FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present information by year about the Company’s financial instruments that are measured at fair value on a recurring basis, by level, within the fair value hierarchy:


	As of December 31, 2025
($ in thousands)	Total	Quoted Prices in Active Market	Significant Other Observable Inputs	Significant Other Unobservable Inputs
		(Level 1)	(Level 2)	(Level 3)


Liabilities:
Derivative warrant liabilities - Public	517	517	—	—
Derivative warrant liabilities - Private	664	—	664	—
Contingent consideration liabilities	21,020	—	—	21,020
Embedded derivatives	11,833	—	—	11,833


	As of December 31, 2024
($ in thousands)	Total	Quoted Prices in Active Market	Significant Other Observable Inputs	Significant Other Unobservable Inputs
		(Level 1)	(Level 2)	(Level 3)
Liabilities:
Derivative warrant liabilities - Public	1,983	1,983	—	—
Derivative warrant liabilities - Private	3,038	—	3,038	—

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables summarize the change of all liabilities measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3):


(In thousands)	Contingent Consideration		Embedded Derivatives
Liabilities:
Balance at January 1, 2025	$	—	$	—
Additions	21,881		12,553
Settlements	—		(864)
Change in fair value	(861)		144
Balance at December 31, 2025	$	21,020	$	11,833

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables summarize the change of all liabilities measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3):


(In thousands)	Contingent Consideration		Embedded Derivatives
Liabilities:
Balance at January 1, 2025	$	—	$	—
Additions	21,881		12,553
Settlements	—		(864)
Change in fair value	(861)		144
Balance at December 31, 2025	$	21,020	$	11,833

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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