| Schedule of fair value hierarchy |
The carrying values of our assets that are required to be measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above (in thousands): | | | | | | | | | | | | | | | Fair Value Measurements | | | Level 1 | | Level 2 | | Level 3 | | Total | June 30, 2026 | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Money market mutual fund | | $ | 230,846 | | $ | — | | $ | — | | $ | 230,846 | Mutual funds | | | 98,712 | | | — | | | — | | | 98,712 | U.S. Treasury notes | | | 9,953 | | | — | | | — | | | 9,953 | Corporate debt securities | | | 18,761 | | | — | | | — | | | 18,761 | | | $ | 358,272 | | $ | — | | $ | — | | $ | 358,272 | Liabilities: | | | | | | | | | | | | | 2026 Convertible Senior Notes | | $ | — | | $ | 185,687 | | $ | — | | $ | 185,687 | Contingent consideration | | | — | | | — | | | 652 | | | 652 | | | $ | — | | $ | 185,687 | | $ | 652 | | $ | 186,339 |
| | | | | | | | | | | | | | | Fair Value Measurements | | | Level 1 | | Level 2 | | Level 3 | | Total | December 31, 2025 | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Money market mutual fund | | $ | 208,124 | | $ | — | | $ | — | | $ | 208,124 | Mutual funds | | | 99,182 | | | — | | | — | | | 99,182 | U.S. Treasury notes | | | 19,838 | | | — | | | — | | | 19,838 | Corporate debt securities | | | 41,694 | | | — | | | — | | | 41,694 | | | $ | 368,838 | | $ | — | | $ | — | | $ | 368,838 | Liabilities: | | | | | | | | | | | | | 2026 Convertible Senior Notes | | $ | — | | $ | 185,094 | | $ | — | | $ | 185,094 | Contingent consideration | | | — | | | — | | | 629 | | | 629 | | | $ | — | | $ | 185,094 | | $ | 629 | | $ | 185,723 |
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| Schedule of estimated fair values and the carrying values |
The following table presents the estimated fair values and the carrying values (in thousands): | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | Carrying Value | | Fair Value | | Carrying Value | | Fair Value | 2026 Convertible Senior Notes | | $ | 185,687 | | $ | 181,361 | | $ | 185,094 | | $ | 176,579 |
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