Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of September 30, 2024 and December 31, 2023 (amounts in thousands):

	As of September 30, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market accounts	$	669,347	$	—	$	—	$	669,347
Liabilities:
Current contingent consideration	$	—	$	—	$	13,936	$	13,936
	As of December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Money market accounts	$	658,574	$	—	$	—	$	658,574
Liabilities:
Current contingent consideration	$	—	$	—	$	12,983	$	12,983
Noncurrent contingent consideration	$	—	$	—	$	14,070	$	14,070

Schedule of Reconciliation of the Change in the Fair Value of Contingent Consideration - Earnout

A reconciliation of the change in the fair value of contingent consideration – earnouts is included in the following table (amounts in thousands):

Balance at December 31, 2023	$	27,053
Payment of contingent consideration earnouts		(13,117	)
Decrease in fair value of contingent consideration earnouts		—
Balance at September 30, 2024	$	13,936

Schedule of Contingent Consideration Earnout Expect to be Required to Settle Include Significant Unobservable Inputs

The recurring Level 3 fair value measurement of our contingent consideration obligations for Avitide, FlexBiosys and Metenova include the following significant unobservable inputs (amounts in thousands, except percent data):

Contingent Consideration Earnout	Fair Value as of  September 30, 2024		Valuation Technique	Unobservable Input	Range	Weighted Average(1)
				Probability of
				Success	100%	100%
Commercialization-based payments	$	9,678	Monte Carlo Simulation	Earnout Discount Rate	5.8%-5.9%	5.9%
				Volatility	12.5%-24.6%	13.9%
Revenue and Volume- based payments	$	361	Monte Carlo Simulation	Revenue & Volume Discount Rate	2.5%-9.3%	5.1%
				Earnout Discount Rate	5.8%-7.2%	5.8%
				Probability of  Success	100%	100%
Manufacturing line expansions	$	3,897	Probability-weighted present value	Earnout Discount Rate	6.1%-6.4%	6.3%

(1)Unobservable inputs were weighted by the relative fair value of the contingent consideration liability.