Fair value (Tables)

12 Months Ended

Dec. 31, 2023

Reconciliation of acquisition-related contingent consideration payable

A reconciliation of the beginning and ending balances of Level 3 acquisition-related contingent consideration payable using significant unobservable inputs for the years ended December 31, 2023, 2022 and 2021 are as follows:


	Amount
	(in thousands)
Contingent consideration payable as of January 1, 2021	$	1,947
Acquisition date fair value of contingent consideration payable — Tacit	4,000
Change in fair value of contingent consideration payable included in Other income/(expense), net — Daxx	(14)
Change in fair value of contingent consideration payable included in Other income/(expense), net — Tacit	1,000
Contingent consideration payable as of December 31, 2021	$	6,933
Acquisition date fair value of contingent consideration payable — Mutual Mobile	3,288
Payment of contingent consideration — Daxx	(1,933)
Payment of contingent consideration — Tacit	(5,000)
Contingent consideration payable as of December 31, 2022	$	3,288
Acquisition date fair value of contingent consideration payable — NextSphere	932
Change in fair value of contingent consideration payable included in Other income/(expense), net — Mutual Mobile	(3,288)
Change in fair value of contingent consideration payable included in Other income/(expense), net — NextSphere	(932)
Contingent consideration payable as of December 31, 2023	$	—

Financial assets and liabilities not measured at fair value on a recurring basis

The following tables present the estimated fair values of the Company’s financial assets and liabilities not measured at fair value on a nonrecurring basis as of the dates indicated:


					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Financial Assets:
Cash equivalents:
Money market funds	$	204,388	$	204,388	$	204,388	$	—	$	—

December 31, 2022
Financial Assets:
Cash equivalents:
Money market funds	$	205,787	$	205,787	$	205,787	$	—	$	—