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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Schedule of estimated useful life

​

Asset Description		Estimated Useful Life
Computer, office equipment, furniture and software		3 – 5 years
Leasehold improvements and fixtures		Lesser of estimated useful life or lease term

Schedule of change in fair value as determined by Level 3 inputs for the contingent consideration liabilities

​

​	​	​	​
​		(in thousands)
Balance at March 10, 2022	​	$	11,093
Payment of contingent consideration	​		(3,000)
Change in fair value	​		2,091
Balance at December 31, 2022	​	$	10,184
​	​	​	​
Contingent consideration, current portion	​	$	2,973
Contingent consideration, net of current portion	​		7,211
Balance at December 31, 2022	​	$	10,184

​

​	​	​	​
​		(in thousands)
Balance at December 31, 2022	​	$	10,184
Payment of contingent consideration	​		(3,250)
Change in fair value	​		(660)
Balance at December 31, 2023	​	$	6,274
​	​	​	​
Contingent consideration, current portion	​	$	—
Contingent consideration, net of current portion	​		6,274
Balance at December 31, 2023	​	$	6,274

Schedule of fair value of financial instruments measured on a recurring basis

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As of December 31, 2023

Description

​

Total

​

Level 1

​

Level 2

​

Level 3

Liabilities:

​

​

​

​

Contingent consideration

​

$

6,274

​

$

—

​

$

—

​

$

6,274

Total liabilities

​

$

6,274

​

$

—

​

$

—

​

$

6,274

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2022

Description

Total

​

Level 1

​

Level 2

Level 3

Liabilities:

​

​

​

​

Contingent consideration

​

$

10,184

​

$

—

​

$

—

​

$

10,184

Total liabilities

​

$

10,184

​

$

—

​

$

—

​

$

10,184

​

​	​	​	​	​	​	​	​
​	​	As of December 31, 2023
​	​	Valuation	​	Significant	​	Weighted Average
​		Methodology		Unobservable Input		(range, if applicable)
Contingent Consideration		Discounted Cash Flows		Milestone dates		2025-2028	​
​		​	​	​	​	​	​
​				Discount rate		12.9% to 13.6	%
​				Weighted Average Discount rate		13.16	%
​				Probability of Occurrence (periodic for each Milestone)		11.7% to 92.0	%
​				Probability of occurrence (cumulative through each Milestone)		5.3% to 48.8	%

​

​	​	​	​	​	​	​	​
​	​	As of December 31, 2022
​	​	Valuation	​	Significant	​	Weighted Average
​		Methodology		Unobservable Input		(range, if applicable)
Contingent Consideration		Discounted Cash Flows		Milestone dates		2023-2028	​
​		​	​	​	​	​	​
​				Discount rate		13.4% to 14.1	%
​				Weighted Average Discount rate		13.6	%
​				Probability of Occurrence (periodic for each Milestone)		11.7% to 95.0	%
​				Probability of occurrence (cumulative through each Milestone)		6.9% to 95.0	%

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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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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

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
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