Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Measurements

Schedule of assets and liabilities measured at fair value on a recurring basis

The following table summarizes the carrying amount and estimated fair value of the Company’s financial instruments as of March 31, 2025 and December 31, 2024 (in thousands):

	As of March 31, 2025
	Carrying		Fair		Fair Value Measurements
	Amount		Value		Level 1		Level 2		Level 3
Liabilities
6.00% Convertible Debenture	$	108,650	$	108,650	$	—	$	—	$	108,650
Contingent consideration		43,379		43,379		—		—		43,379

	As of December 31, 2024
	Carrying		Fair		Fair Value Measurements
	Amount		Value		Level 1		Level 2		Level 3
Liabilities
6.00% Convertible Debenture	$	173,150	$	173,150	$	—	$	—	$	173,150
Contingent consideration		60,746		60,746		—		—		60,746

Schedule of assets and liabilities measured at fair value on a recurring basis that have unobservable inputs

In the unaudited interim condensed consolidated balance sheets, contingent consideration was recorded in the contingent consideration, loss accrual for service contracts, and other current liabilities and contingent consideration, loss accrual for service contracts, and other liabilities financial statement line items and was comprised of the following unobservable inputs as of March 31, 2025:

Financial Instrument	Fair Value		Valuation Technique	Unobservable Input	Range (weighted average)
Contingent consideration	$	43,379	Scenario-based method	Credit spread	13.22%
				Discount rate	17.03% - 17.38%
		43,379

In the unaudited interim condensed consolidated balance sheets, contingent consideration was recorded in the contingent consideration, loss accrual for service contracts, and other current liabilities and contingent consideration, loss accrual for service contracts, and other liabilities financial statement line items and was comprised of the following unobservable inputs as of December 31, 2024:

Financial Instrument	Fair Value		Valuation Technique	Unobservable Input	Range (weighted average)
Contingent consideration	$	60,746	Scenario-based method	Credit spread	11.83%
				Discount rate	15.91% - 16.00%
		60,746

Schedule of activity in the level 3 liabilities

The change in the carrying amount of contingent consideration for the three months ended March 31, 2025 was as follows (in thousands):

	Three months ended
	March 31, 2025
Beginning balance as of December 31, 2024	$	60,746
Cash payments		(6,024)
Change in fair value of contingent consideration		(11,819)
Foreign currency translation adjustment		476
Ending balance as of March 31, 2025	$	43,379