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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy of Financial Instruments

The fair value hierarchy of financial instruments measured at fair value as of June 30, 2022 is provided below.

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets measured at fair value:

 

 

 

 

 

 

 

 

 

Derivative financial asset

 

 

 

 

 

8,788

 

 

 

 

 

 

$

-

 

 

 

8,788

 

 

$

—

 

Financial liabilities measured at fair value:

 

 

 

 

 

 

 

 

 

Contingent consideration payable

 

 

-

 

 

 

-

 

 

 

25,141

 

Warrant liabilities (2)

 

 

13,174

 

 

 

1,347

 

 

 

-

 

Liability for share-based compensation

 

 

-

 

 

 

-

 

 

 

12,310

 

 

 

$

13,174

 

 

$

1,347

 

 

$

37,451

 

 

The fair value hierarchy of financial instruments measured at fair value as of December 31, 2021 is provided below.

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets measured at fair value:

 

 

 

 

 

 

 

 

 

Contingent consideration receivable (1)

 

$

—

 

 

$

—

 

 

$

2,842

 

 

 

$

—

 

 

$

—

 

 

$

2,842

 

Financial liabilities measured at fair value:

 

 

 

 

 

 

 

 

 

Contingent consideration payable

 

 

-

 

 

 

-

 

 

 

29,689

 

Warrant liabilities (2)

 

 

32,275

 

 

 

3,300

 

 

 

-

 

Liability for share-based compensation

 

 

-

 

 

 

-

 

 

 

10,024

 

 

 

$

32,275

 

 

$

3,300

 

 

$

39,713

 

 

(1)
The contingent consideration receivable balance related to a receivable recorded upon the disposal of a subsidiary in the prior year. During the three and six months ended June 30, 2022 , the receivable was settled for $2,621 with the remainder relating to foreign exchange.
(2)
Level 2 warrant liabilities represent the fair value of private warrants which is estimated using the price of the Company's public warrants.
Schedule of Fair Value Measurement Inputs and Valuation Techniques

The valuation techniques and significant unobservable inputs used in determining the fair value measurement of Level 3 financial instruments is set out in the table below. Other than this input, a reasonably possible change in one or more of the unobservable inputs listed below would not materially change the fair value of financial instruments listed below.

 

Financial instrument

 

Valuation technique used

 

Significant unobservable inputs

Contingent consideration payable

 

Discounted cashflow

 

Discount rate of 7.1%

Liability for share-based compensation

 

Market and income approach

 

Discount rate of 16.5%