Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016 (in thousands):

	Fair Value as of March 31, 2017
	Level 1		Level 2		Level 3		Total
Liabilities
Contingent consideration	$	—	$	—	$	2,844	$	2,844


	Fair Value as of December 31, 2016
	Level 1		Level 2		Level 3		Total
Liabilities
Contingent consideration	$	—	$	—	$	2,733	$	2,733

Summary of Changes in the Fair Value of the Liability

The following table summarizes the changes in the fair value of the liability during the three months ended March 31, 2017 (in thousands):

Balance at December 31, 2016	$	2,733
Fair value adjustment of contingent consideration		111
Balance at March 31, 2017	$	2,844