Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 (in thousands):

			Quoted Prices in				Significant Other
			Active Markets for		Significant Other		Unobservable
			Identical Assets		Observable Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Assets
Cash equivalents	$	1,596	$	1,596	$	—	$	—
Prepaid expenses and other current assets:
Foreign currency forward contracts		1,521		—		1,521		—
	$	3,117	$	1,596	$	1,521	$	—
Liabilities
Accrued expenses and other current liabilities:
Contingent considerations - Current	$	113	$	—	$	—	$	113
Foreign currency forward contracts		794		—		794		—
Other liabilities:
Contingent considerations - Long-term		274		—		—		274
	$	1,181	$	—	$	794	$	387

The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 (in thousands):

			Quoted Prices in				Significant Other
			Active Markets for		Significant Other		Unobservable
			Identical Assets		Observable Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Assets
Cash equivalents	$	1,711	$	1,711	$	—	$	—
Prepaid expenses and other current assets:
Foreign currency forward contracts		137		—		137		—
	$	1,848	$	1,711	$	137	$	—
Liabilities
Accrued expenses and other current liabilities:
Contingent considerations - Current	$	47,522	$	—	$	—	$	47,522
Foreign currency forward contracts		160		—		160		—
Other liabilities:
Contingent considerations - Long-term		3,402		—		—		3,402
	$	51,084	$	—	$	160	$	50,924

Changes in Fair Value of Level 3 Contingent Considerations

Changes in the fair value of Level 3 contingent considerations during the nine months ended September 30, 2022 were as follows (in thousands):

	Amount
Balance at December 31, 2021	$	50,924
Payments		(48,725	)
Fair value adjustments		(1,382	)
Effect of foreign exchange rates		(430	)
Balance at September 30, 2022	$	387