Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Measurements

Summary of fair values and levels within the fair value hierarchy in which the fair value measurements fall for assets and liabilities measured on a recurring basis

The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements are included, for assets and liabilities measured on a recurring basis as of September 30, 2024 and December 31, 2023 (in thousands):

	Fair Value Measurements at September 30, 2024
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	415,583	$	—	$	—	$	415,583
Contingent earn-out obligations	$	—	$	—	$	103,238	$	103,238
	Fair Value Measurements at December 31, 2023
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	205,150	$	—	$	—	$	205,150
Life insurance—cash surrender value	$	—	$	7,473	$	—	$	7,473
Contingent earn-out obligations	$	—	$	—	$	44,222	$	44,222

Schedule of reconciliation of the fair value of contingent earn-out obligations that use significant unobservable inputs (Level 3)

The table below presents a reconciliation of the fair value of our contingent earn-out obligations that use significant unobservable inputs (Level 3) (in thousands):

	Nine Months Ended		Year Ended
	September 30, 2024		December 31, 2023
Balance at beginning of period	$	44,222	$	32,317
Issuances		51,784		4,315
Settlements		(37,202)		(16,017)
Adjustments to fair value		44,434		23,607
Balance at end of period	$	103,238	$	44,222