 

$

173,111

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

—

 

 

$

—

 

 

$

87,552

 

 

$

87,552

 

Schedule of changes in fair value of contingent consideration liabilities

The fair value of the contingent consideration liabilities is marked-to-market at each reporting period and was remeasured at September 30, 2026. Changes in fair value of the contingent consideration liabilities as of September 30, 2026 are as follows:

 

 

Contingent consideration

 

Balance at December 31, 2025

 

$

87,552

 

Adjustment to fair value

 

 

(3,286

)

Payments

 

 

(9,431

)

Balance at September 30, 2026 (Level 3)

 

$

74,835

 

 

Schedule of fair value measurements of contingent consideration recurring include significant unobservable inputs

The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs:

 

 

 

 

 

 

As of September 30, 2026

 

As of December 31, 2025

 

 

Valuation methodology

 

Significant unobservable input

 

Weighted average (range, if applicable)

 

Weighted average (range, if applicable)

Contingent consideration

 

Probability weighted income approach

 

Discount rate

 

20.2%

 

14.9%

 

 

 

 

Revenue discount rate

 

17.6% - 20.6%

 

17.2% - 20.2%