Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

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

The following table sets forth by level, within the fair value hierarchy, the Company’s liabilities measured at fair value on a recurring and non-recurring basis as of June 30, 2021:

(in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities measured at fair value on a recurring basis:
Contingent consideration	$	12,347	$	—	$	—	$	12,347
Public Warrant Liabilities		84,870		84,870		—		—
Private Placement Warrant Liabilities		38,973		—		—		38,973
Total Liabilities	$	136,190	$	84,870	$	—	$	51,320

The following table sets forth by level, within the fair value hierarchy, the Company’s liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2020:

(in thousands)	Carrying Value		Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities measured at fair value on a recurring basis:
Contingent consideration	$	5,172	$	—	$	—	$	5,172
Total Liabilities	$	5,172	$	—	$	—	$	5,172

Summary of Liabilities Measured At Fair Value Using Significant Unobservable Inputs

Activity of the assets and liabilities measured at fair value using significant unobservable inputs was as follows:

	Fair Value Measurements For the three months ended June 30,
	2021			2020
Opening Balance as at April 1,	$	5,457		$	23,429
Embedded derivative recognized under Term Loan 2		—			51,328
Change in fair value of embedded derivative		—			306
Change in fair value of contingent consideration		(496	)		—
Contingent consideration recognized due to acquisitions		—			2,695
Warrants acquired in the Business Combination		163,058			—
Change in fair value of warrants		(39,215	)		—
Contingent consideration settled through equity		9,600			(1,958	)
Contingent consideration payments		(2,214	)		—
Closing Balance as at June 30,	$	136,190		$	75,800

	Fair Value Measurements For the six months ended June 30,
	2021			2020
Opening Balance as at January 1,	$	5,172		$	23,429
Embedded derivative recognized under Term Loan 2		—			51,328
Change in fair value of embedded derivative		—			306
Change in fair value of contingent consideration		(211	)		—
Contingent consideration recognized due to acquisitions		—			2,695
Warrants acquired in the Business Combination		163,058			—
Change in fair value of warrants		(39,215	)		—
Contingent consideration settled through equity		9,600			(1,958	)
Contingent consideration payments		(2,214	)		—
Closing Balance as at June 30,	$	136,190		$	75,800

Embedded Derivative Liability

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements

The recurring Level 3 fair value measurements of the embedded derivative liability included the following significant unobservable inputs as of June 1, 2020 and June 30, 2020:

	Range as of
Unobservable Input	June 1, 2020			June 30, 2020
Probability of change of control		90	%		90	%
Probability of issuance of debt		5	%		5	%
Expected date of event		Fourth Quarter 2020			Fourth Quarter 2020
Discount rate		39	%		38	%

Warrant Liabilities

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements

The following table provides quantitative information regarding the Level 3 inputs used for the fair value measurements of the warrants liabilities:

	As of
Unobservable Input	June 3, 2021			June 30, 2021
Exercise price	$	11.50		$	11.50
Stock price	$	14.75		$	12.10
Term (years)		5.0			4.9
Volatility		37.1	%		44.8	%
Rick free interest rate		0.8	%		0.9	%
Dividend yield		None			None
Public warrant price	$	4.85		$	3.69