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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of assets and liabilities measured at fair value on a recurring basis

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Fair Value Measurements Using

As of March 31, 2025 (unaudited)

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Fair Value

Prices in active markets for identical assets (Level 1)

Significant other observable inputs (Level 2)

Significant unobservable inputs (Level 3)

Money Market Funds

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$

246,020

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$

246,020

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$

—

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$

—

ecosio Cash Earn-outs

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76,100

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—

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—

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76,100

ecosio Stock Earn-outs

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31,700

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—

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31,700

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Fair Value Measurements Using

As of December 31, 2024

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Fair Value

Prices in active markets for identical assets (Level 1)

Significant other observable inputs (Level 2)

Significant unobservable inputs (Level 3)

Money Market Funds

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$

276,374

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$

276,374

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$

—

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$

—

Commercial Paper

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4,920

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—

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4,920

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—

Corporate Bonds

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250

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—

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250

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—

U.S. Treasury Securities

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5,983

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—

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5,983

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—

ecosio Cash Earn-outs

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74,400

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—

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—

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74,400

ecosio Stock Earn-outs

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48,100

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—

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—

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48,100

Schedule of additional information on Cash and Stock Earn-outs

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​	​	​	​	​	​	​	​	​	​
​	​	Maximum		​	Fair Value		​	Fair Value
Cash Earn-outs/ Period (unaudited)	​	Payout		​	March 31, 2025		​	December 31, 2024
Year 1 - December 1, 2024 - December 1, 2025	​	$	19,600	​	$	18,300	​	$	17,900
Year 2 - December 1, 2025 - December 1, 2026	​	​	30,625	​	​	25,100	​	​	24,400
Year 3 - December 1, 2026 - December 1, 2027	​	​	44,130	​	​	32,700	​	​	32,100
Total Cash Earn-outs	​	$	94,355	​	$	76,100	​	$	74,400
​	​	Maximum		​	Fair Value		​	Fair Value
Stock Earn-outs/ Period (unaudited)	​	Payout (1)		​	March 31, 2025		​	December 31, 2024
Year 1 - December 1, 2024 - December 1, 2025	​	$	12,000	​	$	11,300	​	$	17,200
Year 2 - December 1, 2025 - December 1, 2026	​	​	12,000	​	​	10,800	​	​	16,300
Year 3 - December 1, 2026 - December 1, 2027	​	​	11,000	​	​	9,600	​	​	14,600
Total Stock Earn-outs	​	$	35,000	​	$	31,700	​	$	48,100
(1) Maximum payout based on Vertex's August 6, 2024 opening share price of $37.02, as referenced in the purchase agreement.
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​	​	​	​	​	​	​	​	​	​	​	​
​	As of March 31, 2025					​	As of December 31, 2024
​	(unaudited)					​	​	​	​	​	​
​	Current (1)		​	Non-Current (2)		​	Current (1)		​	Non-Current (2)
Cash Earn-outs	$	18,300	​	$	57,800	​	$	17,900	​	$	56,500
Stock Earn-outs	​	11,300	​	​	20,400	​	​	17,200	​	​	30,900
Total	$	29,600	​	$	78,200	​	$	35,100	​	$	87,400
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(1) Included in purchase commitment and contingent consideration liabilities, current.
(2) Included in purchase commitment and contingent consideration liabilities, net of current portion.

Changes in fair value of contingent consideration

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​	​	​	​	​	​	​
​	​	ecosio
​	​	Contingent Consideration
​	​	Cash Earn-outs		​	Stock Earn-outs
​	​	(unaudited)
Balance, January 1, 2025	​	$	74,400	​	$	48,100
Fair value adjustments	​	​	1,700	​	​	(16,400)
Balance, March 31, 2025	​	$	76,100	​	$	31,700

Ecosio

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of fair value of contingent consideration and unobservable inputs used for the Monte Carlo Simulation valuation

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​	​	​	​	​	​	​	​	​	​	​	​
​	​	March 31, 2025 (unaudited)
Liabilities		Fair Value			​	Valuation Technique	​	Unobservable Inputs
ecosio Contingent Consideration - Cash Earn-outs	​	$	76,100	​	​	Monte Carlo Simulation	​	Revenue volatility	​	22.5	%
​	​	​	​	​	​	​	​	Revenue discount rate	​	7.4	%
​	​	​	​	​	​	​	​	Term (in years)	​	2.9	​
​	​	​	​	​	​	​	​	​	​	​	​
ecosio Contingent Consideration - Stock Earn-outs	​	$	31,700	​	​	Monte Carlo Simulation	​	Revenue volatility	​	22.5	%
​	​	​	​	​	​	​	​	Revenue discount rate	​	7.4	%
​	​	​	​	​	​	​	​	Term (in years)	​	2.9	​
​	​	​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2024
Liabilities		Fair Value			​	Valuation Technique	​	Unobservable Inputs
ecosio Contingent Consideration - Cash Earn-outs	​	$	74,400	​	​	Monte Carlo Simulation	​	Revenue volatility	​	21.0	%
​	​	​	​	​	​	​	​	Revenue discount rate	​	7.7	%
​	​	​	​	​	​	​	​	Term (in years)	​	3.2	​
​	​	​	​	​	​	​	​	​	​	​	​
ecosio Contingent Consideration - Stock Earn-outs	​	$	48,100	​	​	Monte Carlo Simulation	​	Revenue volatility	​	21.0	%
​	​	​	​	​	​	​	​	Revenue discount rate	​	7.7	%
​	​	​	​	​	​	​	​	Term (in years)	​	3.2	​

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- Definition

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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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