Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2024

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 June 28, 2024 (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	$	623	$	623	$	—	$	—
Prepaid expenses and other current assets:
Foreign currency forward contracts		1		—		1		—
	$	624	$	623	$	1	$	—
Liabilities
Accrued expenses and other current liabilities:
Contingent considerations - Current	$	46	$	—	$	—	$	46
Foreign currency forward contracts		406		—		406		—
Other liabilities:
Contingent considerations - Long-term		301		—		—		301
	$	753	$	—	$	406	$	347

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, 2023 (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	$	1,392	$	1,392	$	—	$	—
Prepaid expenses and other current assets:
Foreign currency forward contracts		379		—		379		—
	$	1,771	$	1,392	$	379	$	—
Liabilities
Accrued expenses and other current liabilities:
Contingent considerations - Current	$	48	$	—	$	—	$	48
Foreign currency forward contracts		312		—		312		—
Other liabilities:
Contingent considerations - Long-term		311		—		—		311
	$	671	$	—	$	312	$	359

Changes in Fair Value of Level 3 Contingent Considerations

Changes in the fair value of Level 3 contingent considerations during the six months ended June 28, 2024 were as follows (in thousands):

	Amount
Balance at December 31, 2023	$	359
Payments		—
Fair value adjustments		—
Effect of foreign exchange rates		(12	)
Balance at June 28, 2024	$	347