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Acquisition (Tables)
 3 Months Ended
Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The preliminary purchase price allocation is set forth in the table below and expected to be finalized as soon as practicable but no later than one year from the closing date.
(in thousands)
Consideration:
Cash$28,500 
Contingent consideration payments (1)
8,419 
Common equity of acquiring entity330 
Less: cash and restricted cash acquired(278)
Total purchase consideration, net of cash and restricted cash acquired$36,971 
Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable$831 
Prepaid expenses469 
Settlement assets8,277 
Equipment, net47 
Goodwill(3)
7,261 
Intangible assets(2)
30,460 
Accounts payable and accrued expenses(1,881)
Customer deposits(214)
Settlement obligations(8,279)
Total purchase consideration$36,971 
(1)The fair value of the contingent consideration payments issued was determined utilizing a Monte Carlo simulation. The contingent consideration payments were calculated based on the path for the simulated metrics and the contractual terms of the contingent consideration payments and were discounted to present value at a rate reflecting the risk associated with the payoffs. The fair value was estimated to be the average present value of the contingent consideration payments over all iterations of the simulation.
(2)The intangible assets acquired consist of $13.0 million for customer relationships, $7.0 million for referral partner relationships, $6.5 million for technology and $3.9 million for trade name.
(3)During the first quarter of 2024, the Company recorded an immaterial measurement period adjustment due to a pre-acquisition tax accrual which resulted in an adjustment to goodwill and accounts payable and accrued expenses.