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Acquisitions and Equity Investments (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combination [Abstract] |
Summary of Purchase Price Allocation | The following table sets forth the components and the allocation of the purchase price for the business combination and summarizes the fair values of the assets acquired and liabilities assumed at the Acquisition Date and the purchase price adjustments recorded:
|  | Preliminary |  |  | Purchase Price Adjustments |  |  | Adjusted |
Previously held interests in RFQ-hub: |  |  |  |  |  |  |  |  |
Carrying value of previously held interest |  | $ | 34,878 |  |  | $ | — |  |  | $ | 34,878 |
Fair value of previously held interest on Acquisition Date |  |  | 34,321 |  |  |  | (455 | ) |  |  | 33,866 |
Loss on remeasurement of previously held interest |  |  | (557 | ) |  |  | (455 | ) |  |  | (1,012 | )
Purchase price allocation: |  |  |  |  |  |  |  |  |
Cash consideration at closing |  | $ | 38,069 |  |  | $ | — |  |  | $ | 38,069 |
Fair value of previously held interest on Acquisition Date |  |  | 34,321 |  |  |  | (455 | ) |  |  | 33,866 |
Fair value of remaining noncontrolling interests on Acquisition Date |  |  | 13,755 |  |  |  | (3,390 | ) |  |  | 10,365 |
Total purchase price |  |  | 86,145 |  |  |  | (3,845 | ) |  |  | 82,300 |
Acquired cash |  |  | (1,554 | ) |  |  | — |  |  |  | (1,554 | )
Purchase price, net of acquired cash |  |  | 84,591 |  |  |  | (3,845 | ) |  |  | 80,746 |
Intangible assets |  |  | (30,300 | ) |  |  | 100 |  |  |  | (30,200 | )
Accounts receivable |  |  | (4,333 | ) |  |  | — |  |  |  | (4,333 | )
Prepaid expenses and other assets |  |  | (2,466 | ) |  |  | 1,392 |  |  |  | (1,074 | )
Accounts payable, accrued expenses and other liabilities |  |  | 1,822 |  |  |  | — |  |  |  | 1,822 |
Goodwill |  | $ | 49,314 |  |  | $ | (2,353 | ) |  | $ | 46,961 |
RFQ-hub’s assets and liabilities were measured at estimated fair values on the Acquisition Date. Estimates of fair value represent management’s best estimate and require significant judgment about future events and uncertainties. Third-party valuation specialists were engaged to assist in the valuation of these assets and liabilities. The redeemable noncontrolling interests were valued using an option pricing model.
Summary of Fair Value of Acquired Intangible Assets | The acquired developed technology and customer relationships intangible assets were valued using the relief-from-royalty method and multi-period excess earnings method, respectively. The fair values of the intangible assets acquired are as follows:
|  | Costs (in thousands) |  |  | Useful Lives
Developed technology |  | $ | 16,900 |  |  | 5 years
Customer relationships |  |  | 12,600 |  |  | 15 years
Tradename - finite life |  |  | 700 |  |  | 10 years
Total |  | $ | 30,200 |  |  |
Summary of the Changes in Redeemable Noncontrolling Interest | The following table is a summary of the changes in redeemable noncontrolling interest for the nine months ended September 30, 2025:
|  | (In thousands) |
Balance at December 31, 2024 |  | $ | — |
Redeemable noncontrolling interests assumed through the 2025 RFQ-hub Acquisition |  |  | 10,365 |
Net income attributable to noncontrolling interests |  |  | 128 |
Issuance of noncontrolling interests |  |  | 1,240 |
Balance at September 30, 2025 |  | $ | 11,733 |

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