Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of fair value of assets and liabilities measured on recurring basis

The following table presents financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 (in thousands):

	Total Carrying Value in Consolidated Balance Sheets		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets
Warrant assets	$	1,297	$	—	$	—	$	1,297
Marketable investments		50		—		—		50
Foreign currency forward contract		1,360		—		—		1,360
Financial Liabilities
Contingent consideration payable	$	11,200	$	—	$	—	$	11,200

The following table presents financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 (in thousands):

	Total Carrying Value in Consolidated Balance Sheets		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets
Warrant assets	$	1,220	$	—	$	—	$	1,220
Marketable investments		76		—		—		76
Financial Liabilities
Contingent consideration payable	$	11,200	$	—	$	—	$	11,200
Foreign currency forward contract		754		—		—		754

Schedule of fair value assets measured on recurring basis unobservable input reconciliation

The changes in fair value of the warrant assets during the nine months ended September 30, 2023 and 2022 were as follows (in thousands):

September 30, 2023				September 30, 2022
Fair value - December 31, 2022	$	1,220			Fair value - December 31, 2021	$	3,419
Issued		822			Issued		1,098
Canceled		—			Canceled		—
Change in fair value		(745	)		Change in fair value		623
Fair value - September 30, 2023	$	1,297			Fair value - September 30, 2022	$	5,140

Schedule of fair value of assets and liabilities measured on nonrecurring basis

As of September 30, 2023, the Company had one royalty, Best, that was deemed to be impaired based on reductions in carrying value in prior periods. As of December 31, 2022, the Company had two royalties, Best and Cambia®, that were deemed to be impaired based on reductions in carrying values in prior periods. The following table presents these royalties measured at fair value on a nonrecurring basis as of September 30, 2023 and December 31, 2022 (in thousands):

	Total Carrying Value in Consolidated Balance Sheets		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2023	$	2,677	$	—	$	—	$	2,677
December 31, 2022	$	3,545	$	—	$	—	$	3,545

Schedule of fair value by balance sheet grouping

As of September 30, 2023 (in thousands):

	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Finance receivables, net	$	223,604	$	223,604	$	—	$	—	$	223,604
Marketable investments		50		50		—		—		50
Warrant assets		1,297		1,297		—		—		1,297
Foreign currency forward contract		1,360		1,360		—		—		1,360
Financial Liabilities
Contingent consideration payable	$	11,200	$	11,200	$	—	$	—	$	11,200

As of December 31, 2022 (in thousands):

	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial Assets
Finance receivables, net	$	236,555	$	236,555	$	—	$	—	$	236,555
Marketable investments		76		76		—		—		76
Warrant assets		1,220		1,220		—		—		1,220
Financial Liabilities
Contingent consideration payable	$	11,200	$	11,200	$	—	$	—	$	11,200
Foreign currency forward contract		754		754		—		—		754