v3.26.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis
The following tables present the Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2026 and December 31, 2025 (in thousands):
Measured at Fair Value as of September 30, 2026
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents
Money market funds$58,038 $— $— $58,038 
Short-term investments
U.S. Government obligations— 3,043 — 3,043 
Total short-term investments— 3,043 — 3,043 
Total financial assets$58,038 $3,043 $— $61,081 
Financial Liabilities:
Foreign exchange contracts$— $252 $— $252 
Contingent consideration— — 3,840 3,840 
Total financial liabilities$— $252 $3,840 $4,092 
Measured at Fair Value as of December 31, 2025
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents
Money market funds$34,857 $— $— $34,857 
Foreign exchange contracts— 342 — 342 
Short-term investments
Corporate bonds— 4,850 — 4,850 
U.S. Government obligations— 19,842 — 19,842 
Total short-term investments— 24,692 — 24,692 
Total financial assets$34,857 $25,034 $— $59,891 
Financial Liabilities:
Foreign exchange contracts$— $425 $— $425 
Contingent consideration— — 2,046 2,046 
Total financial liabilities$— $425 $2,046 $2,471 
Schedule of Unobservable Inputs Incorporated into the Valuation of Contingent Consideration The following table presents the unobservable inputs incorporated into the fair value of the contingent consideration liability as of September 30, 2026.
September 30, 2026December 31, 2025
Discount rate6.6%6.6%
Probability of successful achievement (a)
37 %-42%15 %-37%
(a)Probability of successful achievement was set at different targets based on the Company’s estimates on achieving them. The weighted average probability of successful achievement was 38.4% as of September 30, 2026.
Summary of Changes in the Carrying Value of the Contingent Consideration The following table summarizes the changes in the carrying value of the contingent consideration for the periods presented (in thousands):
Nine Months Ended September 30,
20262025
Beginning balance$2,046 $5,094 
Additions— 3,107 
Change in fair value1,794 (1,223)
Contingent consideration paid (a)
— (4,213)
Foreign currency translation adjustment— (41)
Ending balance$3,840 $2,724 
(a)Contingent consideration when paid is bifurcated between the financing and operating sections of the condensed consolidated statement of cash flows. Amounts paid up to the fair value initially recorded in purchase accounting is reported in the financing section of the condensed consolidated statement of cash flows, while any excess is reported in the operating section of the condensed consolidated statement of cash flows.