N-able Inc
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
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7. Fair Value Measurements
- Fair Value Measurements
The following table summarizes the fair value of our money market fund financial assets and contingent consideration financial liabilities that were measured on a recurring basis as of December 31, 2024 and 2023. See Note 3. Acquisitions, Note 8. Accrued Liabilities and Other and Note 15. Commitments and Contingencies for additional information regarding our contingent consideration liabilities. There have been no transfers between fair value measurement levels during the years ended December 31, 2024 and 2023.
| Fair Value Measurements atDecember 31, 2024 Using | ||||
|---|---|---|---|---|
| Quoted Prices inActive Marketsfor Identical Assets(Level 1) | SignificantOtherObservableInputs(Level 2) | SignificantUnobservableInputs(Level 3) | Total | |
| (in thousands) | ||||
| Assets: | ||||
| Money market funds | $43,976 | $— | $— | $43,976 |
| Liabilities: | ||||
| Contingent consideration | $— | $— | $14,050 | $14,050 |
| Fair Value Measurements atDecember 31, 2023 Using | ||||
|---|---|---|---|---|
| Quoted Prices inActive Marketsfor Identical Assets(Level 1) | SignificantOtherObservableInputs(Level 2) | SignificantUnobservableInputs(Level 3) | Total | |
| (in thousands) | ||||
| Assets: | ||||
| Money market funds | $98,560 | $— | $— | $98,560 |
| Liabilities: | ||||
| Contingent consideration | $— | $— | $3,650 | $3,650 |
The following table presents a summary of the changes in the fair value of our contingent consideration liabilities measured using Level 3 inputs:
| (in thousands) | |
|---|---|
| Balance as of December 31, 2022 | $5,090 |
| Net gains recognized | (1,440) |
| Balance as of December 31, 2023 | 3,650 |
| Acquisitions | 16,620 |
| Net gains recognized | (6,220) |
| Balance as of December 31, 2024 | $14,050 |
As of December 31, 2024 and 2023, the carrying value of our outstanding debt approximates its estimated fair value as the interest rate on the debt is adjusted for changes in market rates. See Note 9. Debt for additional information regarding our debt.
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