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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Summary of Fair Value Measurements, Recurring and Nonrecurring

The following tables present the Company’s fair value hierarchy for its assets and liabilities which are measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022 (in thousands):

 

 

 

Fair Value Measurements at March 31, 2023 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

24,990

 

 

$

 

 

$

 

 

$

24,990

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liability associated with
   acquisition of PolicyFuel included in other
   long-term liabilities

 

$

 

 

$

 

 

$

37

 

 

$

37

 

 

 

$

 

 

$

 

 

$

37

 

 

$

37

 

 

 

 

Fair Value Measurements at December 31, 2022 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

15,812

 

 

$

 

 

$

 

 

$

15,812

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liability associated with
  acquisition of PolicyFuel included in accrued expenses
  and other current liabilities

 

$

 

 

$

 

 

$

25

 

 

$

25

 

Contingent consideration liability associated with
  acquisition of PolicyFuel included in other
  long-term liabilities

 

 

 

 

 

 

 

 

125

 

 

 

125

 

 

 

$

 

 

$

 

 

$

150

 

 

$

150

 

Summary of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a roll-forward of the aggregate fair values of the Company’s contingent consideration liabilities for which fair value is determined by Level 3 inputs (in thousands):

 

 

Contingent

 

 

 

Consideration

 

 

 

Liabilities

 

Fair value at December 31, 2022

 

$

150

 

Change in fair value of contingent consideration related
   to PolicyFuel acquisition

 

 

(113

)

Fair value at March 31, 2023

 

$

37