Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring and Non-recurring Basis

The assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized in the tables below:

	Fair Value as of September 30, 2022
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Equity investments	$	20,075	$	-	$	-	$	20,075
Total assets within the fair value hierarchy	$	20,075	$	-	$	-	$	20,075
Investments valued at net asset value							$	20,549
Total assets							$	40,624
Liabilities:
Participation feature of Series A-2 Preferred Stock	$	-	$	-	*		*
Contingent consideration liability		-		-		1,709		1,709
Total liabilities	$	-	$	-	$	1,709	$	1,709

	Fair Value as of June 30, 2022
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Equity investments	$	27,678	$	-	$	-	$	27,678
Equity investments of Consolidated Fund		1,797		-		-		1,797
Total assets within the fair value hierarchy	$	29,475	$	-	$	-	$	29,475
Investments valued at net asset value							$	20,363
Total assets							$	49,838
Liabilities:
Participation feature of Series A-2 Preferred Stock	$	-	$	-	*		*
Contingent consideration liability		-		-		1,767		1,767
Total liabilities	$	-	$	-	$	1,767	$	1,767

*Balance eliminates in consolidation.

Reconciliation of Changes in Contingent Consideration, Level 3 Liability

The following is a reconciliation of changes in contingent consideration, a Level 3 liability:

	For the three months ended September 30,
(in thousands)	2022			2021
Beginning balance	$	1,767		$	271
Additions		-			497
Change in fair value		(58	)		(163	)
Ending balance	$	1,709		$	605