Investments and fair value measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Investments on Condensed Consolidated Balance Sheets

The Company’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis within the fair value hierarchy are as follows (in thousands):

As of September 30, 2022	Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	1,457	$	—	$	—
U.S. government securities	—		7,464		—
Total cash equivalents	$	1,457	$	7,464	$	—
Marketable securities:
U.S. government securities	$	—	$	66,052	$	—
Noncurrent assets:
Strategic investments	$	—	$	—	$	12,104
Liabilities:
Cash settled stock appreciation rights	$	—	$	—	$	522

As of December 31, 2021	Level 1		Level 2		Level 3
Noncurrent assets:
Strategic investments	$	—	$	—	$	10,000
Liabilities:
Cash settled stock appreciation rights	$	—	$	—	$	818

Schedule of Investments on Condensed Consolidated Balance Sheets

The Company’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis within the fair value hierarchy are as follows (in thousands):

As of September 30, 2022	Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	1,457	$	—	$	—
U.S. government securities	—		7,464		—
Total cash equivalents	$	1,457	$	7,464	$	—
Marketable securities:
U.S. government securities	$	—	$	66,052	$	—
Noncurrent assets:
Strategic investments	$	—	$	—	$	12,104
Liabilities:
Cash settled stock appreciation rights	$	—	$	—	$	522

As of December 31, 2021	Level 1		Level 2		Level 3
Noncurrent assets:
Strategic investments	$	—	$	—	$	10,000
Liabilities:
Cash settled stock appreciation rights	$	—	$	—	$	818

Summary of the Changes in the Fair Value of Level 3 Financial Instruments

A summary of the changes in the fair value of Level 3 financial instruments, of which remeasurement of stock appreciation rights (“SARs”) are recognized in the condensed consolidated statements of operations, is as follows (in thousands):

	Warrants		Stock Appreciation Rights		Strategic Investments
Balance— June 30, 2022	$	—	$	419	$	15,000
Vesting and remeasurement of SARs, net of exercises	—		165		—
Amount reclassified from liability to equity upon exchange	—		(62)		—
Unrealized loss on strategic investments	—		—		(2,896)
Balance— September 30, 2022	$	—	$	522	$	12,104
Balance— June 30, 2021	$	—	$	791	$	—
Vesting and remeasurement of SARs	—		121		—
Balance— September 30, 2021	$	—	$	912	$	—
Balance— December 31, 2021	$	—	$	818	$	10,000
Vesting and remeasurement of SARs, net of exercises	—		(234)		—
Purchases of strategic investments	—		—		5,000
Amount reclassified from liability to equity upon exchange	—		(62)		—
Unrealized loss on strategic investments	—		—		(2,896)
Balance— September 30, 2022	$	—	$	522	$	12,104
Balance— December 31, 2020	$	160	$	268	$	—
Exercise of redeemable convertible preferred stock warrants	(160)		—		—
Vesting and remeasurement of SARs	—		644		—
Balance— September 30, 2021	$	—	$	912	$	—

Summary of the Changes in the Fair Value of Level 3 Financial Instruments

A summary of the changes in the fair value of Level 3 financial instruments, of which remeasurement of stock appreciation rights (“SARs”) are recognized in the condensed consolidated statements of operations, is as follows (in thousands):

	Warrants		Stock Appreciation Rights		Strategic Investments
Balance— June 30, 2022	$	—	$	419	$	15,000
Vesting and remeasurement of SARs, net of exercises	—		165		—
Amount reclassified from liability to equity upon exchange	—		(62)		—
Unrealized loss on strategic investments	—		—		(2,896)
Balance— September 30, 2022	$	—	$	522	$	12,104
Balance— June 30, 2021	$	—	$	791	$	—
Vesting and remeasurement of SARs	—		121		—
Balance— September 30, 2021	$	—	$	912	$	—
Balance— December 31, 2021	$	—	$	818	$	10,000
Vesting and remeasurement of SARs, net of exercises	—		(234)		—
Purchases of strategic investments	—		—		5,000
Amount reclassified from liability to equity upon exchange	—		(62)		—
Unrealized loss on strategic investments	—		—		(2,896)
Balance— September 30, 2022	$	—	$	522	$	12,104
Balance— December 31, 2020	$	160	$	268	$	—
Exercise of redeemable convertible preferred stock warrants	(160)		—		—
Vesting and remeasurement of SARs	—		644		—
Balance— September 30, 2021	$	—	$	912	$	—