v3.22.4

Investments and Fair Value Measurements (Tables)

12 Months Ended

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)

X

- 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

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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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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

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