Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025 and December 31, 2024 (amounts in thousands):

	As of June 30, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Money market accounts	$	616,377	$	—	$	—	$	616,377
Liabilities:
Foreign exchange forward contracts	$	—	$	9,187	$	—	$	9,187
Current contingent consideration	$	—	$	104	$	5,064	$	5,168
Noncurrent contingent consideration	$	—	$	—	$	6,658	$	6,658
	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
Decrease in fair value of contingent consideration earnouts		(7,939	)
Earnout payment - equity element		(7,568	)
Earnout payment - cash element		(9,455	)
Balance at June 30, 2025	$	11,826

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  June 30, 2025		Valuation Technique	Unobservable Input	Range	Weighted Average(1)
			Monte Carlo Simulation	Probability of
				Success	0% - 100%	41%
Commercialization-based payments	$	4,031		Earnout Discount Rate	5.2%	5.2%
				Volatility	33.8%	33.8%
Revenue and Volume- based payments			Monte Carlo Simulation	Revenue & Volume Discount Rate	15.9%	15.9%
	$	5,041		Earnout Discount Rate	5.0% - 5.4%	5.2%
				Probability of  Success	0% - 100%	100%
Manufacturing line expansions	$	2,650	Probability-weighted present value	Earnout Discount Rate	5.0% - 5.2%	5.0%

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