v3.25.1
FAIR VALUE MEASUREMENT
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT

10. FAIR VALUE MEASUREMENT

 

Assets and liabilities measured at fair value on a recurring basis are as follows:

 

   December 31, 2024 
   Level 1   Level 2   Level 3   Total 
Assets:                    
Marketable securities  $13,630   $-   $-   $13,630 
Money market funds   27,347    -    -    27,347 
Alternative fuel credits   -    51    -    51 
Total assets  $40,977   $51   $-   $41,028 
                     
Liabilities:                    
Warrant liability  $-   $-   $22   $22 
Common stock consideration payable   -    -    21,028    21,028 
Total liabilities  $-   $-   $21,050   $21,050 

 

   December 31, 2023 
   Level 1   Level 2   Level 3   Total 
Assets:                    
Marketable securities  $22,970   $-   $-   $22,970 
Money market funds   46,572    -    -    46,572 
Alternative fuel credits   -    32    -    32 
Total assets  $69,542   $32   $-   $69,574 
                     
Liabilities:                    
Warrant liability  $-   $-   $32   $32 
Option liability   293    -    -    293 
Common stock liability   743    -    -    743 
Common stock consideration payable   -    -    18,118    18,118 
Total liabilities  $1,036   $-   $18,150   $19,186 

 

See Note 8 - Notes Payable and Consideration Payable for additional details.

 

Assumptions utilized in the valuation of warrant liabilities are described as follows:

 

   For the Years Ended 
   December 31, 
   2024   2023   2022 
Risk-free interest rate   3.98%-5.09%    4.64%-5.46%    1.63%-4.73%
Contractual term (years)   1.00    1.00    1.00 
Expected volatility   84%-92%    67%-80%    74%-85%
Expected dividend yield   0.00%   0.00%   0.00%

 

The following table sets forth a summary of the changes in the fair value of Level 3 fair value measurements on a recurring basis:

 

   2024   2023 
Common Stock Consideration Payable          
Beginning balance as of January 1,  $18,118   $- 
Consideration payable assumed in Envoy acquisition   -    18,118 
Change in fair value of consideration payable   2,910    - 
Ending balance as of December 31,  $21,028   $18,118 
           
Warrant Liability          
Beginning balance as of January 1  $32   $24 
Change in fair value of warrant liability   (10)   8 
Ending balance as of December 31,  $22   $32 
           
Contingent Consideration          
Beginning balance as of January 1  $ -   $ 1,316 
Change in fair value of contingent consideration   -    (1,316)
Ending balance as of December 31,  $ -   $ - 

 

In addition to assets and liabilities that are measured at fair value on a recurring basis, we also measure certain assets and liabilities at fair value on a nonrecurring basis. Our non-financial assets, including goodwill, intangible assets, operating lease right of use assets, and property, plant and equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized.

 

 

BLINK CHARGING CO.

Notes to Consolidated Financial Statements

(in thousands, except for share and per share amounts)