Contingent Earn-Out Consideration

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Contingent Earn-Out Consideration

NOTE 7. CONTINGENT EARN-OUT CONSIDERATION

The following table provides a reconciliation of our Level 3 earn-out liabilities for the year ended December 31, 2021:

Balance at December 31, 2020	$	—
Acquisition date fair value of earn-out liabilities		2,870
Achieved milestone reclassified to accrued expenses		(1,000	)
Change in fair value of earn-out liabilities		440
Balance at December 31, 2021	$	2,310

The current portion of contingent earn-out liability is included in Other-current liabilities and the non-current portion is included in Other long-term liabilities on the Consolidated Balance Sheet. As of December 31, 2021, the current portion was $1,470. During the year ended December 31, 2021, we reassessed the estimate of the earn-out liabilities which resulted in a net increase of $440 recorded in Other (expense) income within the Consolidated Statement of Operations and Comprehensive (Loss) Income for the year ended December 31, 2021. In addition we completed our first project milestone as of December 31, 2021 and have included the $1,000 liability in Accrued expenses on the Consolidated Balance Sheet. We made no cash payments for contingent earn-out consideration during the year ended December 31, 2021.