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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Contingent Consideration

The fair value of contingent consideration in connection with the Bridg acquisition is as follows (in thousands):

			December 31, 2022
			Level 1						Level 2						Level 3						Total
Liabilities:
Current contingent consideration			$	—					$	—					$	104,121					$	104,121
Total liabilities			$	—					$	—					$	104,121					$	104,121

			September 30, 2023
			Level 1						Level 2						Level 3						Total
Liabilities:
Current contingent consideration			$	—					$	—					$	27,268					$	27,268
Total liabilities			$	—					$	—					$	27,268					$	27,268

The following table shows a reconciliation of the beginning and ending fair value measurements of our contingent consideration, which we have valued using level 3 inputs:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2023						2022						2023
Beginning balance			$	164,277					$	18,987					$	232,295					$	104,121
Decrease due to earnout settlement			—						—						—						(61,808)
(Gain) loss in fair value of contingent consideration			(46,126)						8,281						(114,144)						$	(15,045)
Ending balance			$	118,151					$	27,268					$	118,151					$	27,268

Schedule of Assumptions used for Estimating Fair Value of Contingent Consideration

The following table summarizes key assumptions used for estimating the fair value of the contingent consideration:

			December 31, 2022
Revenue volatility			20.0		%
Revenue discount rate			8.7		%
Weighted average cost of capital			17.0		%
Common stock volatility			156.0		%
Portion to be paid in cash			30.0		%

X

- 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

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
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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.

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