Fair Value Measurements

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

4. Fair Value Measurements

The Company measures certain financial assets and liabilities at fair value on a recurring basis, including short-term and long-term investments and contingent consideration. Additionally, the Company switched banks and the money market accounts are in bank deposits and are not quoted instruments. As such they are all considered cash.  The fair value of these financial assets and liabilities for was determined based on three levels of input as follows: 

• Level 1. Quoted prices in active markets for identical assets and liabilities;

• Level 2. Observable inputs other than quoted prices in active markets; and

• Level 3. Unobservable inputs.

The fair value hierarchy of the Company’s financial assets carried at fair value and measured on a recurring basis is as follows:

			Fair Value Measurements at Reporting Date Using
	For the three months ended		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments(1)	$	4,887	$	—	$	4,887	$	—
Total assets	$	4,887	$	—	$	4,887	$	—
Liabilities:
Contingent consideration - current (2)	$	613	$	—	$	—	$	613
Contingent consideration - non-current (2)		366		—		—		366
Total liabilities	$	979	$	—	$	—	$	979

(1) Short-term U.S. Treasury securities, their fair value is calculated using an interest rate yield curve for similar instruments.

(2) The Company’s valuation techniques and Level 3 inputs used to estimate the fair value of contingent consideration payable in connection with the acquisition are described in Note 14.