Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2026

Fair Values of Financial Instruments Measured On Recurring Basis

The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands):


September 30, 2026	Level 1		Level 2		Level 3		Fair Value		Carrying Value
Assets:
Cash equivalents:
Money market and other funds	$	957,927	$	—	$	—	$	957,927	$	957,927



Total assets measured at fair value	$	957,927	$	—	$	—	$	957,927	$	957,927


December 31, 2025	Level 1		Level 2		Level 3		Fair Value		Carrying Value
Assets:
Cash equivalents:
Money market and other funds	$	86,657	$	—	$	—	$	86,657	$	86,657


Total assets measured at fair value	$	86,657	$	—	$	—	$	86,657	$	86,657

Liabilities:
Contingent consideration	$	—	$	—	$	6,837	$	6,837	$	6,837
Total liabilities measured at fair value	$	—	$	—	$	6,837	$	6,837	$	6,837

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents a reconciliation of the Company’s Level 3 financial assets related to our contingent consideration arrangements and investment in corporate debt security that are measured at fair value on a recurring basis (in thousands):


	Nine months ended September 30,
	2026				2025
	Contingent Consideration Arrangements		Corporate Debt Security		Contingent Consideration Arrangements		Corporate Debt Security
Balance as of January 1	$	6,837	$	—	$	2,834	$	17,788
Fair value at date of acquisition	—		—		6,865		—
Fair value adjustments (1)	124		—		(2,834)		(17,788)
Payments	(6,959)		—		—		—
Foreign currency translation adjustment	(2)		—		(97)		—
Balance as of September 30	$	—	$	—	$	6,768	$	—

(1)During the nine months ended September 30, 2026 and 2025, the fair value adjustments to the contingent consideration arrangements in the table above were recorded within ‘General, administrative, and other related costs’ in the Condensed Consolidated Statements of Operations and relate to changes in the expected payout against financial targets.

Schedule of Carrying and Fair Values

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes (in thousands):


	September 30, 2026				December 31, 2025
	Carrying Value		Fair Value		Carrying Value		Fair Value
4.625% Senior Notes	$	457,985	$	419,785	$	457,645	$	434,736
1.75% Convertible Notes	$	149,065	$	148,513	$	148,685	$	145,381
3.625% Convertible Notes	$	261,169	$	267,949	$	260,170	$	256,568

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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