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Fair value of financial instruments and marketable securities - (Tables)

9 Months Ended

Sep. 30, 2025

Fair value of financial instruments and marketable securities

Schedule of marketable securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Ending

​

​

​

​

Foreign

​

​

​

​

​

​

​

Ending

​

​

Balance at

​

​

​

​

Currency

​

​

​

​

​

​

​

Balance at

​

​

June 30,

​

Unrealized

​

Unrealized

​

Investments

​

Redemptions/

​

September 30,

​

2025

Gain

Gain

Purchased

Sale

2025

Marketable securities - equity investments

​

$

34,203

​

​

1,622

​

​

1,605

​

​

29,508

​

​

(22,982)

​

​

43,956

ClearPoint Equity Investments

​

​

10,681

​

​

8,812

​

​

—

​

​

—

​

​

—

​

​

19,493

Total Fair Value

​

$

44,884

​

$

10,434

​

$

1,605

​

$

29,508

​

$

(22,982)

​

$

63,449

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Ending

​

​

​

​

​

​

Foreign

​

​

​

​

​

​

Ending

​

​

Balance at

​

​

​

​

​

​

Currency

​

​

​

​

​

​

Balance at

​

​

June 30,

​

Unrealized

​

Realized

​

Unrealized

​

Investments

​

Redemptions/

​

September 30,

​

2024

Gain

​

Loss

Gain

Purchased

Sale

​

2024

Marketable securities - equity investments

​

$

16,889

​

​

812

​

​

—

​

​

400

​

​

32,208

​

​

(21,051)

​

$

29,258

ClearPoint Equity Investments

​

​

4,822

​

​

5,206

​

​

—

​

​

—

​

​

—

​

​

—

​

​

10,028

ClearPoint convertible debt security

​

​

10,622

​

​

—

​

​

(622)

​

​

—

​

​

—

​

​

(10,000)

​

​

—

Total Fair Value

​

$

32,333

​

$

6,018

​

$

(622)

​

$

400

​

$

32,208

​

$

(31,051)

​

$

39,286

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Ending

​

​

​

​

Foreign

​

​

​

​

​

​

​

Ending

​

​

​

Balance at

​

​

​

​

Currency

​

​

​

​

​

​

​

Balance at

​

​

​

December 31,

​

Unrealized

​

Unrealized

​

Investments

​

Redemptions/

​

September 30,

​

​

2024

Gain

Gain

Purchased

Sale

2025

​

Marketable securities - equity investments

​

$

29,034

​

​

3,160

​

​

5,337

​

​

46,537

​

​

(40,112)

​

​

43,956

​

ClearPoint Equity Investments

​

​

13,759

​

​

5,734

​

​

—

​

​

—

​

​

—

​

​

19,493

​

Total Fair Value

​

$

42,793

​

$

8,894

​

$

5,337

​

$

46,537

​

$

(40,112)

​

$

63,449

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Ending

​

​

​

​

​

​

Foreign

​

​

​

​

​

​

Ending

​

​

Balance at

​

​

​

​

​

​

Currency

​

​

​

​

​

​

Balance at

​

​

December 31,

​

Unrealized

​

Realized

​

Unrealized

​

Investments

​

Redemptions/

​

September 30,

​

2023

Gain/(Loss)

Loss

Loss

Purchased

Sale

2024

Marketable securities - equity investments

​

$

22,634

​

​

1,923

​

​

—

​

​

(3,289)

​

​

49,614

​

​

(41,624)

​

$

29,258

ClearPoint Equity Investments

​

​

6,074

​

​

3,954

​

​

—

​

​

—

​

​

—

​

​

—

​

​

10,028

ClearPoint convertible debt security

​

​

12,553

​

​

(1,931)

​

​

(622)

​

​

—

​

​

—

​

​

(10,000)

​

​

—

Total Fair Value

​

$

41,261

​

$

3,946

​

$

(622)

​

$

(3,289)

​

$

49,614

​

$

(51,624)

​

$

39,286

Schedule of financial assets and liabilities that are required to be measured at fair value on a recurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2025

​

​

​

Quoted prices

Significant

​

​

​

​

​

​

in active

other

Significant

​

​

​

​

markets for

observable

unobservable

​

​

​

​

identical assets

inputs

inputs

​

Total

(level 1)

(level 2)

(level 3)

Marketable securities - available for sale

​

$

971,244

​

$

—

​

$

971,244

​

$

—

Marketable securities - equity investments

​

$

43,956

​

$

43,956

​

$

—

​

$

—

ClearPoint Equity Investments

​

$

19,493

​

$

19,493

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

Quoted prices

Significant

​

​

​

​

​

​

in active

other

Significant

​

​

​

​

markets for

observable

unobservable

​

​

​

​

identical assets

inputs

inputs

​

Total

(level 1)

(level 2)

(level 3)

Marketable securities - available for sale

​

$

330,953

​

$

—

​

$

330,953

​

$

—

Marketable securities - equity investments

​

$

29,034

​

$

29,034

​

$

—

​

$

—

ClearPoint Equity Investments

​

$

13,759

​

$

13,759

​

$

—

​

$

—

Contingent consideration payable- net sales milestones

​

$

800

​

$

—

​

$

—

​

$

800

​

Summary of marketable securities accounted for as available-for-sale debt securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2025

​

Amortized

Gross Unrealized

​

​

​

​

Cost

Gains

Losses

Fair Value

Commercial paper

​

$

106,556

​

$

8

​

$

(3)

​

$

106,561

Corporate debt securities

​

​

243,257

​

​

160

​

​

(2)

​

​

243,415

Government obligations

​

​

620,760

​

​

518

​

​

(10)

​

​

621,268

Total

​

$

970,573

​

$

686

​

$

(15)

​

$

971,244

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

Amortized

Gross Unrealized

​

​

​

​

Cost

Gains

Losses

Fair Value

Commercial paper

​

$

44,780

​

$

—

​

$

(1)

​

$

44,779

Corporate debt securities

​

89,320

​

​

76

​

​

(75)

​

​

89,321

Government obligations

​

​

196,584

​

​

269

​

​

—

​

​

196,853

Total

​

$

330,684

​

$

345

​

$

(76)

​

$

330,953

​

Summary of unrealized losses and fair values of available-for-sale debt securities in a continuous unrealized loss position

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2025

​

Securities in an unrealized loss

Securities in an unrealized loss

​

​

​

​

​

​

position less than 12 months

position greater than or equal to 12 months

​

Total

​

Unrealized losses

Fair Value

Unrealized losses

Fair Value

Unrealized losses

Fair Value

Commercial paper

​

$

(3)

​

​

59,850

​

​

—

​

​

—

​

​

(3)

​

$

59,850

Corporate debt securities

​

$

(2)

​

​

44,500

​

​

—

​

​

—

​

​

(2)

​

$

44,500

Government obligations

​

$

(10)

​

​

30,001

​

​

—

​

​

—

​

​

(10)

​

$

30,001

Total

​

$

(15)

​

$

134,351

​

$

—

​

$

—

​

$

(15)

​

$

134,351

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

Securities in an unrealized loss

Securities in an unrealized loss

​

​

​

​

​

​

position less than 12 months

position greater than or equal to 12 months

​

Total

​

Unrealized losses

Fair Value

Unrealized losses

Fair Value

Unrealized losses

Fair Value

Commercial paper

​

$

(1)

​

​

29,810

​

​

—

​

​

—

​

​

(1)

​

$

29,810

Corporate debt securities

​

$

(75)

​

​

59,550

​

​

—

​

​

—

​

​

(75)

​

$

59,550

Total

​

$

(76)

​

$

89,360

​

$

—

​

$

—

​

$

(76)

​

$

89,360

Schedule of available-for-sale debt securities

​

​	​	​	​	​	​	​
​	​	September 30, 2025
​		Less Than			More Than
​		12 Months			12 Months
Commercial paper	​	$	106,561	​	$	—
Corporate debt securities	​	​	243,415	​	​	—
Government obligations	​	​	621,268	​	​	—
Total	​	$	971,244	​	$	—

​

​	​	​	​	​	​	​
​	​	December 31, 2024
​		Less Than			More Than
​		12 Months			12 Months
Commercial paper	​	$	44,779	​	$	—
Corporate debt securities	​		89,321	​		—
Government obligations	​	​	196,853	​	​	—
Total	​	$	330,953	​	$	—

​

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

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- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
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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).

+ 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

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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