v3.22.4

Investments and Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurement of Assets And Liabilities | The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis in the Consolidated Balance Sheets:
| December 31, 2022
| Total Fair Value and Carrying Value on Balance Sheet |  | Fair Value Measurement Category
|  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Commercial paper | $ | 20,020,000 |  |  | $ | — |  |  | $ | 20,020,000 |  |  | $ | — |
Corporate notes/bonds | 86,094,000 |  |  | — |  |  | 86,094,000 |  |  | — |
Securities of government sponsored entities | 1,981,000 |  |  |  |  | 1,981,000 |  |  |
Total investments: | $ | 108,095,000 |  |  | $ | — |  |  | $ | 108,095,000 |  |  | $ | — |
Money market funds | $ | 1,868,000 |  |  | $ | 1,868,000 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | 22,352,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,352,000 |
| December 31, 2021
| Total Fair Value and Carrying Value on Balance Sheet |  | Fair Value Measurement Category
|  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Commercial paper | $ | 100,860,000 |  |  | $ | — |  |  | $ | 100,860,000 |  |  | $ | — |
Corporate notes/bonds | 125,181,000 |  |  | — |  |  | 125,181,000 |  |  | — |
Securities of government sponsored entities | — |  |  | — |  |  | — |  |  | — |
Total investments: | $ | 226,041,000 |  |  | $ | — |  |  | $ | 226,041,000 |  |  | $ | — |
Money market funds | $ | 11,126,000 |  |  | $ | 11,126,000 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | 9,066,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,066,000 |
Summary of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | Changes in estimated fair value of contingent consideration liability in the year ended December 31, 2022 is as follows:
| Contingent Consideration Liability (Level 3 Measurement)
Balance as of December 31, 2021 | $ | 9,066,000 |
Liability recorded as a result of current period acquisition | 12,970,000 |
Change in estimated fair value, recorded in selling, general and administrative expenses | 316,000 |
Cash payments | — |
Balance as of December 31, 2022 | $ | 22,352,000 |
Changes in estimated fair value of contingent consideration liability in the year ended December 31, 2021 is as follows:
| Contingent Consideration Liability (Level 3 Measurement)
Balance as of December 31, 2020 | $ | — |
Liability recorded as a result of current period acquisition | 9,000,000 |
Change in estimated fair value, recorded in selling, general and administrative expenses | 66,000 |
Cash payments | — |
Balance as of December 31, 2021 | $ | 9,066,000 |
Summary of Marketable Securities | As of December 31, 2022, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities:
| Commercial Paper |  | Corporate Notes/Bonds |  | Securities of Government Sponsored Entities
| Amortized Cost |  | Unrealized Gain (Loss) |  | Amortized Cost |  | Unrealized Gain (Loss) |  | Amortized Cost |  | Unrealized Gain (Loss)
Less than 1 year | $ | 20,093,000 |  |  | $ | (73,000) |  |  | $ | 72,823,000 |  |  | $ | (910,000) |  |  | $ | 1,998,000 |  |  | $ | (16,000) |
Due after one year through five years | — |  |  | — |  |  | 14,268,000 |  |  | (88,000) |  |  | — |  |  | — |
Total | $ | 20,093,000 |  |  | $ | (73,000) |  |  | $ | 87,091,000 |  |  | $ | (998,000) |  |  | $ | 1,998,000 |  |  | $ | (16,000) |
As of December 31, 2021, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities:
| Commercial Paper |  | Corporate Notes/Bonds |  | Securities of Government Sponsored Entities
| Amortized Cost |  | Unrealized Gain (Loss) |  | Amortized Cost |  | Unrealized Gain (Loss) |  | Amortized Cost |  | Unrealized Gain (Loss)
Less than 1 year | $ | 100,929,000 |  |  | $ | (69,000) |  |  | $ | 41,173,000 |  |  | $ | (61,000) |  |  | $ | — |  |  | $ | — |
Due after one year through five years | — |  |  | — |  |  | 84,478,000 |  |  | (409,000) |  |  | — |  |  | — |
Total | $ | 100,929,000 |  |  | $ | (69,000) |  |  | $ | 125,651,000 |  |  | $ | (470,000) |  |  | $ | — |  |  | $ | — |
As of December 31, 2022, the following table summarizes available-for-sale securities in an unrealized loss position:
| Less Than 12 Months |  | 12 Months or Greater |  | Total
| Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss
Commercial paper | $ | 20,020,000 |  |  | $ | (73,000) |  |  | $ | — |  |  | $ | — |  |  | $ | 20,020,000 |  |  | $ | (73,000) |
Corporate Notes/Bonds | 9,661,000 |  |  | (27,000) |  |  | 74,452,000 |  |  | (971,000) |  |  | 84,113,000 |  |  | (998,000) |
Securities of Government Sponsored Entities | 1,981,000 |  |  | (16,000) |  |  | — |  |  | — |  |  | 1,981,000 |  |  | (16,000) |
Total | $ | 31,662,000 |  |  | $ | (116,000) |  |  | $ | 74,452,000 |  |  | $ | (971,000) |  |  | $ | 106,114,000 |  |  | $ | (1,087,000) |
As of December 31, 2021, the following table summarizes available-for-sale securities in an unrealized loss position:
| Less Than 12 Months |  | 12 Months or Greater |  | Total
| Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss
Commercial paper | $ | 100,860,000 |  |  | $ | (69,000) |  |  | $ | — |  |  | $ | — |  |  | $ | 100,860,000 |  |  | $ | (69,000) |
Corporate Notes/Bonds | 125,181,000 |  |  | (470,000) |  |  | — |  |  | — |  |  | 125,181,000 |  |  | (470,000) |
Securities of Government Sponsored Entities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 226,041,000 |  |  | $ | (539,000) |  |  | $ | — |  |  | $ | — |  |  | $ | 226,041,000 |  |  | $ | (539,000) |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: 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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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