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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis within each level of the fair value hierarchy:

			Fair Value Hierarchy
			Level 1												Level 2												Level 3
(in thousands)			June 30, 2026						December 31, 2025						June 30, 2026						December 31, 2025						June 30, 2026						December 31, 2025
Assets:
Money market funds			$	245,055					$	229,922					$	—					$	—					$	—					$	—
Derivative instruments			—						—						7,450						815						—						—
Liabilities:
Contingent earnout liabilities			—						—						—						—						346,824						23,293

Schedule of Changes in Fair Value of Liabilities Measured at Fair Value on a Recurring Basis Utilizing Level 3 Assumptions

The following table sets forth a summary of the changes in the fair value of the Company’s contingent earnout liabilities, which are measured at fair value on a recurring basis utilizing Level 3 assumptions in their valuation:

						For the Three Months Ended June 30,												For the Six Months  Ended June 30,
(in thousands)						2026						2025						2026						2025
Balance at beginning of period						$	335,384					$	48,234					$	23,293					$	145,559
Change in fair value of contingent consideration(1)						12,303						(1,957)						14,272						6,104
Fair value of contingent consideration issuances						—						8,766						315,998						8,766
Settlement of contingent consideration(2)						(863)						(38,312)						(6,739)						(143,698)
Balance at end of period						$	346,824					$	16,731					$	346,824					$	16,731

__________

(1)    The Company reclassified $1.5 million and $(1.6) million of its contingent earnout liabilities through the issuance (reduction) of colleague earnout incentives during the three and six months ended June 30, 2025, respectively, which resulted in a reclassification between the change in fair value of contingent consideration and colleague compensation and benefits expense in the condensed consolidated statements of comprehensive income (loss).

(2)    The condensed consolidated statement of cash flows for the six months ended June 30, 2025 includes $5.6 million of payments of contingent earnout consideration related to non-cash settlements in prior periods.

Schedule of Financial Instruments Not Measured at Fair Value

The carrying amounts and estimated fair value of long-term debt and the revolving line of credit were as follows:

			Fair Value Hierarchy						June 30, 2026												December 31, 2025
(in thousands)									Carrying Amount						Estimated Fair Value						Carrying Amount						Estimated Fair Value
Long-term debt(1)			Level 2						$	2,193,045					$	2,157,201					$	1,603,606					$	1,620,092
Revolving line of credit			Level 2						302,000						298,415						107,000						107,985

__________

(1)    The carrying amount of long-term debt reflects outstanding borrowings, which are presented net of unamortized debt discount and issuance costs of $26.2 million and $24.9 million at June 30, 2026 and December 31, 2025, respectively, on the condensed consolidated balance sheets.

X

- Definition

Tabular disclosure of information about fair value of asset and liability not measured at fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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- References

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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/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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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