Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of financial assets and liabilities measured at fair value on a recurring basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):

Fair Value Measurements at March 31, 2022

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets:

Money market funds

$

257,555

$

$

$

257,555

$

257,555

$

$

$

257,555

Liabilities:

  

 

  

 

  

 

  

Contingent earn-out liability

$

$

$

18,128

$

18,128

Contingently issuable common stock liability

3,792

3,792

Public Warrant liability

5,444

5,444

$

$

$

27,364

$

27,364

Fair Value Measurements as of December 31, 2021

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets:

Money market funds

$

297,536

$

$

$

297,536

$

297,536

$

$

$

297,536

Liabilities:

  

 

  

 

  

 

  

Contingent earn-out liability

$

$

$

20,809

$

20,809

Contingently issuable common stock liability

5,264

5,264

Public Warrant liability

11,030

11,030

$

$

$

37,103

$

37,103

Contingent Earn-Out Liability  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of contingent earn-out liability

The following table provides a rollforward of the contingent earn-out liability (in thousands):

Balance at December 31, 2021

$

20,809

Change in fair value

 

(4,226)

Out-of-period adjustment

1,545

Balance at March 31, 2022

$

18,128

Contingently Issuable Common Stock Liability  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of common stock warrant liability

The following table provides a rollforward of the contingently issuable common shares (in thousands):

Balance at December 31, 2021

$

5,264

Change in fair value

 

(1,472)

Balance at March 31, 2022

$

3,792

Public Warrant Liability.  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Schedule of common stock warrant liability

The following table provides a rollforward of the public warrant liability (in thousands):

Balance at December 31, 2021

$

11,030

Change in fair value

 

(5,586)

Balance at March 31, 2022

$

5,444