| Fair Value of Financial Instruments |
13. FAIR VALUE OF FINANCIAL INSTRUMENTS The following financial instruments are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
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June 30, 2026 |
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December 31, 2025 |
|
Interest rate swap(1) |
$ |
813 |
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|
$ |
— |
|
Foreign currency forward contract(2) |
|
516 |
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|
— |
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Total Assets |
$ |
1,329 |
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|
$ |
— |
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|
|
|
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Business acquisitions contingent consideration, current |
$ |
6,182 |
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|
$ |
14,883 |
|
Business acquisitions contingent consideration, long-term |
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— |
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|
2,755 |
|
Interest rate swap(1) |
|
— |
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|
|
429 |
|
Total Liabilities |
$ |
6,182 |
|
|
$ |
18,067 |
|
_____________________________
(1) Included in prepaid and other current assets and other non-current liabilities in the unaudited condensed consolidated statement of financial position as of June 30, 2026 and audited condensed consolidated statement of financial position as of December 31, 2025, respectively. (2) Included in prepaid and other current assets in the unaudited condensed consolidated statement of financial position as of June 30, 2026. The estimated fair value amounts shown above are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company’s intent or ability to dispose of the financial instrument. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis:
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Interest Rate Swap |
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Foreign Currency Forward Contract |
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Total Assets |
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Business Acquisitions Contingent Consideration, Current |
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Business Acquisitions Contingent Consideration, Long-term |
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Conversion Option Related to Series A-2 Preferred Stock |
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Interest Rate Swap |
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Total Liabilities |
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Balance as of December 31, 2024 |
$ |
1,544 |
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|
$ |
— |
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|
$ |
1,544 |
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|
$ |
26,872 |
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|
$ |
6,255 |
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|
$ |
20,224 |
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|
$ |
— |
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|
$ |
53,351 |
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Changes in fair value included in earnings |
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(1,544 |
) |
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— |
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(1,544 |
) |
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(252 |
) |
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1,104 |
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(9,672 |
) |
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(88 |
) |
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(8,908 |
) |
Payment of contingent consideration payable |
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— |
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— |
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— |
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(10,897 |
) |
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— |
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— |
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— |
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(10,897 |
) |
Reclass of long term to short term contingent liabilities |
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— |
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— |
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— |
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|
13 |
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(13 |
) |
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— |
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— |
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— |
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Measurement period adjustment |
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— |
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— |
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— |
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1,548 |
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— |
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— |
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— |
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|
1,548 |
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Balance as of June 30, 2025 |
$ |
— |
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|
$ |
— |
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|
$ |
— |
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|
$ |
17,284 |
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|
$ |
7,346 |
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|
$ |
10,552 |
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|
$ |
(88 |
) |
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$ |
35,094 |
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Balance as of December 31, 2025 |
$ |
— |
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|
$ |
— |
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|
$ |
— |
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|
$ |
14,883 |
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|
$ |
2,755 |
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|
$ |
— |
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|
$ |
429 |
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|
$ |
18,067 |
|
Changes in fair value included in earnings |
|
813 |
|
|
|
516 |
|
|
|
1,329 |
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|
205 |
|
|
|
(902 |
) |
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|
— |
|
|
|
(429 |
) |
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|
(1,126 |
) |
Payment of contingent consideration payable |
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— |
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— |
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— |
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(10,759 |
) |
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— |
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— |
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— |
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|
(10,759 |
) |
Reclass of long term to short term contingent liabilities |
|
— |
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— |
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— |
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|
1,853 |
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(1,853 |
) |
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— |
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— |
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— |
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Balance as of June 30, 2026 |
$ |
813 |
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$ |
516 |
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$ |
1,329 |
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$ |
6,182 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
— |
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|
$ |
6,182 |
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