Fair Value Measurements

12 Months Ended

Nov. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2024:

			Fair Value Measurements Using
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Assets
Money market funds	$	1,823	$	1,823	$	—	$	—
Liabilities
Foreign exchange derivatives	$	(624)	$	—	$	(624)	$	—

The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2023:

			Fair Value Measurements Using
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Assets
Interest rate swap	$	1,495	$	—	$	1,495	$	—
Liabilities
Foreign exchange derivatives	$	(2,530)	$	—	$	(2,530)	$	—

Assets and Liabilities Not Carried at Fair Value

Fair Value of the Convertible Senior Notes

The following table details the fair value and carrying value of the Notes:

	November 30, 2024				November 30, 2023
(in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Convertible senior notes due 2026(1)	$	356,946	$	449,094	$	354,772	$	377,125
Convertible senior notes due 2030(2)	439,321		550,827		—		—
Total	$	796,267	$	999,921	$	354,772	$	377,125

(1) The carrying value of the 2026 Notes are reflected net of $3.1 million and $5.2 million of unamortized debt issuance costs as of November 30, 2024 and November 30, 2023, respectively.

(2) The carrying value of the 2030 Notes are reflected net of $10.7 million of unamortized debt issuance costs as of November 30, 2024.

The fair value of the Notes is based on the quoted prices in an over-the-counter market on the last trading day of the reporting period and classified within Level 2 in the fair value hierarchy.

Fair Value of Other Financial Assets and Liabilities

The carrying amounts of other financial assets and liabilities including cash and cash equivalents, accounts receivable, unbilled accounts receivable, accounts payable, and accrued liabilities approximate their respective fair values due to their immediate or short-term maturities.