XML 35 R25.htm IDEA: XBRL DOCUMENT v3.22.1
Earn-Out Shares (Tables)
3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value Measurement Inputs and Valuation Techniques Assumptions used in the valuation were as follows:
March 31, 2022December 31, 2021
Stock price$5.35 $12.47 
Expected volatility70.0 %55.0 %
Risk-free interest rate2.37 %0.91 %
Forecast period (in years)2.5 2.8 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation The following table presents a reconciliation of changes in the carrying amount of the contingent earn-out liability classified as Level 3 fair value hierarchy using significant unobservable inputs for the three months ended March 31, 2022:
(In thousands)Earn-Out Liability
Balance at December 31, 2021
$98,900 
Change in fair value related to option holder forfeitures166 
Change in fair value related to share valuation inputs(75,666)
Total change in fair value recognized in earnings$(75,500)
Balance at March 31, 2022
$23,400