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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of the Significant Assumptions Used for the Fair Value Measurement of the Contingent Consideration Liability The following is the summary of the significant assumptions used for the fair value measurement of the contingent consideration liability as of June 30, 2022 and December 31, 2021.

Valuation Technique

 

Range of Significant Assumptions

 

 

 

 

June 30, 2022

 

December 31, 2021

Probability-weighted analysis

 

Probability

 

50% - 100%

 

50% - 100%

based earn-outs

 

Discount rate

 

6.00%

 

8.60%

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis:

June 30, 2022

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Instrument

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liability

 

$

 

 

$

 

 

$

12,637

 

 

$

12,637

 

 

December 31, 2021

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Instrument

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liability

 

$

 

 

$

 

 

$

17,430

 

 

$

17,430