Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2017 and December 31, 2016 (in thousands):

	Fair Value as of September 30, 2017
	Level 1		Level 2		Level 3		Total
Liabilities
Contingent consideration	$	—	$	—	$	2,372	$	2,372


	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 nine months ended September 30, 2017 (in thousands):

Balance at December 31, 2016	$	2,733
Payment of contingent consideration		(897	)
Fair value adjustment of contingent consideration		536
Balance at September 30, 2017	$	2,372