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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Measurements

Schedule of financial assets and (liabilities) carried at fair value and measured on a recurring basis

Our financial assets and (liabilities) carried at fair value and measured on a recurring basis as of March 31, 2026 and December 31, 2025 consisted of the following (in thousands):


					Fair Value Measurements Using
		Total Fair			Quoted prices in			Significant other			Significant
		Value at			active markets			observable inputs			unobservable inputs
		March 31, 2026			(Level 1)			(Level 2)			(Level 3)
Money market funds ⁽¹⁾		$	31,561		$	31,561		$	—		$	—
United States treasury debt securities ⁽²⁾			4,271			4,271			—			—
Foreign currency contract assets, current and long-term ⁽³⁾			6,317			—			6,317			—
Foreign currency contract liabilities, current and long-term ⁽⁴⁾			(4,603)			—			(4,603)			—
Contingent consideration liabilities ⁽⁵⁾			(2,179)			—			—			(2,179)


					Fair Value Measurements Using
		Total Fair			Quoted prices in			Significant other			Significant
		Value at			active markets			observable inputs			unobservable inputs
		December 31, 2025			(Level 1)			(Level 2)			(Level 3)
Money market funds ⁽¹⁾		$	31,285		$	31,285		$	—		$	—
United States treasury debt securities ⁽²⁾			5,230			5,230			—			—
Foreign currency contract assets, current and long-term ⁽³⁾			5,608			—			5,608			—
Foreign currency contract liabilities, current and long-term ⁽⁴⁾			(4,227)			—			(4,227)			—
Contingent consideration liabilities ⁽⁵⁾			(4,537)			—			—			(4,537)

(1)	Our money market fund represents a bank-managed money market fund which permits daily redemptions. Amounts in the fund are recorded as cash equivalents in the consolidated balance sheets.

(2)	The fair value of U.S. treasury debt securities are determined using quoted prices for identical assets in active markets and is recorded as cash and cash equivalents in the consolidated balance sheets.

(3)

The fair value of the foreign currency contract assets (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as a prepaid expense and other current asset or other long-term asset in the consolidated balance sheets.

(4)

The fair value of the foreign currency contract liabilities (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as accrued expense or other long-term obligation in the consolidated balance sheets.

(5)	The fair value of contingent consideration liabilities is determined using Level 3 fair value inputs and is recorded within accrued expenses and other long-term obligations.

Schedule of roll-forward of the allowance for current expected credit losses

The table below presents a roll-forward of the allowance for current expected credit losses on our notes receivable for the three-month periods ended March 31, 2026 and 2025 (in thousands):


		Three Months Ended
		March 31,
		2026			2025
Beginning balance		$	2,625		$	1,366
Provision for credit loss expense			(89)			268
Ending balance		$	2,536		$	1,634