Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value

The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy as of June 30, 2023 and December 31, 2022, are summarized as follows:

	June 30, 2023
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	143,441	$	—	$	—	$	143,441
Total assets	$	143,441	$	—	$	—	$	143,441
Liabilities
Earn-outs treated as contingent consideration	$	—	$	—	$	15,418	$	15,418
Earn-outs treated as liability awards	—		—		8,985		8,985
Total liabilities	$	—	$	—	$	24,403	$	24,403

	December 31, 2022
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	308,295	$	—	$	—	$	308,295
Total assets	$	308,295	$	—	$	—	$	308,295
Liabilities
Earn-outs treated as contingent consideration	$	—	$	—	$	20,722	$	20,722
Earn-outs treated as liability awards	—		—		51,499		51,499
Total liabilities	$	—	$	—	$	72,221	$	72,221

Schedule of Changes in Fair Value of Level 3 Liabilities

The changes in fair value of the Level 3 liabilities are as follows:

	June 30, 2023		December 31, 2022
	(In thousands)
Balance, beginning of year	$	72,221	$	29,830
Additions in the period	—		61,920
Change in fair value of contingent consideration	(5,304)		(8,516)
Change in fair value of liability awards	(42,514)		(11,013)
Balance, end of period	$	24,403	$	72,221

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The estimated fair value of outstanding balances of our 2024 Notes and 2026 Notes are as follows:

	Level of Hierarchy	Fair Value		Principal Balance		Unamortized Issuance Costs		Net Carrying Value
		(In thousands)
June 30, 2023
2024 and 2026 Notes	2	$	407,800	$	589,992	$	(7,350)	$	582,642
December 31, 2022
2024 and 2026 Notes	2	$	512,900	$	747,500	$	(10,077)	$	737,423