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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis included the following as of June 30, 2022, and December 31, 2021 (in thousands):

 

 

June 30, 2022

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

75,043

 

 

 

 

 

 

 

 

$

75,043

 

Total cash equivalents

$

75,043

 

 

 

 

 

 

 

 

$

75,043

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability classified equity award

$

 

 

 

 

 

 

1,061

 

 

$

1,061

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

140,010

 

 

 

 

 

 

 

 

$

140,010

 

Total cash equivalents

$

140,010

 

 

 

 

 

 

 

 

$

140,010

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability classified equity award

$

 

 

 

 

 

 

2,052

 

 

$

2,052

 

Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs

The following table provides a reconciliation of liabilities measured at fair value using significant unobservable inputs (Level 3) for the six months ended June 30, 2022 (in thousands):

 

 

 

Level 3
Liabilities

 

Balance at December 31, 2021

 

$

2,052

 

Straight-line recognition of liability classified equity award

 

 

196

 

Change in fair value measurement

 

 

80

 

Balance at March 31, 2022

 

$

2,328

 

Straight-line recognition of liability classified equity award

 

 

202

 

Change in fair value measurement

 

 

(1,469

)

Balance at June 30, 2022

 

$

1,061