Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.2.2
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
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 September 30, 2022
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 198,610  $ —  $ —  $ 198,610 
$ 198,610  $ —  $ —  $ 198,610 
Liabilities:
Contingent earn-out liability $ —  $ —  $ 11,452  $ 11,452 
Contingently issuable common stock liability —  —  2,735  2,735 
Public Warrant liability 6,733  —  —  6,733 
$ 6,733  $ —  $ 14,187  $ 20,920 
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 $ —  $ —  21,206  $ 21,206 
Contingently issuable common stock liability —  —  5,264  5,264 
Public Warrant liability 11,030  —  —  11,030 
$ 11,030  $ —  $ 26,470  $ 37,500 
Schedule of common stock warrant liability
The following table provides a rollforward of the contingent earn-out liability (in thousands):
December 31, 2021 $ 21,206
Change in fair value (9,754)
September 30, 2022 $ 11,452
The following table provides a rollforward of the contingently issuable common shares (in thousands):
December 31, 2021 $ 5,264 
Change in fair value (2,529)
September 30, 2022 $ 2,735 
The following table provides a rollforward of the public warrant liability (in thousands):
December 31, 2021 $ 11,030
Change in fair value (4,297)
September 30, 2022 $ 6,733