Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.23.4
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Our financial instruments measured at fair value on a recurring basis were as follows at the dates indicated:
Consolidated
Balance Sheet Caption		 Fair Value at December 31, 2022
(in thousands) Level 1 Level 2 Level 3 Total
Liabilities:
Contingent consideration - current Accrued expenses and other current liabilities $ —  $ —  $ 2,738  $ 2,738 
Total Liabilities $ —  $ —  $ 2,738  $ 2,738 

Consolidated
Balance Sheet Caption		 Fair Value at December 31, 2021
(in thousands) Level 1 Level 2 Level 3 Total
Assets:
Equity securities Other assets $ 1,919  $ —  $ —  $ 1,919 
Total Assets $ 1,919  $ —  $ —  $ 1,919 
Liabilities:
Interest rate swap contract Other liabilities $ —  $ 288  $ —  $ 288 
Contingent consideration – current Accrued expenses and other current liabilities —  —  5,641  5,641 
Contingent consideration – long-term Other long-term liabilities —  —  1,216  1,216 
Total Liabilities $ —  $ 288  $ 6,857  $ 7,145 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
A reconciliation of our liabilities that are measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2022 and 2021 is as follows:
(in thousands) Contingent Consideration
Balance at December 31, 2020 $ — 
Contingent consideration issued for Eyce acquisition 1,828 
Contingent consideration issued for DaVinci acquisition 4,840 
Loss from fair value adjustments included in results of operations 189 
Balance at December 31, 2021 6,857 
Eyce 2021 Contingent Payment settlement in Class A common stock (875)
Eyce 2021 Contingent Payment settlement in cash (875)
DaVinci 2021 Contingent Payment settlement in Class A common stock (2,611)
Write-off of Eyce 2022 Contingent Payment in conjunction with the Amended Eyce APA (267)
Loss from fair value adjustments included in results of operations 509 
Balance at December 31, 2022 $ 2,738