Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2023
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 141,612  $ —  $ —  $ 141,612 
$ 141,612  $ —  $ —  $ 141,612 
Liabilities:
Contingent earn-out liability $ —  $ —  $ 45,649  $ 45,649 
Contingently issuable common stock liability —  —  9,229  9,229 
Public Warrant liability 19,625  —  —  19,625 
$ 19,625  $ —  $ 54,878  $ 74,503 
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 31,431 
Balance at June 30, 2023 $ 45,649 
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 5,837 
Balance at June 30, 2023 $ 9,229 
The following table provides a rollforward of the public warrant liability (in thousands):
Balance at December 31, 2022 $ 6,124 
Change in fair value 13,501 
Balance at June 30, 2023 $ 19,625