Fair Value Measurements of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of June 30, 2024, are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market accounts*	$	27,000	$	—	$	—	$	27,000
Marketable securities – certificates of deposit		2,236		—		—		2,236
Marketable securities – equity securities		147		—		—		147
Interest rate collar		—		401		—		401
Total assets	$	29,383	$	401	$	—	$	29,784
Liabilities
AAMG contingent consideration	$	—	$	—	$	7,407	$	7,407
VOMG contingent consideration		—		—		17		17
DMG remaining equity interest purchase		—		—		8,542		8,542
Sun Labs remaining equity interest purchase		—		—		7,278		7,278
ADSC contingent considerations		—		—		3,632		3,632
CFC contingent considerations		—		—		8,694		8,694
PCCCV contingent considerations		—		—		2,597		2,597
Total liabilities	$	—	$	—	$	38,167	$	38,167

* Included in cash and cash equivalents

The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2023, are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market accounts*	$	4,842	$	—	$	—	$	4,842
Marketable securities – certificates of deposit		2,150		—		—		2,150
Marketable securities – equity securities		348		—		—		348
Total assets	$	7,340	$	—	$	—	$	7,340
Liabilities
AAMG contingent consideration	$	—	$	—	$	5,475	$	5,475
VOMG contingent consideration		—		—		17		17
DMG remaining equity interest purchase		—		—		8,542		8,542
Sun Labs remaining equity interest purchase		—		—		7,802		7,802
Interest rate collar		—		252		—		252
Total liabilities	$	—	$	252	$	21,836	$	22,088

* Included in cash and cash equivalents

Schedule of Change in Fair Value of Level 3 Liabilities

The change in the fair value of Level 3 liabilities for the three months ended June 30, 2024, was as follows (in thousands):

	Amount
Balance at January 1, 2024	$	21,836
Additions		14,187
Change in fair value of existing Level 3 liabilities		2,144
Balance at June 30, 2024	$	38,167

Schedule of Gain (Loss) on Equity Securities

The components comprising total gains and losses on equity securities are as follows (in thousands) for the periods listed below:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Total losses recognized on equity securities	$	(85	)	$	(1,348	)	$	(200	)	$	(5,701	)
Gains recognized on equity securities sold		—			—			—			—
Unrealized losses recognized on equity securities held at end of period	$	(85	)	$	(1,348	)	$	(200	)	$	(5,701	)