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Fair Value Measurements, Cash Equivalents and Marketable Securities (Tables) | 6 Months Ended
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Jun. 30, 2025
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:
| June 30, 2025
| Fair Value |  | Level 1 |  | Level 2 |  | Level 3
| (unaudited)
| (in thousands)
Financial Assets: |  |  |  |  |  |  |
Money market funds | $ | 564,274 |  |  | $ | 564,274 |  |  | $ | — |  |  | $ | — |
Income deposit funds | 105,686 |  |  | — |  |  | 105,686 |  |  | — |
Total cash equivalents and restricted cash | $ | 669,960 |  |  | $ | 564,274 |  |  | $ | 105,686 |  |  | $ | — |
Financial Liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | 4,770 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,770 |
Total | $ | 4,770 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,770 |
| 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 |
Schedule of Level 3 Activity | The following table summarizes the activities for the Level 3 financial instruments:
|  |  |  |  |  | Contingent Consideration
|  |  |  |  |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  |  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
|  |  |  |  |  | (unaudited)
|  |  |  |  |  | (in thousands)
Fair value — beginning of period |  |  |  |  |  | $ | 6,540 |  |  | $ | 6,660 |  |  | $ | 6,050 |  |  | $ | 6,540 |
Increase in fair value |  |  |  |  |  | 230 |  |  | 300 |  |  | 720 |  |  | 420 |
Settlement |  |  |  |  |  | (2,000) |  |  | — |  |  | (2,000) |  |  | — |
Fair value — end of period |  |  |  |  |  | $ | 4,770 |  |  | $ | 6,960 |  |  | $ | 4,770 |  |  | $ | 6,960 |
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:
| June 30, 2025
| Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
| (unaudited)
| (in thousands)
Money market funds | $ | 564,274 |  |  | $ | — |  |  | $ | — |  |  | $ | 564,274 |
Income deposit funds | 105,686 |  |  | — |  |  | — |  |  | 105,686 |
Total | $ | 669,960 |  |  | $ | — |  |  | $ | — |  |  | $ | 669,960 |
| 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 |

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- 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 + Details
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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 + Details
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- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
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