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Contingent Consideration (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis
The following table summarizes information about the Company’s contingent consideration arrangements measured at fair value on a recurring basis, grouped into Level 1 to 3 based on the degree to which the input to fair value is observable (in thousands):
December 31, 2023
Level 1Level 2Level 3Total
DBOT - Contingent Considerationa
$— $— $649 $649 
Tree Technology - Contingent Considerationb
— — 78 78 
Solectrac - Contingent Considerationc
— — — — 
VIA - Contingent considerationd
$— $— $— $— 
Total$— $— $727 $727 
December 31, 2022
Level 1Level 2Level 3Total
DBOT - Contingent Considerationa
$— $— $649 $649 
Tree Technology - Contingent Considerationb
— — 118 118 
Solectrac - Contingent Considerationc
— — 100 100 
Total$— $— $867 $867 
Schedule of Significant Inputs and Assumptions
The following table summarizes the significant inputs and assumptions used in the probability-weighted discounted cash flow
approach:
December 31, 2022
Weighted-average cost of capital
15.0%
Probability
5%-20%
The following table summarizes the significant inputs and assumptions used in the model:
December 31, 2022
Risk-free interest rate3.4 %
Expected volatility25.0 %
Expected discount rate13.1 %
The following table summarizes the significant inputs and assumptions used in the model:
January 31 2023
Risk-free interest rate3.7 %
Expected volatility65.0 %
Expected discount rate13.9 %
Schedule of Reconciliation of Level 3 Fair Value Measurements
The following table summarizes the reconciliation of contingent consideration measured using Level 3 inputs (in thousands):
Contingent
Consideration
December 31 2021
999 
Remeasurement loss/(gain) recognized in the income statement(132)
December 31 2022$867 
Addition
73,628 
Remeasurement loss/(gain) recognized in the income statement(73,768)
December 31 2023
727