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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Measurements |
Schedule of assets and liabilities measured at fair value on a recurring basis | The following table summarizes the carrying amount and estimated fair value of the Company’s financial instruments at December 31, 2023 and 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2023
​ | ​ | Carrying | ​ | Fair | ​ | Fair Value Measurements
​ | ​ | Amount | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration | $ | 126,216 | $ | 126,216 | $ | — | $ | — | $ | 126,216
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2022
​ | ​ | Carrying | ​ | Fair | ​ | Fair Value Measurements
​ | ​ | Amount | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash equivalents | $ | 212,577 | $ | 212,577 | $ | 212,577 | $ | — | $ | —
Corporate bonds | ​ | 193,633 | ​ | 193,633 | ​ | — | ​ | 193,633 | ​ | —
U.S. Treasuries | ​ | 1,139,310 | ​ | 1,139,310 | ​ | 1,139,310 | ​ | — | ​ | —
Equity securities | ​ | 134,836 | ​ | 134,836 | ​ | 134,836 | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration | ​ | 116,165 | ​ | 116,165 | ​ | — | ​ | — | ​ | 116,165
Schedule of assets and liabilities measured at fair value on a recurring basis that have unobservable inputs | In the audited consolidated balance sheets, contingent consideration is recorded in the contingent consideration, loss accrual for service contracts, and other liabilities financial statement line item, and is comprised of the following unobservable inputs for the year ended December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Instrument |  | Fair Value | Valuation Technique | Unobservable Input | Range (weighted average)
Contingent Consideration | ​ | $ | 126,216 | Scenario based method | Credit spread | 13.61%
​ | ​ | ​ | ​ | ​ | Discount rate | 17.71% - 19.06%
​ | ​ | ​ | 126,216 | ​ | ​ | ​
​ In the audited consolidated balance sheets, contingent consideration is recorded in the contingent consideration, loss accrual for service contracts, and other liabilities financial statement line item, and is comprised of the following unobservable inputs for the year ended December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Instrument |  | Fair Value | Valuation Technique | Unobservable Input | Range (weighted average)
Contingent Consideration | ​ | $ | 85,269 | Scenario based method | Credit spread | 15.73% - 15.74%
​ | ​ | ​ | ​ | ​ | Discount rate | 19.85% - 20.68%
​ | ​ | ​ | 11,310 | Monte carlo simulation | Credit spread | 15.74%
​ | ​ | ​ | ​ | ​ | Discount rate | 20.00% - 20.30%
​ | ​ | ​ | ​ | ​ | Revenue volatility | 45.29%
​ | ​ | ​ | 19,586 | Monte carlo simulation | Credit spread | 15.73%
​ | ​ | ​ | ​ | ​ | Revenue volatility | 35.7% - 23.1% (35.0%)
​ | ​ | ​ | ​ | ​ | Gross profit volatility | 106.7% - 23.2% (60.0%)
​ | ​ | ​ | 116,165 | ​ | ​ | ​
Schedule of activity in the level 3 liabilities | The change in the carrying amount of Level 3 liabilities for the year ended December 31, 2023 was as follows (in thousands): ​
​ | ​ | ​ | ​
​ |  | Year Ended
​ | ​ | December 31, 2023
Beginning balance at December 31, 2022 | ​ | $ | 116,165
Cash payments | ​ | ​ | (13,000)
Payment settled in stock | ​ | ​ | (8,000)
Fair value adjustments | ​ | ​ | 30,024
Foreign currency translation adjustment | ​ |  | 1,027
Ending balance at December 31, 2023 | ​ | $ | 126,216
​

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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 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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