Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities

The Company’s financial assets and liabilities subject to fair value measurements, as of December 31, 2022 and 2021 were as follows: 

	As of December 31, 2022								As of December 31, 2021
(in thousands)	Fair value		Level 1		Level 2		Level 3		Fair value		Level 1		Level 2		Level 3
Assets:
Forward contracts	$	916	$	—	$	916	$	—	$	494	$	—	$	494	$	—
Total assets	$	916	$	—	$	916	$	—	$	494	$	—	$	494	$	—
Liabilities:
Contingent consideration	$	—	$	—	$	—	$	—	$	6,960	$	—	$	—	$	6,960
Forward contracts	1,241		—		1,241		—		46		—		46		—
Total liabilities	$	1,241	$	—	$	1,241	$	—	$	7,006	$	—	$	46	$	6,960

The Company's Level 3 balance consists of contingent consideration related to acquisitions. The changes in the Company's Level 3 liabilities for the years ended December 31, 2022 and 2021 were as follows:

(in thousands)	Balance at Beginning of the Year	Adjustments(1)(2)	Transfer out of Level 3(3)	Balance at End of the Year
2022:
Liabilities:
Contingent consideration	$6,960	(5,807)	(1,153)	$—
2021:
Liabilities:
Contingent consideration	$207	11,862	(5,109)	$6,960