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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of fair value measurements along with the level within the fair value hierarchy in which the fair value measurements fall

The following table presents the Company’s fair value measurements as of September 30, 2025 along with the level within the fair value hierarchy in which the fair value measurements, in their entirety, fall.

(In thousands)						Fair Value at September 30, 2025						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Cash, cash equivalents, and restricted cash
Cash and money market						$	781,729					$	781,729					$	—					$	—
U.S. government agency securities						7,308						—						7,308						—
Marketable securities
Corporate bonds						$	104,255					$	—					$	104,255					$	—
U.S. government agency securities						69,085						—						69,085						—
Asset backed securities						29,366						—						29,366						—
Equity securities						11,352						11,352						—						—
Non-marketable securities						$	53,262					$	—					$	—					$	53,262
Liabilities
Contingent consideration						$	(284,113)					$	—					$	—					$	(284,113)
Total						$	772,244					$	793,081					$	210,014					$	(230,851)

The following table presents the Company’s fair value measurements as of December 31, 2024 along with the level within the fair value hierarchy in which the fair value measurements, in their entirety, fall.

(In thousands)						Fair Value at December 31, 2024						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Cash, cash equivalents and restricted cash
Cash and money market						$	595,548					$	595,548					$	—					$	—
Restricted cash (1)						5,747						5,747						—						—
U.S. government agency securities						5,341						—						5,341						—
Marketable securities
Corporate bonds						$	206,874					$	—					$	206,874					$	—
U.S. government agency securities						140,952						—						140,952						—
Asset backed securities						83,339						—						83,339						—
Equity securities						5,972						5,972						—						—
Non-marketable securities						$	796					$	—					$	—					$	796
Liabilities
Contingent consideration						$	(282,212)					$	—					$	—					$	(282,212)
Total						$	762,357					$	607,267					$	436,506					$	(281,416)

_________________________________

(1)Restricted cash primarily represents cash held by a third-party financial institution as part of a cash collateral agreement related to the Company’s credit card program. The restrictions will lapse upon the termination of the agreements or the removal of the cash collateral requirement by the third-parties.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table summarizes the Company’s non-marketable investments, which are primarily included in other long-term assets on the condensed consolidated balance sheet as of September 30, 2025 and December 31, 2024:

(In thousands)						September 30, 2025						December 31, 2024
Investments for which the fair value option has been elected						$	53,262					$	796
Investments without readily determinable fair values						50,941						50,448
Equity method investments						7,383						7,488
Total						$	111,586					$	58,732

Securities Owned Not Readily Marketable [Table Text Block]

Gains and losses recorded on non-marketable securities for which the fair value option has been elected are recognized in investment income, net in the condensed consolidated statement of operations. The following table provides a reconciliation of the beginning and ending balances of non-marketable securities valued using the fair value option:

(In thousands)						Non-Marketable Securities
Beginning balance, January 1, 2025						$	796
Purchases of non-marketable securities						50,850
Changes in fair value						1,616
Settlement of non-marketable securities						—
Ending balance, September 30, 2025						$	53,262

Other Investments Not Readily Marketable

Investments without readily determinable fair values had the following cumulative upward and downward adjustments and aggregate carrying amounts:

(In thousands)						September 30, 2025						September 30, 2024
Cumulative upward adjustments (1)						$	5,595					$	5,102
Cumulative downward adjustments and impairments (2)						(16,850)						(15,071)
Aggregate carrying value						50,941						52,227

_________________________________

(1)    There were no material upward adjustments recorded for the three and nine months ended September 30, 2025 and 2024.

(2)    There were no material downward adjustments or impairments recorded for the three and nine months ended September 30, 2025 and 2024.

Schedule of fair value of contingent consideration

The following table provides a reconciliation of the beginning and ending balances of contingent consideration:

						Three Months Ended September 30,												Nine Months Ended September 30,
(In thousands)						2025						2024						2025						2024
Beginning balance						$	275,408					$	277,921					$	282,212					$	288,657
Changes in fair value (1)						8,705						5,310						21,901						(2,326)
Payments (2)						—						—						(20,000)						(3,100)
Ending balance						$	284,113					$	283,231					$	284,113					$	283,231

______________

(1)The change in fair value of the contingent consideration liability is included in general and administrative expenses in the condensed consolidated statement of operations for the three and nine months ended September 30, 2025 and 2024.

(2)Payments were made in the nine months ended September 30, 2025 and 2024 to settle the product development milestone contingent consideration liabilities previously recorded related to the Company’s acquisitions of Ashion Analytics, LLC (“Ashion”) and OmicEra Diagnostics GmbH, respectively.

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of other investments not readily marketable, including, but not limited to, description of investment, fair value and value as measured by quoted price.

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