v3.22.4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarize the assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2021, respectively.
| December 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial Assets |  |  |  |  |  |  |
Short term investments |  |  |  |  |  |  |
Certificates of Deposit | $ | — |  |  | $ | 25,148 |  |  | $ | — |  |  | $ | 25,148 |
Exchange Trade Mutual Funds | $ | 18,939 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,939 |
Treasury Bonds | $ | 65,040 |  |  | $ | — |  |  | $ | — |  |  | $ | 65,040 |
Asset Backed Securities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other | $ | 172 |  |  | $ | — |  |  | $ | — |  |  | $ | 172 |
Financial Liabilities |  |  |  |  |  |  |
Contingent Consideration | $ | — |  |  | $ | — |  |  | $ | 2,980 |  |  | $ | 2,980 |
| December 31, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial Assets |  |  |  |  |  |  |
Short term investments |  |  |  |  |  |  |
Corporate Bonds | $ | 22,476 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,476 |
Treasury Bonds | $ | 14,317 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,317 |
Asset Backed Securities | $ | — |  |  | $ | 8,272 |  |  | $ | — |  |  | $ | 8,272 |
Other | $ | 837 |  |  | $ | — |  |  | $ | — |  |  | $ | 837 |
Financial Liabilities |  |  |  |  |  |  |
Contingent Consideration | $ | — |  |  | $ | — |  |  | $ | 28,910 |  |  | $ | 28,910 |
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table summarizes the change in fair value of the Level 3 instrument:
|  | Total
Balance at December 31, 2020 |  | 30,710 |
Change in fair value of contingent consideration |  | (1,800) |
Balance at December 31, 2021 |  | $ | 28,910 |
Change in fair value of contingent consideration |  | (25,930) |
Balance at December 31, 2022 |  | $ | 2,980 |
Schedule of Fair Value Measurement Inputs and Valuation Techniques | The recurring Level 3 fair value measurements of the contingent consideration liability associated with the ApiFix system sales milestone include the following significant unobservable inputs as of December 31, 2022, 2021 and 2020, respectively:
|  | December 31, 2022 |  | December 31, 2021 |  | December 31, 2020
Valuation techniques |  | Discounted cash flow, Monte Carlo
Present value discount rate(1) |  | 16.6 | % |  | 18.4 | % |  | 25.8 | %
Volatility factor |  | 48.0 | % |  | 50.3 | % |  | 51.8 | %
Expected Years |  | 1.4 years |  | 2.4 years |  | 3.5 years
(1) The present value discount rate includes estimated risk premium.

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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