Evolv Technologies Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	326,515	$	—	$	—	$	326,515
	$	326,515	$	—	$	—	$	326,515
Liabilities:
Contingent earn-out liability	$	—	$	—	$	35,027	$	35,027
Contingently issuable common stock liability		—		—		5,952		5,952
Public Warrant liability		—		—		20,484		20,484
	$	—	$	—	$	61,463	$	61,463


	Fair Value Measurements as of December 31, 2020
	Level 1		Level 2		Level 3		Total
Liabilities:
Warrant liability	$	—	$	—	$	1	$	1
Derivative liability		—		—		1,000		1,000
	$	—	$	—	$	1,001	$	1,001

Warrants to purchase common stock

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 common stock warrant liability (in thousands):


Balance at December 31, 2020	$	1
Change in fair value		879
Conversion of common stock warrant to common stock upon the closing of the Merger		(880)
Balance at September 30, 2021	$	—

Derivative Liability

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of derivative liability

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


Balance at December 31, 2020	$	1,000
Initial fair value of the embedded derivative		16,986
Change in fair value		1,745
Settlement of derivative liability upon the closing of the Merger		(19,731)
Balance at September 30, 2021	$	—

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, 2020	$	—
Initial fair value of the instrument		66,845
Change in fair value		(31,818)
Balance at September 30, 2021	$	35,027

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, 2020	$	—
Initial fair value of the instrument		11,670
Change in fair value		(5,718)
Balance at September 30, 2021	$	5,952

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, 2020	$	—
Initial fair value of the instrument		23,636
Change in fair value		(3,152)
Balance at September 30, 2021	$	20,484