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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value of Financial Instruments  
Schedule of change in fair value as determined by Level 3 inputs for the contingent consideration liabilities

    

(in thousands)

Balance at December 31, 2022

$

10,184

Payment of contingent consideration

(3,250)

Change in fair value

 

(660)

Balance at December 31, 2023

$

6,274

Contingent consideration, current portion

$

Contingent consideration, net of current portion

 

6,274

Balance at December 31, 2023

$

6,274

    

(in thousands)

Balance at December 31, 2023

$

6,274

Change in fair value

 

202

Balance at March 31, 2024

$

6,476

Contingent consideration, current portion

$

Contingent consideration, net of current portion

 

6,476

Balance at March 31, 2024

$

6,476

Schedule of fair value of financial instruments measured on a recurring basis

    

As of March 31, 2024

Description

    

Total

    

Level 1

    

Level 2

    

Level 3

Liabilities:

 

  

 

  

 

  

 

  

Contingent consideration

$

6,476

 

$

 

$

$

6,476

Total liabilities

$

6,476

 

$

 

$

$

6,476

    

As of December 31, 2023

Description

    

Total

    

Level 1

    

Level 2

    

Level 3

Liabilities:

 

  

 

  

 

  

 

  

Contingent consideration

$

6,274

 

$

 

$

$

6,274

Total liabilities

$

6,274

 

$

 

$

$

6,274

Schedule of fair value measurements of contingent consideration for which a liability is recorded

As of March 31, 2024

Valuation

Significant

Weighted Average

    

Methodology

    

Unobservable Input

    

(range, if applicable)

Contingent Consideration

 

Discounted Cash Flows

 

Milestone dates

 

2025-2028

 

 

  

 

Discount rate

 

12.8% to 13.5%

 

  

 

Weighted Average Discount rate

 

13.13%

 

  

 

Probability of Occurrence (periodic for each Milestone)

 

11.7% to 92.0%

 

  

 

Probability of occurrence (cumulative through each Milestone)

 

5.3% to 48.8%

    

As of December 31, 2023

Valuation

Significant

Weighted Average

    

Methodology

    

Unobservable Input

    

(range, if applicable)

Contingent Consideration

 

Discounted Cash Flows

 

Milestone dates

 

2025-2028

 

 

Discount rate

12.9% to 13.6%

Weighted Average Discount rate

13.16%

Probability of Occurrence (periodic for each Milestone)

11.7% to 92.0%

 

 

Probability of occurrence (cumulative through each Milestone)

5.3% to 48.8%