Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement Inputs and Valuation Techniques

The valuation of the Private Warrants as of March 31, 2022 was determined using the Black-Scholes option pricing model using the following assumptions:

Expected term (in years)		4.3
Expected volatility		35	%
Expected dividend yield		0	%
Risk-free interest rate		2.43	%
Fair value at valuation date	$	3.39

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at March 31, 2022 (in thousands):

Liabilities	Fair Value		Level 1		Level 2		Level 3
Contingent consideration related to business acquisition	$	200	$	—	$	—	$	200
Private warrants		60,342		—		60,342		—
Total	$	60,542	$	—	$	60,342	$	200

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at December 31, 2021 (in thousands):

Liabilities	Fair Value		Level 1		Level 2		Level 3
Private warrants	$	62,478	$	—	$	62,478	$	—
Total	$	62,478	$	—	$	62,478	$	—

Summary of Carrying Amounts and Estimated Fair Value of the Financial Instruments

The following table presents the carrying amounts, net of debt discount, and estimated fair values of the Company’s financial instruments that are not recorded at fair value on the condensed consolidated balance sheets (in thousands):

	March 31, 2022				December 31, 2021
	Carrying		Estimated		Carrying		Estimated
Description	Amount		Fair Value		Amount		Fair Value
Term B Loan, including current portion	$	796,139	$	791,018	$	798,073	$	799,000