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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
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):

 

 

September 30, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents - money market funds

 

$

276,604

 

 

$

 

 

$

 

 

$

276,604

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liability

 

$

 

 

$

 

 

$

1,475

 

 

$

1,475

 

 

 

 

December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents - money market funds

 

$

225,712

 

 

$

 

 

$

 

 

$

225,712

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liability

 

$

 

 

$

 

 

$

 

 

$

 

Changes in Fair Value of Contingent Consideration Liabilities Changes in the fair value of the Company’s contingent consideration liabilities were as follows (in thousands):

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

Beginning balance

 

$

 

 

$

2,800

 

Contingent consideration recorded at acquisition

 

 

1,475

 

 

 

 

Payment of contingent consideration

 

 

 

 

 

(2,800

)

Change in fair value

 

 

 

 

 

 

Ending balance

 

$

1,475

 

 

$