Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value

The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table summarizes the fair value of our financial assets that are measured at fair value for the year ended December 31, 2020 (in thousands):

	December 31, 2020
	Fair Value Measurement Category
	Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	26,718	$	—	$	—
Restricted Cash		3,379		—		—
Liabilities:
Estimated fair value of contingent earn-out considerations (see Note 16)		—		—		22,531
Fair market value of warrant liability		—		—		31,821

Summary of Activity of the Level 3 Liabilities Carried at Fair Value on a Recurring Basis

A summary of the activity of the Level 3 liabilities carried at fair value on a recurring basis for the year-ended December 31, 2020 is as follows (in thousands):

Balance at December 31, 2019	$	—
Fair value at issuance of warrant liability		10,483
Change in fair value of warrant liability		21,338
Balance at December 31, 2020	$	31,821
Balance at December 31, 2019	$	—
Fair value at issuance of contingent earn-out liability		9,800
Change in fair value of contingent earn-out liability		12,731
Balance at December 31, 2020	$	22,531