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Fair Value (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements of Liabilities Measured at Fair Value on Recurring Basis
The following tables summarize the fair value measurements of assets and liabilities that are measured at fair value on a recurring basis.
Fair Value Measurement as of December 31, 2024
Level 1Level 2Level 3Total
Fair Value
Assets
Money market mutual funds$111,950 $— $— $111,950 
Debt securities:
U.S. Treasuries27,102 — — 27,102 
Obligations of states, municipalities and political subdivisions— 11,872 — 11,872 
Corporate bonds— 70,896 — 70,896 
Residential and commercial mortgage-backed securities— 60,774 — 60,774 
Other loan-backed and structured securities— 12,107 — 12,107 
$139,052 $155,649 $— $294,701 
Liabilities
Contingent consideration - business combinations (1)
$— $— $83 $83 
Private warrant liability (2)
— — 460 460 
Embedded derivatives (3)
— — 22,262 22,262 
$— $— $22,805 $22,805 
Fair Value Measurement as of December 31, 2023
Level 1Level 2Level 3Total
Fair Value
Assets
Money market mutual funds$165,744 $— $— $165,744 
Debt securities:
U.S. Treasuries43,696 — — 43,696 
Obligations of states, municipalities and political subdivisions— 17,420 — 17,420 
Corporate bonds— 50,041 — 50,041 
Residential and commercial mortgage-backed securities— 24,601 — 24,601 
Other loan-backed and structured securities— 3,418 — 3,418 
$209,440 $95,480 $— $304,920 
Liabilities
Contingent consideration - business combinations (4)
$— $— $18,455 $18,455 
Private warrant liability (5)
— — 1,151 1,151 
Embedded derivatives (5)
— — 28,131 28,131 
$— $— $47,737 $47,737 
________________________________________________________
(1)The Consolidated Balance Sheets include less than $0.1 million in accrued expenses and other current liabilities and less than $0.1 million in other liabilities as of December 31, 2024, for contingent consideration related to business combinations.
(2)Private warrant liability is included in accrued expenses and other current liabilities in the Consolidated Balance Sheets as of December 31, 2024.
(3)Embedded derivatives balance is included in other liabilities in the Consolidated Balance Sheets as of December 31, 2024.
(4)The Consolidated Balance Sheets include $14.8 million in accrued expenses and other current liabilities and $3.7 million in other liabilities as of December 31, 2023, for contingent consideration related to business combinations.
(5)Private warrant liability and embedded derivatives balances are included in other liabilities in the Consolidated Balance Sheets as of December 31, 2023.
Schedule of Level 3 Items Measured at Fair Value on a Recurring Basis
The changes for Level 3 items measured at fair value on a recurring basis using significant unobservable inputs are as follows:
Contingent Consideration - Business CombinationsEmbedded DerivativesPrivate Warrant Liability
Fair value as of December 31, 2023$18,455 $28,131 $1,151 
Additions— — — 
Settlements(14,930)— — 
Change in fair value, loss (gain) included in net loss(1)
(3,442)(5,869)(691)
Fair value as of December 31, 2024$83 $22,262 $460 
Contingent Consideration - Earnout (2)
Contingent Consideration - Business CombinationsEmbedded DerivativesPrivate Warrant Liability
Fair value as of December 31, 2022$44 $24,546 $— $707 
Additions— — 23,870 — 
Settlements— (427)— — 
Change in fair value, loss (gain) included in net loss(1)
(44)(5,664)4,261 444 
Fair value as of December 31, 2023$— $18,455 $28,131 $1,151 
_________________________________________________________
(1)Changes in fair value of contingent consideration related to business combinations are included in general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Loss. Changes in fair value of the earnout contingent consideration, private warrant liability, and embedded derivatives are included in other income, net in the Consolidated Statements of Operations and Comprehensive Loss.
(2)The earnout contingent consideration period ended December 23, 2023, and the remaining liability was subsequently written off.