v3.25.2
Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities on Recurring Basis The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis (in thousands):
June 30, 2025
Level 1Level 2Level 3Total
Liabilities
Contingent consideration (1)
$— $— $2,750 $2,750 
Total fair value of liabilities measured on a recurring basis$— $— $2,750 $2,750 

December 31, 2024
Level 1Level 2Level 3Total
Liabilities
Contingent consideration (1)
$— $— $5,000 $5,000 
Total fair value of liabilities measured on a recurring basis$— $— $5,000 $5,000 
————————
(1)Contingent consideration as of June 30, 2025 represents the earn-out consideration related to the Machinify transaction described in Note 4 and the contingent consideration as of December 31, 2024 includes $1.9 million of earn-out consideration related to Machinify and $3.1 million of annual incentive payments to Evolent Care Partners providers based on membership attribution.
Schedule of Changes in Contingent Consideration Measured at Fair Value
The changes in our liabilities measured at fair value for which the Company uses Level 3 inputs to determine fair value are as follows (in thousands):
For the Six Months Ended June 30,
20252024
Balance as of beginning of period$5,000 $83,600 
Settlements(5,176)(92,508)
Change in fair value of contingent consideration2,926 8,908 
Balance as of end of period$2,750 $— 
Schedule of Valuation Techniques and Significant Unobservable Inputs
The following table summarizes the fair value (in thousands), valuation techniques and significant unobservable inputs of our Level 3 fair value measurements as of the periods presented:


June 30, 2025
Fair ValuationSignificantAssumption or
ValueTechniqueUnobservable InputsInput Ranges
Machinify contingent consideration$2,750 Contractual obligationN/AN/A
December 31, 2024
Fair ValuationSignificantAssumption or
ValueTechniqueUnobservable InputsInput Ranges
Machinify contingent consideration$1,900 Real options approachRisk-neutral expected earnout consideration$1,900 
Discount rate6.57 %
ECP contingent consideration$3,100 Contractual obligationN/AN/A