Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Measurements

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):

		As of September 30, 2024
		Carrying		Fair		Fair Value Measurements
		Amount		Value		Level 1		Level 2		Level 3
Liabilities
Contingent consideration	$	91,987	$	91,987	$	—	$	—	$	91,987

	As of December 31, 2023
	Carrying	Fair	Fair Value Measurements
	Amount	Value	Level 1	Level 2	Level 3
Liabilities
Contingent consideration	126,216	126,216	—	—	126,216

Schedule of assets and liabilities measured at fair value on a recurring basis that have unobservable inputs

In the unaudited interim condensed consolidated balance sheets, contingent consideration is recorded in the contingent consideration, loss accrual for service contracts, and other current liabilities financial statement line item, and was comprised of the following unobservable inputs as of September 30, 2024:

Financial Instrument	Fair Value		Valuation Technique	Unobservable Input	Range (weighted average)
Contingent consideration	$	91,987	Scenario based method	Credit spread	12.21% - 13.51%
				Discount rate	15.73% - 18.38%
		91,987

In the unaudited interim condensed consolidated balance sheets, contingent consideration is recorded in the contingent consideration, loss accrual for service contracts, and other current liabilities financial statement line item, and was comprised of the following unobservable inputs as of December 31, 2023:

Financial Instrument	Fair Value		Valuation Technique	Unobservable Input	Range (weighted average)
Contingent consideration	$	126,216	Scenario based method	Credit spread	13.61%
				Discount rate	17.71% - 19.06%
		126,216

Schedule of activity in the level 3 liabilities

The change in the carrying amount of Level 3 liabilities during the nine months ended September 30, 2024 was as follows (in thousands):

	Nine months ended
	September 30, 2024
Beginning balance as of December 31, 2023	$	126,216
Cash payments		(10,000)
Change in fair value of contingent consideration		(9,200)
Foreign currency translation adjustment		(690)
Ending balance as of March 31, 2024	$	106,326
Cash payments		(1,000)
Payment settled in common stock and warrants		(18,241)
Change in fair value of contingent consideration		3,768
Foreign currency translation adjustment		(233)
Ending balance as of June 30, 2024	$	90,620
Cash payments		(57)
Change in fair value of contingent consideration		146
Foreign currency translation adjustment		1,278
Ending balance as of September 30, 2024	$	91,987