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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands):
|  | As of March 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market accounts |  | $ | 694,501 |  |  | $ | — |  |  | $ | — |  |  | $ | 694,501 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Short-term contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | 24,352 |  |  | $ | 24,352 |
|  | As of December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market accounts |  | $ | 658,574 |  |  | $ | — |  |  | $ | — |  |  | $ | 658,574 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Short-term contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | 12,983 |  |  | $ | 12,983 |
Long-term contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | 14,070 |  |  | $ | 14,070 |
Cash and cash equivalents As of March 31, 2024 and December 31, 2023, cash and cash equivalents on the Company's condensed consolidated balance sheets included $694.5 million and $658.6 million, respectively, in money market account. These funds are valued on a recurring basis using Level 1 inputs.
Schedule of Reconciliation of the Change in the Fair Value of Contingent Consideration - Earnout | A reconciliation of the change in the fair value of contingent consideration – earnouts is included in the following table (amounts in thousands):
Balance at December 31, 2023 |  | $ | 27,053 |
Payment of contingent consideration earnouts |  |  | (2,701 | )
Balance at March 31, 2024 |  | $ | 24,352 |
Schedule of Contingent Consideration Earnout Expect to be Required to Settle Include Significant Unobservable Inputs | The recurring Level 3 fair value measurement of our contingent consideration earnout that we expect to be required to settle our 2023, 2024 and 2025 contingent consideration obligations for Avitide, FlexBiosys and Metenova include the following significant unobservable inputs (amounts in thousands, except percent data):
Contingent Consideration Earnout |  | Fair Value as of March 31, 2024 |  |  | Valuation Technique |  | Unobservable Input |  | Range |  | Weighted Average(1)
|  |  |  |  |  |  |  | Probability of |  |  |  |
|  |  |  |  |  |  |  | Success |  | 100% |  | 100%
Commercialization-based payments |  | $ |  | 20,094 |  |  | Monte Carlo Simulation |  | Earnout Discount Rate |  | 5.8%-5.9% |  | 5.9%
|  |  |  |  |  |  |  | Volatility |  | 12.5%-24.6% |  | 13.9%
Revenue and Volume- based payments |  | $ |  | 361 |  |  | Monte Carlo Simulation |  | Revenue & Volume Discount Rate |  | 2.5%-9.3% |  | 5.1%
|  |  |  |  |  |  |  | Earnout Discount Rate |  | 5.8%-7.2% |  | 5.8%
|  |  |  |  |  |  |  | Probability of Success |  | 100% |  | 100%
Manufacturing line expansions |  | $ |  | 3,897 |  |  | Probability-weighted present value |  | Earnout Discount Rate |  | 6.1%-6.4% |  | 6.3%
Unobservable inputs were weighted by the relative fair value of the contingent consideration liability.

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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