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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Financial Instruments Measured at Fair Value

The following is a summary of our financial instruments measured at fair value on a recurring basis (in thousands):

March 31, 2024						Level 1						Level 2						Level 3						Total
Cash equivalents:
Money market funds						$	23,958					$	—					$	—					$	23,958
Certificates of deposit						3,884						—						—						3,884
Total assets						$	27,842					$	—					$	—					$	27,842
Long-term liabilities:
Contingent consideration						—						—						(46,420)						(46,420)
Total liabilities						$	—					$	—					$	(46,420)					$	(46,420)

December 31, 2023						Level 1						Level 2						Level 3						Total
Cash equivalents:
Money market funds						$	22,802					$	—					$	—					$	22,802
Certificates of deposit						3,968						—						—						3,968
Total assets						$	26,770					$	—					$	—					$	26,770
Long-term liabilities:
Contingent consideration						—						—						(63,890)						(63,890)
Total liabilities						$	—					$	—					$	(63,890)					$	(63,890)

Summary of Reconciliation of Changes in Fair Value of Level 3 Liabilities

Changes in fair value of Level 3 assets and liabilities are listed in the table below (in thousands):

			Contingent Consideration
Balance as of December 31, 2023			$	(63,890)
Change in valuation			17,470
Balance as of March 31, 2024			$	(46,420)

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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- References

No definition available.

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X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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