SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The reconciliation of cash and cash equivalents and restricted cash and cash equivalents to amounts presented in the consolidated statements of cash flows are as follows:

	As of
	September 30, 2020		December 31, 2019
Cash and cash equivalents	$	907,530	$	85,688
Restricted cash and cash equivalents – current	10,952		—
Restricted cash and cash equivalents – non-current	4,000		4,144
Cash, cash equivalents and restricted cash and cash equivalents	$	922,482	$	89,832

Restrictions on Cash and Cash Equivalents

The reconciliation of cash and cash equivalents and restricted cash and cash equivalents to amounts presented in the consolidated statements of cash flows are as follows:

	As of
	September 30, 2020		December 31, 2019
Cash and cash equivalents	$	907,530	$	85,688
Restricted cash and cash equivalents – current	10,952		—
Restricted cash and cash equivalents – non-current	4,000		4,144
Cash, cash equivalents and restricted cash and cash equivalents	$	922,482	$	89,832

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

The carrying value and fair value of the Company’s financial instruments are as follows:

	As of September 30, 2020
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents – money market	$	662,275	$	—	$	—	$	662,275
Restricted cash equivalents – money market	$	4,100	$	—	$	—	$	4,100

	As of December 31, 2019
	Level 1		Level 2	Level 3	Total
Assets
Cash equivalents – money market	$	73,005	—	—	$	73,005
Restricted cash equivalents – money market	4,144		—	—	4,144

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The change in fair value of the Forward Contract Liability was as follows:

Balance as of December 31, 2019	—
Change in fair value	1,324
Settlement of forward contract liability	$	(1,324)
Balance as of September 30, 2020	$	—

Fair Value Measurement Inputs and Valuation Techniques

The following reflects the significant quantitative inputs used:

	As of
	April 10, 2020			December 31, 2019
Estimated future value of Series D redeemable convertible preferred stock	$	10.00		$	9.74
Discount rate	—		%	1.56		%
Time to liquidity (years)	0			0.3