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Marketable Securities and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Marketable Securities

The following table summarizes the Company's marketable securities as of December 31, 2025:

		December 31, 2025
		Amortized Cost				Gross unrealized gains				Gross unrealized losses				Estimated Fair Value
		(Amounts in thousands)
Short-term investments:
U.S. Treasury bills		$	201,554			$	55			$	(2	)		$	201,607
Total		$	201,554			$	55			$	(2	)		$	201,607

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 December 31, 2025 and 2024:

		December 31, 2025
		Level 1				Level 2				Level 3				Total
		(Amounts in thousands)
Assets:
Cash and cash equivalents:
Cash		$	88,148			$	—			$	—			$	88,148
Money market accounts			477,873				—				—				477,873
Total		$	566,021			$	—			$	—			$	566,021
Marketable securities:
U.S. Treasury bills		$	—			$	201,607			$	—			$	201,607
Total		$	—			$	201,607			$	—			$	201,607
Total assets		$	566,021			$	201,607			$	—			$	767,628
Liabilities:
Contingent consideration		$	—			$	—			$	5,049			$	5,049
Noncurrent contingent consideration			—				—				1,304				1,304
Total liabilities		$	—			$	—			$	6,353			$	6,353

		December 31, 2024
		Level 1				Level 2				Level 3				Total
		(Amounts in thousands)
Assets:
Cash and cash equivalents:
Cash		$	70,102			$	—			$	—			$	70,102
Money market accounts			687,253				—				—				687,253
Foreign exchange forward contracts			—				287				—				287
Total assets		$	757,355			$	287			$	—			$	757,642
Liabilities:
Contingent consideration		$	—			$	17,126			$	—			$	17,126
Noncurrent contingent consideration			—				—				19,662				19,662
Total liabilities		$	—			$	17,126			$	19,662			$	36,788

Schedule of Reconciliation of the Change in the Fair Value of Contingent Consideration - Earnout

A reconciliation of the change in fair value of contingent consideration – earnout is included in the following table (amounts in thousands):

Balance at December 31, 2024		$	36,788
Decrease in fair value of contingent consideration earnouts			(13,607	)
Earnout payment - equity element			(7,568	)
Earnout payment - cash element			(9,548	)
Cumulative translation adjustment			288
Balance at December 31, 2025		$	6,353

Schedule of Contingent Consideration Earnout Expect to be Required to Settle Includes Significant Unobservable Inputs

The recurring Level 3 fair value measurement of the contingent consideration obligation for Tantti includes the following significant unobservable inputs (amounts in thousands, except percent data):

Contingent Consideration Earnout		Fair Value as of December 31, 2025				Valuation Technique		Unobservable Input		Range		Weighted Average(1)
Commercialization-based payments						Probability-weighted present value		Probability of Success		0% - 100%		83%
		$	3,748					Earnout Discount Rate		4.3% - 4.6%		4.4%
Revenue and Volume- based payments						Monte Carlo Simulation		Volatility		34.8%		34.8%
								Revenue & Volume Discount Rate		16.6%		16.6%
		$	4					Earnout Discount Rate		4.3% - 4.9%		4.8%
Manufacturing line expansions						Probability-weighted present value		Probability of  Success		0% - 100%		100%
		$	2,601					Earnout Discount Rate		4.3% - 4.6%		4.6%

(1) 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.

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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.

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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).

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