Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2023
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 March 31, 2023
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 17  $ —  $ —  $ 17 
$ 17  $ —  $ —  $ 17 
Liabilities:
Contingent earn-out liability $ —  $ —  $ 17,536  $ 17,536 
Contingently issuable common stock liability —  —  4,134  4,134 
Public Warrant liability 7,874  —  —  7,874 
$ 7,874  $ —  $ 21,670  $ 29,544 
Fair Value Measurements as of December 31, 2022
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 149,971  $ —  $ —  $ 149,971 
$ 149,971  $ —  $ —  $ 149,971 
Liabilities:
Contingent earn-out liability $ —  $ —  $ 14,218  $ 14,218 
Contingently issuable common stock liability —  —  3,392  3,392 
Public Warrant liability 6,124  —  —  6,124 
$ 6,124  $ —  $ 17,610  $ 23,734 
Schedule of common stock warrant liability
The following table provides a rollforward of the contingent earn-out liability (in thousands):
Balance at December 31, 2022 $ 14,218
Change in fair value 3,318
Balance at March 31, 2023 $ 17,536
The following table provides a rollforward of the contingently issuable common shares (in thousands):
Balance at December 31, 2022 $ 3,392 
Change in fair value 742 
Balance at March 31, 2023 $ 4,134 
The following table provides a rollforward of the public warrant liability (in thousands):
Balance at December 31, 2022 $ 6,124
Change in fair value 1,750 
Balance at March 31, 2023 $ 7,874