Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENT

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FAIR VALUE MEASUREMENT
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT
NOTE 8—FAIR VALUE MEASUREMENT
The carrying values of the Company’s cash and cash equivalents, receivables, net, prepaid expenses and other current assets, and accounts payable approximate fair value due to their short maturities.
The following tables present the liabilities measured at fair value on a recurring basis, by input level, in the Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023:
September 30, 2024
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 91  —  —  91 
Private Warrants —  65  —  65 
Derivative financial instruments
 335  —  —  335 
Contingent consideration
 —  —  3,255  3,255 
Total financial liabilities $ 426  $ 65  $ 3,255  $ 3,746 
December 31, 2023
Level 1 Level 2 Level 3 Total
Financial liabilities:
Public Warrants $ 635  —  —  635 
Private Warrants —  451  —  451 
Total financial liabilities $ 635  $ 451  $ —  $ 1,086 
The fair value of our Level 3 contingent consideration liabilities relate to the Pixode Acquisition. This contingent consideration is primarily based on expected payments arising from a percentage of an adjusted net revenue for a three year period commencing on the re-launch date of the rebranded Pixode assets, payable at the end of each fiscal year. The value of these payments are subject to various market and operational risks. Significant unobservable inputs include a discount rate of approximately 13.5% and the probability of revenue growth over the same three year period. See Note 4—Business Combinations for more information on the Pixode Acquisition.