Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy. Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

	As of December 31, 2020
	Quoted		Significant
	Prices in		Other		Significant
	Active		Observable		Unobservable
	Markets		Inputs		Inputs		Total Fair
	(Level 1)		(Level 2)		(Level 3)		Value
Assets:
Cash equivalents:
Money market funds	$	432,560	$	—	$	—	$	432,560
Total financial assets	$	432,560	$	—	$	—	$	432,560
Liabilities:
Contingent consideration	$	—	$	—	$	10,619	$	10,619
Derivative instruments - acquisition-related deferred common stock consideration		—		1,011		—		1,011
Total financial liabilities	$	—	$	1,011	$	10,619	$	11,630

	As of December 31, 2019
	Quoted		Significant
	Prices in		Other		Significant
	Active		Observable		Unobservable
	Markets		Inputs		Inputs		Total Fair
	(Level 1)		(Level 2)		(Level 3)		Value
Assets:
Cash equivalents:
Money market funds	$	511,436	$	—	$	—	$	511,436
Total financial assets	$	511,436	$	—	$	—	$	511,436

Summary of Changes in Level 3 Financial Instruments

The following table summarizes the changes in Level 3 financial instruments (in thousands):

Fair value at December 31, 2018	$	—
Contingent consideration from MissionMode acquisition		550
Change in fair value of contingent consideration obligation from MissionMode acquisition		(550	)
Fair value at December 31, 2019		—
Contingent consideration from one2many acquisition		2,190
Contingent consideration from Techwan acquisition		2,030
Contingent consideration from SnapComms acquisition		2,047
Change in fair value of contingent consideration obligation from one2many acquisition		8,114
Change in fair value of contingent consideration obligation from Techwan acquisition		(2,030	)
Change in fair value of contingent consideration obligation from SnapComms acquisition		(2,047	)
Foreign currency translation		315
Fair value at December 31, 2020	$	10,619