| Schedule of financial assets measured at fair value on a recurring basis |
The following fair value hierarchy table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands):
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September 30, 2023 |
|
|
Quoted Prices in |
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Significant |
|
|
|
|
|
|
|
|
Active Markets |
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Other |
|
Significant |
|
|
|
|
|
for Identical |
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Observable |
|
Unobservable |
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|
|
|
|
Items |
|
Inputs |
|
Inputs |
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|
|
|
|
(Level 1) |
|
(Level 2) |
|
(Level 3) |
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Total |
Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
63,671 |
|
$ |
— |
|
$ |
— |
|
$ |
63,671 |
Equity securities |
|
|
803 |
|
|
— |
|
|
— |
|
|
803 |
Other investments |
|
|
— |
|
|
— |
|
|
2,000 |
|
|
2,000 |
Total assets |
|
$ |
64,474 |
|
$ |
— |
|
$ |
2,000 |
|
$ |
66,474 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
Quoted Prices in |
|
Significant |
|
|
|
|
|
|
|
|
Active Markets |
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Other |
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Significant |
|
|
|
|
|
for Identical |
|
Observable |
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Unobservable |
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|
|
|
|
Items |
|
Inputs |
|
Inputs |
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|
|
|
|
(Level 1) |
|
(Level 2) |
|
(Level 3) |
|
Total |
Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
51,274 |
|
$ |
— |
|
$ |
— |
|
$ |
51,274 |
Commercial paper |
|
|
— |
|
|
39,781 |
|
|
— |
|
|
39,781 |
Corporate bonds |
|
|
— |
|
|
28,814 |
|
|
— |
|
|
28,814 |
U.S. Treasury securities |
|
|
— |
|
|
19,818 |
|
|
— |
|
|
19,818 |
Government bonds |
|
|
— |
|
|
14,744 |
|
|
— |
|
|
14,744 |
Asset-backed securities |
|
|
— |
|
|
3,998 |
|
|
— |
|
|
3,998 |
Equity securities |
|
|
1,088 |
|
|
— |
|
|
— |
|
|
1,088 |
Other investments |
|
|
— |
|
|
— |
|
|
2,000 |
|
|
2,000 |
Total assets |
|
$ |
52,362 |
|
$ |
107,155 |
|
$ |
2,000 |
|
$ |
161,517 |
Liabilities: |
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|
|
|
|
|
|
|
|
|
|
|
Contingent consideration |
|
$ |
— |
|
$ |
— |
|
$ |
2,587 |
|
$ |
2,587 |
Total liabilities |
|
$ |
— |
|
$ |
— |
|
$ |
2,587 |
|
$ |
2,587 |
|
| Schedule of Level 3 assets measured at fair value |
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|
|
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|
|
Nine Months Ended September 30, |
|
|
2023 |
|
2022 |
Balance at beginning of period |
|
$ |
2,000 |
|
$ |
6,750 |
Changes in fair value |
|
|
— |
|
|
(745) |
Disposals |
|
|
— |
|
|
(3,155) |
Balance at end of period |
|
$ |
2,000 |
|
$ |
2,850 |
|
| Schedule of Level 3 liabilities measured at fair value |
The following table presents information about the Company’s movement in Level 3 liabilities measured at fair value (in thousands):
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|
|
|
|
|
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|
|
Nine Months Ended September 30, |
|
|
2023 |
|
2022 |
Balance at beginning of period |
|
$ |
2,587 |
|
$ |
5,654 |
Payment of contingent consideration liability |
|
|
(2,390) |
|
|
(1,500) |
Sale of Aerosint |
|
|
(197) |
|
|
— |
Changes in fair value |
|
|
— |
|
|
(254) |
Balance at end of period |
|
$ |
— |
|
$ |
3,900 |
|