Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value of Financial Instruments

Schedule of change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs

The following table summarizes the change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs for the nine months ended September 30, 2022 (in thousands):

	Contingent
	Consideration
Balance at March 10, 2022	$	12,159
Change in fair value		(257)
Balance at September 30, 2022	$	11,902

Schedule of recurring Level 3 fair value measurements of contingent consideration significant unobservable inputs

The fair value of financial instruments measured on a recurring basis is as follows (in thousands):

	As of March 10, 2022
Description	Total		Level 1	Level 2	Level 3
Liabilities:
Contingent consideration	$	12,159	—	—	$	12,159

	As of September 30, 2022
Description	Total		Level 1	Level 2	Level 3
Liabilities:
Contingent consideration	$	11,902	—	—	$	11,902

	As of March 10, 2022
	Valuation	Significant	Weighted Average
	Methodology	Unobservable Input	(range, if applicable)
Contingent Consideration	Probability weighted	Milestone dates	2022-2027
	income approach
		Discount rate	7.3% to 8.6%
		Weighted Average Discount rate	7.77%
		Probability of Occurrence (periodic for each Milestone)	9.9% to 82.4%
		Probability of occurrence (cumulative through each Milestone)	5.1% to 62.8%

	As of September 30, 2022
	Valuation	Significant	Weighted Average
	Methodology	Unobservable Input	(range, if applicable)
Contingent Consideration	Probability weighted	Milestone dates	2022-2027
	income approach
		Discount rate	12.4% to 13.6%
		Weighted Average Discount rate	13.0%
		Probability of Occurrence (periodic for each Milestone)	9.9% to 82.4%
		Probability of occurrence (cumulative through each Milestone)	5.1% to 62.8%