| Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2026 and December 31, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.
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Level |
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September 30, 2026 |
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December 31, 2025 |
| Assets |
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| Money market fund (1) |
1 |
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$ |
25,559 |
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$ |
23,111 |
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| Contingent consideration asset related to sale of business |
3 |
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16,240 |
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27,700 |
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| Indemnity holdback related to sale of business |
3 |
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9,281 |
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|
8,700 |
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| Total assets at fair value |
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$ |
51,080 |
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$ |
59,511 |
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| Liabilities |
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Warrant liabilities - Public Warrants |
1 |
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$ |
— |
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$ |
990 |
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Warrant liabilities - Private Warrants |
2 |
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— |
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540 |
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| Share-based payment liability-classified related to sale of business |
3 |
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16,830 |
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15,138 |
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| Equity consideration in escrow and contingent consideration - Keystone acquisition |
3 |
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11,800 |
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9,072 |
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| Contingent consideration - other acquisitions |
3 |
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3,914 |
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— |
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| Total liabilities at fair value |
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$ |
32,544 |
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$ |
25,740 |
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(1) As of September 30, 2026 and December 31, 2025, the Company had cash equivalents held in a money market fund. The Company has concluded that due to the highly liquid nature of the fund, the carrying value approximates fair value, which represents a Level 1 input. The balance of cash equivalents held in the money market fund is included in cash and cash equivalents on the unaudited interim condensed consolidated balance sheets.
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| Summary of Change in Fair Value of Warrant Liabilities and Level 3 Assets and Liabilities |
The following table presents the changes in fair value of the warrant liabilities which reflects the expiration during the period:
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Public
Warrants
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Private
Placement
Warrants
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Total Warrant
Liability
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Fair value as of January 1, 2026 |
$ |
990 |
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$ |
540 |
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$ |
1,530 |
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Change in fair value through expiration of warrant liabilities |
(990) |
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(540) |
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(1,530) |
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Fair value as of September 30, 2026 |
$ |
— |
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$ |
— |
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$ |
— |
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The following table presents the changes in fair value of the Level 3 assets for the nine months ended September 30, 2026:
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Contingent Consideration Asset |
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Indemnity Holdback |
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Total |
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Fair value as of January 1, 2026 |
$ |
27,700 |
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$ |
8,700 |
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$ |
36,400 |
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Settlement of EBITDA earn-out |
(16,551) |
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— |
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(16,551) |
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Change in fair value |
5,091 |
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581 |
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5,672 |
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Fair value as of September 30, 2026 |
$ |
16,240 |
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$ |
9,281 |
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$ |
25,521 |
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The following table presents the changes in fair value of the Level 3 liabilities for the nine months ended September 30, 2026:
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Share-Based Payment Liability |
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Equity Consideration in Escrow and Contingent Consideration - Keystone |
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Contingent Consideration - Other acquisitions |
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Total |
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Fair value as of January 1, 2026 |
$ |
15,138 |
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$ |
9,072 |
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$ |
— |
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$ |
24,210 |
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| Additions |
— |
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— |
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3,302 |
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3,302 |
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| Settlement of escrow consideration |
— |
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(5,355) |
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— |
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(5,355) |
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Change in fair value |
1,692 |
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8,083 |
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|
612 |
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10,387 |
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Fair value as of September 30, 2026 |
$ |
16,830 |
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$ |
11,800 |
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$ |
3,914 |
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$ |
32,544 |
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