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Fair Value Measurements and Fair Value of Instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Summary of Carrying Values and Fair Values of Financial Instruments | The following tables display the carrying values and fair values of financial instruments.
|  |  |  | As of |
|  |  |  | March 31, 2024 |  |  | December 31, 2023 |
Assets on the Consolidated Balance Sheets |  |  |  | Carrying Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Carrying Value |  |  | Unrealized Losses |  |  | Fair Value |
Cash and cash equivalents |  | Level 1 |  | $ | 204,701 |  |  | $ | - |  |  | $ | 204,701 |  |  | $ | 215,214 |  |  | $ | - |  |  | $ | 215,214 |
Restricted cash |  | Level 1 |  |  | 247 |  |  |  | - |  |  |  | 247 |  |  |  | 495 |  |  |  | - |  |  |  | 495 |
Total |  |  |  | $ | 204,948 |  |  | $ | - |  |  | $ | 204,948 |  |  | $ | 215,709 |  |  | $ | - |  |  | $ | 215,709 |
The Company reports the current portion of restricted cash as a separate item in the Consolidated Balance Sheets and the non-current portion is a component of other long-term assets in the Consolidated Balance Sheets.
|  |  |  | As of |
|  |  |  | March 31, 2024 |  |  | December 31, 2023 |
Liabilities on the Consolidated Balance Sheets |  |  |  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Acquisition earnout payment |  | Level 3 |  | $ | 2,800 |  |  | $ | 2,800 |  |  | $ | 4,250 |  |  | $ | 4,250 |
Total liabilities |  |  |  | $ | 2,800 |  |  | $ | 2,800 |  |  | $ | 4,250 |  |  | $ | 4,250 |
Schedule of Changes In Fair Value of Liabilities | The changes in the fair value of the Company's Level 3 liabilities for the three months ended March 31, 2024 and year ended December 31, 2023 are as follows.
|  |  |  | As of |
|  |  |  | March 31, 2024 |  |  | December 31, 2023 |
Balance at beginning of period |  |  |  | $ | 4,250 |  |  | $ | 5,540 |
Payment of earnout in connection with the iQuue acquisition |  |  |  |  | (1,530 | ) |  |  | (1,702 | )
Change in fair value of earnout |  |  |  |  | 80 |  |  |  | 412 |
Balance at end of period |  |  |  | $ | 2,800 |  |  | $ | 4,250 |
Schedule of Earnout of Measurement | The following table sets forth the weighted-average assumptions used to estimate the fair value of the earnout payment as of March 31, 2024 and December 31, 2023.
|  |  |  | As of |
|  |  |  | March 31, 2024 |  |  | December 31, 2023 |
Discount Rate |  |  |  |  | 10.90 | % |  |  | 10.50 | %
Volatility |  |  |  |  | 40.00 | % |  |  | 42.00 | %

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: 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 3: 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 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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