Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Measurements

Schedule of assets and liabilities that are measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis (in thousands):

	Fair Value Measurements at March 31, 2023 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents - Money market funds	$	107,090	$	—	$	—	$	107,090
	$	107,090	$	—	$	—	$	107,090
Other current liabilities:
Acquisition-related contingent consideration	$	—	$	—	$	939	$	939
Other long-term liabilities:
Acquisition-related contingent consideration		—		—		125		125
Total liabilities measured at fair value	$	—	$	—	$	1,064	$	1,064

	Fair Value Measurements at December 31, 2022 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents - Money market funds	$	27,866	$	—	$	—	$	27,866
	$	27,866	$	—	$	—	$	27,866
Other current liabilities:
Acquisition-related contingent consideration	$	—	$	—	$	343	$	343
Acquisition-related contingent consideration - pension liability		—		—		900		900
		—		—		1,243		1,243
Other long-term liabilities:
Acquisition-related contingent consideration		—		—		555		555
Total liabilities measured at fair value	$	—	$	—	$	1,798	$	1,798

Schedule of change in fair value of liabilities

The following table provides a roll-forward of the fair value of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs (in thousands):

Balance as of December 31, 2022	$	1,798
Accretion - earnout		166
Release of pension liability		(900)
Balance as of March 31, 2023	$	1,064