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Warrants (Tables)
12 Months Ended
Dec. 31, 2023
Class of Warrant or Right [Line Items]  
Schedule of Warrant Activity

The following table summarizes warrant activity for the years ended December 31, 2023, 2022, and 2021:

 

 

 

Warrants

 

 

Weighted average
exercise price

 

Outstanding at December 31, 2020

 

 

15,541

 

 

$

80.43

 

Issued

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

15,541

 

 

 

80.43

 

Issued

 

 

35,255

 

 

 

31.91

 

Exercised

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

50,796

 

 

 

46.75

 

Issued

 

 

28,424

 

 

 

74.75

 

Exercised

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

79,220

 

 

$

56.80

 

Schedule of fair value measurements of contingent consideration recurring include significant unobservable inputs

The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs:

 

 

 

 

 

As of December 31, 2023

 

As of December 31, 2022

Valuation methodology

Significant unobservable input

Weighted average (range, if applicable)

Weighted average (range, if applicable)

Contingent consideration

 

Probability weighted income approach

 

Discount rate

 

13.2%

 

12.0%

 

 

 

 

Revenue discount rate

 

16.4% - 19.4%

 

20.9%

 

 

 

 

 

 

 

 

Warrants  
Class of Warrant or Right [Line Items]  
Schedule of fair value measurements of contingent consideration recurring include significant unobservable inputs The initial fair value of warrants outstanding was estimated using the Black‑Scholes option pricing model with the following assumptions:

 

Black-Scholes option valuation assumptions

 

2023
warrants

 

 

2022
warrants

 

 

2020
warrants

 

Risk-free interest rate

 

3.6 - 3.9%

 

 

 

3.1

%

 

 

0.5

%

Dividend yield

 

 

 

 

 

 

 

 

 

Volatility

 

92 - 95%

 

 

 

94

%

 

 

88

%

Weighted average contractual term

 

7 years

 

 

7 years

 

 

7 years