Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 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 September 30, 2023
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 73,171  $ —  $ —  $ 73,171 
Treasury bills —  49,372  —  49,372 
$ 73,171  $ 49,372  $ —  $ 122,543 
Liabilities:
Contingent earn-out liability $ —  $ —  $ 31,571  $ 31,571 
Contingently issuable common stock liability —  —  6,952  6,952 
Public Warrant liability 11,469  —  —  11,469 
$ 11,469  $ —  $ 38,523  $ 49,992 
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 17,353 
Balance at September 30, 2023 $ 31,571 
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 3,560 
Balance at September 30, 2023 $ 6,952 
The following table provides a rollforward of the public warrant liability (in thousands):
Balance at December 31, 2022 $ 6,124 
Change in fair value 5,345 
Balance at September 30, 2023 $ 11,469