Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Measurements

Schedule of fair value hierarchy

The carrying values of our assets that are required to be measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
March 31, 2026
Assets:
Money market mutual fund	$	230,714	$	—	$	—	$	230,714
Mutual funds		98,120		—		—		98,120
U.S. Treasury notes		9,908		—		—		9,908
Corporate debt securities		22,694		—		—		22,694
	$	361,436	$	—	$	—	$	361,436
Liabilities:
Convertible Senior Notes	$	—	$	185,390	$	—	$	185,390
Contingent consideration		—		—		630		630
	$	—	$	185,390	$	630	$	186,020

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
December 31, 2025
Assets:
Money market mutual fund	$	208,124	$	—	$	—	$	208,124
Mutual funds		99,182		—		—		99,182
U.S. Treasury notes		19,838		—		—		19,838
Corporate debt securities		41,694		—		—		41,694
	$	368,838	$	—	$	—	$	368,838
Liabilities:
Convertible Senior Notes	$	—	$	185,094	$	—	$	185,094
Contingent consideration		—		—		629		629
	$	—	$	185,094	$	629	$	185,723

Schedule of estimated fair values and the carrying values

The following table presents the estimated fair values and the carrying values (in thousands):

	March 31, 2026				December 31, 2025
	Carrying Value		Fair Value		Carrying Value		Fair Value
2026 Convertible Senior Notes	$	185,390	$	178,470	$	185,094	$	176,579

Schedule of gains recognized in earnings and the change in net assets related to the contingent consideration

The gains recognized in earnings and the change in net assets related to the contingent consideration at March 31, 2026 were as follows (in thousands):

	Fair Value		Gains		Foreign		Fair Value
	December 31,		recognized in		currency		March 31,
	2025		earnings		adjustment		2026
2022 Acquisitions	$	629	$	15	$	(14)	$	630