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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instruments Measured On Recurring Basis
The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands):
June 30, 2025Level 1Level 2Level 3Fair ValueCarrying Value
Assets:
Cash equivalents:
Money market and other funds$111,914 $— $— $111,914 $111,914 
Long-term investments:
Investment in corporate debt securities— — 18,534 18,534 18,534 
Total assets measured at fair value$111,914 $— $18,534 $130,448 $130,448 
Liabilities:
Contingent consideration$— $— $6,381 $6,381 $6,381 
Total liabilities measured at fair value$— $— $6,381 $6,381 $6,381 
December 31, 2024Level 1Level 2Level 3Fair ValueCarrying Value
Assets:
Cash equivalents:
Money market and other funds$85,833 $— $— $85,833 $85,833 
Long-term investments:
Investment in corporate debt securities— — 17,788 17,788 17,788 
Total assets measured at fair value$85,833 $— $17,788 $103,621 $103,621 
Liabilities:
Contingent consideration$— $— $2,834 $2,834 $2,834 
Total liabilities measured at fair value$— $— $2,834 $2,834 $2,834 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents a reconciliation of the Company’s Level 3 financial assets related to our contingent consideration arrangements and investment in corporate debt securities that are measured at fair value on a recurring basis (in thousands):
Six months ended June 30,
20252024
Contingent Consideration ArrangementsCorporate Debt SecuritiesContingent Consideration ArrangementsCorporate Debt Securities
Balance as of January 1$2,834 $17,788 $2,834 $15,699 
Fair value at date of acquisition5,865 — — — 
Fair value adjustments (1)
(2,318)746 — 360 
Balance as of June 30$6,381 $18,534 $2,834 $16,059 
(1)The fair value adjustments to the contingent consideration arrangements in the table above were recorded within ‘General, administrative, and other related costs’ in the Condensed Consolidated Statements of Operations during the six months ended June 30, 2025 and relate to changes in the expected payout against financial targets. The fair value adjustments to the corporate debt securities in the table above were recorded in ‘Change in fair value on available-for-sale investments, net’ in the Condensed Consolidated Statements of Comprehensive Income (Loss) during the six months ended June 30, 2025 and 2024.
Schedule of Carrying and Fair Values
The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes (in thousands):
June 30, 2025December 31, 2024
Carrying ValueFair ValueCarrying ValueFair Value
4.625% Senior Notes
$460,038 $423,235 $457,211 $420,935 
1.75% Convertible Notes
$149,109 $141,803 $148,186 $139,976 
3.625% Convertible Notes
$263,147 $247,221 $258,885 $259,200