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Fair Value Disclosures (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Measured At Fair Value On a Recurring Basis

The following table represents the fair value of the financial instruments measured at fair value on a recurring basis:

 

 

 

As of December 31, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

352,230

 

 

$

 

 

$

 

 

$

352,230

 

Total assets measured at fair value

 

$

352,230

 

 

$

 

 

$

 

 

$

352,230

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

41,864

 

 

$

41,864

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

41,864

 

 

$

41,864

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

113,271

 

 

$

 

 

$

 

 

$

113,271

 

Total assets measured at fair value

 

$

113,271

 

 

$

 

 

$

 

 

$

113,271

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

20,294

 

 

$

20,294

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

20,294

 

 

$

20,294

 

* Includes cash invested by the Company in money market accounts with certain financial institutions.

Summary of Reconciliations of Changes In The Fair Value of The Liabilities

The following table reconciles the changes in the fair value of the liabilities categorized within Level 3 of the fair value hierarchy for the years ended December 31, 2024 and 2023:

 

 

 

Acquisition-
related
liabilities

 

Balance as of January 1, 2023

 

$

32,675

 

Additions

 

 

1,139

 

Payments made during the year

 

 

(20,570

)

Change in fair value of earn-out

 

 

7,050

 

Balance as of December 31, 2023

 

$

20,294

 

Additions

 

 

31,248

 

Payments made during the year

 

 

(8,699

)

Change in fair value of earn-out

 

 

(979

)

Balance as of December 31, 2024

 

$

41,864