Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that were measured at fair value on a recurring basis (in thousands):

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents - money market funds	$	205,010	$	—	$	—	$	205,010
Liabilities:
Contingent consideration liability	$	—	$	—	$	2,800	$	2,800

	December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents - money market funds	$	4,405	$	—	$	—	$	4,405
Liabilities:
Contingent consideration liability	$	—	$	—	$	3,365	$	3,365

Changes in Fair Value of Contingent Consideration Liability

The Company’s recurring fair value measurements using Level 3 inputs relate to the Company’s contingent consideration liability, as the significant inputs to the valuation are not observable in the market (refer to Note 5 - Acquisitions). Changes in the fair value of the Company’s contingent consideration liability were as follows (in thousands):

Balance as of December 31, 2019	$	—
Contingent consideration liability recorded in connection with acquisitions		4,608
Payment of contingent consideration		(1,500	)
Change in fair value		257
Balance as of December 31, 2020		3,365
Payment of contingent consideration		(1,868	)
Change in fair value		1,303
Balance as of December 31, 2021	$	2,800