FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis

The following tables reflect the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2021 (in thousands):


December 31, 2022	Financial Statement Classification	Level 1		Level 2		Level 3		Total
Assets:
Commercial paper	Cash and cash equivalents	$	—	$	4,983	$	—	$	4,983
U.S. Treasuries	Cash and cash equivalents	—		3,981		—		3,981
U.S. Government agencies	Cash and cash equivalents	—		10,937		—		10,937
Money market funds	Cash and cash equivalents	38,478		—		—		38,478
Total		$	38,478	$	19,901	$	—	$	58,379
Liabilities:
Short-term contingent consideration	Contingent consideration, current portion	$	—	$	—	$	26,300	$	26,300
Long-term contingent consideration	Contingent consideration	—		—		22,200		22,200
Derivative liability	Long-term debt	—		—		252		252
Total		$	—	$	—	$	48,752	$	48,752


December 31, 2021	Financial Statement Classification	Level 1		Level 2		Level 3		Total



Liabilities:
Short-term contingent consideration	Contingent consideration, current portion	$	—	$	—	$	14,500	$	14,500
Long-term contingent consideration	Contingent consideration	—		—		23,159		23,159
Total		$	—	$	—	$	37,659	$	37,659

Schedule of changes in fair value of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs

The following table summarizes changes in fair value of the contingent consideration that is measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2022, and 2021 (in thousands):


	December 31,
	2022		2021
Fair value, beginning of the period	$	37,659	$	38,552

Change in fair value of contingent consideration recorded within costs and expenses	18,687		3,914
Cash payment related to contingent consideration	(7,846)		(4,807)
Fair value, end of the period	$	48,500	$	37,659