Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.21.2
Fair Value (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value  
Schedule of fair value measurements of liabilities measured at fair value on recurring basis

The following table details the fair value measurements of assets and liabilities that are measured at fair value on a recurring basis:

Fair Value Measurement at September 30, 2021

Total 

Level 1

Level 2

    

Level 3

    

Fair Value

Assets

Money market mutual funds

$

10,080

$

$

$

10,080

Debt securities:

U.S. government obligations

10,985

10,985

Obligations of states and municipalities

4,371

4,371

Industrial and miscellaneous

32,343

32,343

Residential and commercial mortgage-backed securities

15,388

15,388

Other loan-backed and structured securities

5,701

5,701

$

21,065

$

57,803

$

$

78,868

Liabilities

Contingent consideration - business combinations

$

$

$

2,849

    

$

2,849

Contingent consideration - earnout

 

 

 

39,811

    

39,811

Private warrant liability

 

17,706

17,706

$

$

$

60,366

$

60,366

Fair Value Measurement at December 31, 2020

Total 

    

Level 1

    

Level 2

    

Level 3

    

Fair Value

Contingent consideration - business combinations

$

$

$

3,549

$

3,549

Contingent consideration - earnout

 

 

 

50,238

 

50,238

Private warrant liability

 

31,534

31,534

$

$

$

85,321

$

85,321

Schedule of Level 3 items measured at fair value on a recurring basis

Contingent 

Contingent 

Consideration -

Private

Consideration -

Business

Warrant

Earnout

    

Combinations

    

Liability

Fair value as of January 1, 2021

$

50,238

$

3,549

$

31,534

Additions

1,742

Settlements

(25,815)

(2,062)

Change in fair value, loss (gain) included in net loss(1)

18,770

(275)

15,910

Fair value as of March 31, 2021

$

43,193

$

2,954

$

47,444

Additions

 

 

 

Settlements

 

 

 

(16,843)

Change in fair value, loss (gain) included in net loss(1)

 

4,031

 

(300)

 

4,302

Fair value as of June 30, 2021

$

47,224

$

2,654

$

34,903

Additions

 

 

 

Settlements

 

 

 

(14,505)

Change in fair value, loss (gain) included in net loss(1)

 

(7,413)

 

195

 

(2,692)

Fair value as of September 30, 2021

$

39,811

$

2,849

$

17,706

Redeemable 

Contingent 

Convertible 

Consideration -

Preferred Stock 

Business

    

Warrants

    

FVO Notes

Combinations

Fair value as of January 1, 2020

$

6,684

$

11,659

$

100

Additions

Settlements

Change in fair value, loss (gain) included in net loss(1)

1,214

454

(80)

Change in fair value, (gain) included in other comprehensive income

(3,856)

Fair value as of March 31, 2020

$

7,898

$

8,257

$

20

Additions

 

 

 

Settlements

 

 

(2,724)

 

Change in fair value, loss (gain) included in net loss(1)

 

785

 

(2,898)

 

1,480

Change in fair value, (gain) included in other comprehensive income

 

 

3,856

 

Fair value as of June 30, 2020

$

8,683

$

6,491

$

1,500

Additions

 

1,762

 

 

Settlements

 

 

 

Change in fair value, loss (gain) included in net loss(1)

 

(785)

 

(488)

 

100

Fair value as of September 30, 2020

$

9,660

$

6,003

$

1,600

(1) Changes in fair value of the redeemable convertible stock warrants and FVO Notes are included in other income (expense), net, and changes in fair value of contingent consideration related to business combinations are included in general and administrative expenses in the unaudited condensed consolidated statements of operations. Changes in fair value of the earnout contingent consideration and private warrant liability are disclosed separately in the unaudited condensed consolidated statements of operations.