Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of March 31, 2025 and December 31, 2024 (amounts in thousands):

	As of March 31, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Money market accounts	$	591,353	$	—	$	—	$	591,353
Liabilities:
Foreign exchange forward contracts	$	—	$	8,188	$	—	$	8,188
Current contingent consideration	$	—	$	17,126	$	16,739	$	33,865
Noncurrent contingent consideration	$	—	$	—	$	4,903	$	4,903
	As of December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market accounts	$	687,253	$	—	$	—	$	687,253
Foreign exchange forward contracts	$	—	$	287	$	—	$	287
Liabilities:
Current contingent consideration	$	—	$	17,126	$	—	$	17,126
Noncurrent contingent consideration	$	—	$	—	$	19,662	$	19,662

Schedule of Reconciliation of the Change in the Fair Value of Contingent Consideration - Earnout

A reconciliation of the change in the fair value of contingent consideration – earnouts is included in the following table (amounts in thousands):

Balance at December 31, 2024	$	36,788
Translation adjustment		1,980
Balance at March 31, 2025	$	38,768

Schedule of Contingent Consideration Earnout Expect to be Required to Settle Include Significant Unobservable Inputs

The recurring Level 3 fair value measurement of our contingent consideration obligations for Tantti include the following significant unobservable inputs (amounts in thousands, except percent data):

Contingent Consideration Earnout	Fair Value as of  March 31, 2025		Valuation Technique	Unobservable Input	Range	Weighted Average(1)
			Monte Carlo Simulation	Probability of
				Success	0% - 100%	50%
Commercialization-based payments	$	3,854		Earnout Discount Rate	5.4%	5.4%
				Volatility	22.6% - 34.7%	34.7%
Revenue and Volume- based payments			Monte Carlo Simulation	Revenue & Volume Discount Rate	10.2% - 15.7%	15.7%
	$	13,268		Earnout Discount Rate	5.4% - 5.8%	5.4%
				Probability of  Success	0% - 100%	50%
Manufacturing line expansions	$	2,540	Probability-weighted present value	Earnout Discount Rate	5.4% - 5.5%	5.4%

(1)Unobservable inputs were weighted by the relative fair value of the contingent consideration liability.