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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities | The following table represents the Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):
|  | Fair Value Measurements |
|  | As of December 31, 2019 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds (1) |  | $ | 2,354 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,354 |
Total Assets |  | $ | 2,354 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,354 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent purchase price (2) |  | $ | — |  |  | $ | — |  |  | $ | (2,511 | ) |  | $ | (2,511 | )
Interest rate swap (3) |  |  | — |  |  |  | (144 | ) |  |  | — |  |  |  | (144 | )
Total Liabilities |  | $ | — |  |  | $ | (144 | ) |  | $ | (2,511 | ) |  | $ | (2,655 | )
(1) | Included in cash and cash equivalents in the Consolidated Balance Sheets.
(2) | Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.
(3) | The Company has an interest rate swap contract that hedges the risk of variability from interest payments on its borrowings (see Note 4 – Debt and Note 11 – Derivatives and Hedging). The fair value of the interest rate swap is based on mark-to-market valuations prepared by a third-party broker. Those valuations are based on observable interest rates and other observable market data, which the Company considers Level 2 inputs.
|  | Fair Value Measurements |
|  | As of December 31, 2018 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds (1) |  | $ | 255 |  |  | $ | — |  |  | $ | — |  |  | $ | 255 |
Total Assets |  | $ | 255 |  |  | $ | — |  |  | $ | — |  |  | $ | 255 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent purchase price (2) |  | $ | — |  |  | $ | — |  |  | $ | (4,196 | ) |  | $ | (4,196 | )
Total Liabilities |  | $ | — |  |  | $ | — |  |  | $ | (4,196 | ) |  | $ | (4,196 | )
(1) | Included in cash and cash equivalents in the Consolidated Balance Sheets.
(2) | $1.8 million is included in accrued expenses and other current liabilities and $2.4 million is included in non-current liabilities in the Consolidated Balance Sheets.
Summary of Changes in the Fair Value of Level 3 Contingent Consideration | Changes in the fair value of Level 3 contingent consideration for the years ended December 31, 2019 and 2018 were as follows (in thousands):
|  | Contingent |
|  | Consideration |
Acquisition of FeedbackNow (1) |  | $ | (3,388 | )
Fair value adjustment of contingent purchase price (2) (3) |  |  | (780 | )
Foreign exchange effect |  |  | (28 | )
Balance at December 31, 2018 |  |  | (4,196 | )
Fair value adjustment of contingent purchase price (2) (4) |  |  | (68 | )
Payment of contingent purchase price |  |  | 1,769 |
Foreign exchange effect |  |  | (16 | )
Balance at December 31, 2019 |  | $ | (2,511 | )
(1) | See Note 2 – Acquisitions for a discussion of the fair value of the contingent purchase price as of the acquisition date.
(2) | Subsequent to the acquisition of FeedbackNow on July 6, 2018, the fair value of the contingent consideration increased by $0.1 million and $0.8 million during 2019 and 2018, respectively, due primarily to the achievement of contract bookings during this period. This amount was recognized as acquisition and integration costs within the Consolidated Statements of Income (Loss).
(3) | As of December 31, 2018, the significant unobservable inputs used in the Monte Carlo simulation to fair value the contingent consideration included projected contract bookings, a discount rate of 23.8%, and revenue volatility of 21.9%. Increases or decreases in the inputs would result in a higher or lower fair value measurement.
(4) | As of December 31, 2019, the significant unobservable inputs used in the Monte Carlo simulation to fair value the contingent consideration included projected contract bookings, a discount rate of 17.3%, and revenue volatility of 26.6%. Increases or decreases in the inputs would result in a higher or lower fair value measurement.

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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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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