v3.25.4

Fair value (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair value measurements, recurring and nonrecurring

The following table summarizes certain fair value information as of December 31,

2025 and 2024 for financial assets and liabilities measured at fair value on a recurring basis, as well as estimated fair values of certain other financial assets and liabilities not measured on a recurring basis:

															Fair Value Hierarchy
			Balance						Estimated Fair Value						Level 1						Level 2						Level 3
			(in thousands)
December 31, 2025
Financial Assets:
Cash equivalents:
Money market funds			$	271,513					$	271,513					$	271,513					$	—					$	—
Foreign exchange derivative assets			$	196					$	196					$	—					$	196					$	—
Long-term investments:
Non-marketable equity securities(1)			$	1,250
Financial Liabilities:
Contingent consideration payable			$	3,370					$	3,370					$	—					$	—					$	3,370
December 31, 2024
Financial Assets:
Cash equivalents:
Money market funds			$	267,206					$	267,206					$	267,206					$	—					$	—
Long-term investments:
Non-marketable equity securities(1)			$	1,250
Financial Liabilities:
Contingent consideration payable			$	9,729					$	9,729					$	—					$	—					$	9,729

__________________________

(1)Equity securities that do not have readily determinable fair value and are measured at cost.

Contingent consideration measurement inputs

The following table presents the weighted average discount rates for risk-free performance targets and time value used to determine fair values of contingent considerations payables for acquisitions completed during the years ended December 31, 2024 and 2023:

			Mobile Computing						JUXT						NextSphere						Mutual Mobile
Weighted average discount rate for risk-free performance targets			22.9		%				14.7		%				15.5		%				10.3		%
Discount rate for credit risk and time value			2.8		%				2.8		%				7.7		%				3.0		%

Reconciliation of acquisition-related contingent consideration payable

A reconciliation of the beginning and ending balances of Level 3 acquisition-related contingent consideration payable using significant unobservable inputs for the years ended December 31, 2025, 2024, and 2023 are as follows:

						Amount
						(in thousands)
Contingent consideration payable as of January 1, 2023						$	3,288
Acquisition date fair value of contingent consideration payable — NextSphere						932
Change in fair value of contingent consideration payable included in Other income/(expense), net — NextSphere						(932)
Change in fair value of contingent consideration payable included in Other income/(expense), net — Mutual Mobile						(3,288)
Contingent consideration payable as of December 31, 2023						$	—
Acquisition date fair value of contingent consideration payable — JUXT						7,480
Acquisition date fair value of contingent consideration payable — Mobile Computing						2,700
Effect of net foreign currency exchange rate changes						(451)
Contingent consideration payable as of December 31, 2024						$	9,729
Change in fair value of contingent consideration payable included in Other income, net –– JUXT						(7,176)
Change in fair value of contingent consideration payable included in Other income, net –– Mobile Computing						300
Effect of net foreign currency exchange rate changes						$	517
Contingent consideration payable as of December 31, 2025						$	3,370

X

- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

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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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