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Fair Value Measurements, Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements, Recurring and Nonrecurring

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows:

			December 31, 2024
			Fair Value						Level 1						Level 2						Level 3
			(in thousands)
Financial Assets:
Money market funds			$	57,151					$	57,151					$	—					$	—
Income deposit funds			103,581						—						103,581						—
U.S. government debt securities			429,294						—						429,294						—
Total cash equivalents and restricted cash			590,026						57,151						532,875						—
U.S. government debt securities			314,438						—						314,438						—
Total short-term marketable debt securities			314,438						—						314,438						—
Total			$	904,464					$	57,151					$	847,313					$	—
Financial Liabilities:
Contingent consideration			$	6,050					$	—					$	—					$	6,050
Total			$	6,050					$	—					$	—					$	6,050

			December 31, 2023
			Fair Value						Level 1						Level 2						Level 3
			(in thousands)
Financial Assets:
Money market funds			$	1,032,500					$	1,032,500					$	—					$	—
Total cash equivalents			1,032,500						1,032,500						—						—
U.S. government debt securities			35,097						—						35,097						—
Total short-term marketable debt securities			35,097						—						35,097						—
Long-term marketable equity securities			98,002						98,002						—						—
Total			$	1,165,599					$	1,130,502					$	35,097					$	—
Financial Liabilities:
Contingent consideration			$	6,540					$	—					$	—					$	6,540
Total			$	6,540					$	—					$	—					$	6,540

Schedule of Level 3 Financial Instruments

The following tables summarize the activities for the Level 3 financial instruments for the years ended December 31, 2024, 2023 and 2022:

						Contingent Consideration
						Year Ended December 31,
						2024						2023						2022
						(in thousands)
Fair value — beginning of period						$	6,540					$	6,430					$	3,625
Increase in fair value						1,010						110						4,305
Settlement						(1,500)						—						(1,500)
Fair value — end of period						$	6,050					$	6,540					$	6,430

												Noncontrolling Interest Liability
												Year Ended December 31,
												2024						2023						2022
												(in thousands)
Fair value — beginning of period												$	—					$	—					$	78,000
Increase in fair value												—						—						99,785
Settlement												—						—						(177,785)
Fair value — end of period												$	—					$	—					$	—

Schedule of Cash Equivalents and Marketable Securities'

The following tables summarize the Company’s cash equivalents, restricted cash and marketable debt securities’ amortized costs, gross unrealized gains, gross unrealized losses and estimated fair values by significant investment category:

			December 31, 2024
			Amortized Cost						Gross Unrealized Gain						Gross Unrealized Loss						Estimated Fair Value
			(in thousands)
Money market funds			$	57,151					$	—					$	—					$	57,151
Income deposit funds			103,581						—						—						103,581
U.S. government debt securities			743,500						232						—						743,732
Total			$	904,232					$	232					$	—					$	904,464

			December 31, 2023
			Amortized Cost						Gross Unrealized Gain						Gross Unrealized Loss						Estimated Fair Value
			(in thousands)
Money market funds			$	1,032,500					$	—					$	—					$	1,032,500
U.S. government debt securities			35,108						—						(11)						35,097
Total			$	1,067,608					$	—					$	(11)					$	1,067,597

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

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

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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