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Fair Value Measurements
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Earnout Liability
The Company may be required to make certain earnout payments in connection with the Transaction, which would be payable upon the future achievement of revenues less certain identified expenses and other performance targets. The fair value of these contingent consideration payments is determined using a Monte Carlo simulation, with key inputs being standard deviation applied to the Company’s revenues, revenue multiple, and gross profit discount rate. The fair value measurement of the contingent consideration is considered a Level 3 measurement within the fair value hierarchy.
The measurement period for the Company’s contingent consideration arrangements expired on August 31, 2023, at which time amounts owed by the Company to its former owners were computed and represent fixed amounts.
A summary of the activities of Level 3 fair value measurements is as follows:
 December 31,
2023
Beginning balance$7,100,000 
Issuance of Earnout Notes— 
Change in fair value(150,093)
Transfer to purchase consideration(6,949,907)
Ending balance$— 
See Note 14: Related Party Transactions for a discussion of the Company’s contingent consideration liabilities attributed to LMH.