Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

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 the Company’s financial assets that are measured at fair value for the years-ended December 31, 2020 and 2021 (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		—		—		22,531
Fair market value of warrant liability		—		—		31,821
	December 31, 2021
	Fair Value Measurement Category
	Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	30,317	$	—	$	—
Restricted cash		7,998		—		—
Liabilities:
Estimated fair value of contingent earn-out considerations		—		—		9,223
Fair market value of warrant liability		—		—		—

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 years-ended December 31, 2020 and 2021 are as follows (in thousands):

Balance at December 31, 2020	$	31,821
Modification of warrant liability to equity classification		(58,276	)
Change in fair value of warrant liability		26,455
Balance at December 31, 2021	$	—
Balance at December 31, 2020	$	22,531
Fair value at issuance of contingent earn-out liability		20,971
Change in fair value of contingent earn-out liability		(30,529	)
Payment of contingent earn-out liability		(3,750	)
Balance at December 31, 2021	$	9,223