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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Summary of financial assets measured at fair value on a recurring basis
The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2024 and December 31, 2023 by level within the fair value hierarchy. The current and non-current portions of contingent consideration reside within “Accrued expenses and other current liabilities” and “Other liabilities”, respectively, within the condensed consolidated balance sheet. These assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):
 At June 30, 2024At December 31, 2023
  Total Fair Total Fair
Level 1Level 2Level 3ValueLevel 1Level 2Level 3Value
Assets:
Cash equivalents$122,883 $— $— $122,883 $119,735 $— $— $119,735 
Total assets$122,883 $— $— $122,883 $119,735 $— $— $119,735 
At June 30, 2024At December 31, 2023
 Total Fair Total Fair
Level 1Level 2Level 3ValueLevel 1Level 2Level 3Value
Liabilities:
Contingent consideration, current$— $— $3,771 $3,771 $— $— $1,981 $1,981 
Contingent consideration, non-current— — — — — — 3,611 3,611 
Total liabilities$— $— $3,771 $3,771 $— $— $5,592 $5,592 
Schedule of changes in fair value of contingent consideration obligation
The following table summarizes the changes in the contingent consideration obligation related to the Company’s acquisition of Digital Motors (in thousands):
 Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Fair value, beginning of period$3,684 $5,252 $5,592 $6,661 
Cash payments— — (2,000)(2,000)
Changes in fair value87 64179655 
Fair value, end of period$3,771 $5,316 $3,771 $5,316