Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

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 warrant liabilities:

	As of
Unobservable Input	June 30, 2022	December 31, 2021
Exercise price	$11.50	$11.50
Stock price	$4.38	$8.91
Term (years)	3.9	4.4
Risk free interest rate	3.0%	1.2%
Dividend yield	None	None
Public warrant price	$0.68	$2.39

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 basis as of June 30, 2022:

(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	$	27,998	$	—	$	—	$	27,998
Public Warrant Liabilities	15,640		15,640		—		—
Private Placement Warrant Liabilities	7,167		—		—		7,167
Total liabilities measured at fair value	$	50,805	$	15,640	$	—	$	35,165

    

The following table sets forth by level, within the fair value hierarchy, the Company’s liabilities measured at fair value on a recurring basis as of December 31, 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	$	38,423	$	—	$	—	$	38,423
Public Warrant Liabilities		54,970		54,970		—		—
Private Placement Warrant Liabilities		25,174		—		—		25,174
Total liabilities measured at fair value	$	118,567	$	54,970	$	—	$	63,597

Summary of Liabilities Measured At Fair Value Using Significant Unobservable Inputs

The following table includes a roll forward of the amounts for the three and six months ended June 30, 2022 and 2021 and for liabilities measured at fair value:

		Fair Value Measurements for the Three Months Ended June 30,
		2022		2021
Original Balance as of April 1,	$	86,744	$	5,457
Change in fair value of contingent consideration		(5,764)		(496)
Warrants acquired in the Business Combination		—		163,058
Change in fair value of warrants		(30,175)		(39,215)
Additions to contingent considerations		—		9,600
Contingent consideration payments		—		(2,214)
Closing Balance as of June 30,	$	50,805	$	136,190

		Fair Value Measurements for the Six Months Ended June 30,
		2022		2021
Original Balance as of January 1,	$	118,567	$	5,172
Change in fair value of contingent consideration		(10,425)		(211)
Warrants acquired in the Business Combination		—		163,058
Change in fair value of warrants		(57,337)		(39,215)
Additions to contingent considerations		—		9,600
Contingent consideration payments		—		(2,214)
Closing Balance as of June 30,	$	50,805	$	136,190