Fair Value Measurements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Changes in Level 3 Liabilities Measured at Fair Value

The following table presents changes in Level 3 liabilities relating to Private Warrants measured at fair value as of March 31, 2021 (in thousands):

	Private Warrants
Balance as of December 31, 2020	$	—
Additions	51,753
Exercise	—
Measurement adjustments	—
Balance as of March 31, 2021	$	51,753

The following table presents changes in Level 3 liabilities measured at fair value for the years ended December 31, 2019 (in thousands):

	SAFEs		2017 Warrants		2018 Warrants
Balance-beginning of year	$	122,588	$	808	$	58
Additions	37,379		—		—
Exercise or conversion	(184,182)		—		—
Measurement adjustments	24,215		227		29
Balance-end of year	$	—	$	1,035	$	87

The following table presents changes in Level 3 liabilities measured at fair value for the years ended December 31, 2020 (in thousands):

	2017 Warrants		2018 Warrants		2020 Warrants
Balance-beginning of year	$	1,035	$	87	$	—
Additions	—		—		1,728
Exercise or conversion	(13,714)		(1,700)		(14,698)
Measurement adjustments	12,679		1,613		12,970
Balance-end of year	$	—	$	—	$	—

Schedule of Financial Assets and Liabilities Subject to Fair Value Measurements on a Recurring Basis and the Level of Inputs Used

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (in thousands):

	Fair Value (in thousands) Measured as of March 31, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	19,035	$	—	$	—	$	19,035
U.S. Treasury	—		—		—		—
Commercial paper	—		166,255		—		166,255
Total cash equivalents	$	19,035	$	166,255	$	—	$	185,290
Marketable investments:
U.S. Treasury	$	210,709	$	—	$	—	$	210,709
U.S. agency and government sponsored securities	—		—		—		—
Commercial paper	—		106,209		—		106,209
Corporate bonds	—		61,672		—		61,672
Asset-backed securities	—		8,051		—		8,051
Equity investments	$	16,950	$	—	$	—	$	16,950
Total marketable investments	$	227,659	$	175,932	$	—	$	403,591
Liabilities:
Public Warrants	$	—	$	—	$	—	$	—
Private Warrants	—		—		51,753		51,753
Total warrant liabilities	$	—	$	—	$	51,753	$	51,753

	Fair Value (in thousands) Measured as of December 31, 2020 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	64,971	$	—	$	—	$	64,971
U.S. Treasury	24,999		—		—		24,999
Commercial paper	—		108,322		—		108,322
Total cash equivalents	$	89,970	$	108,322	$	—	$	198,292
Marketable investments:
U.S. Treasury	$	130,348	$	—	$	—	$	130,348
U.S. agency and government sponsored securities	—		19,996		—		19,996
Commercial paper	—		73,898		—		73,898
Corporate bonds	—		45,450		—		45,450
Asset-backed securities	—		7,018		—		7,018
Total marketable investments	$	130,348	$	146,362	$	—	$	276,710
Liabilities:
Public Warrants	$	228,933	$	—	$	—	$	228,933
Private Warrants	—		114,467		—		114,467
Total warrant liabilities	$	228,933	$	114,467	$	—	$	343,400

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (in thousands):

	Fair Value (in thousands) Measured as of December 31, 2020 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	64,971	$	—	$	—	$	64,971
U.S. Treasury	24,999		—		—		24,999
Commercial paper	—		108,322		—		108,322
Total cash equivalents	$	89,970	$	108,322	$	—	$	198,292
Marketable investments:
U.S. Treasury	$	130,348	$	—	$	—	$	130,348
U.S. agency and government sponsored securities	—		19,996		—		19,996
Commercial paper	—		73,898		—		73,898
Corporate bonds	—		45,450		—		45,450
Asset-backed securities	—		7,018		—		7,018
Total marketable investments	$	130,348	$	146,362	$	—	$	276,710
Liabilities:
Public Warrants	$	228,933	$	—	$	—	$	228,933
Private Warrants	—		114,467		—		114,467
Total warrant liabilities	$	228,933	$	114,467	$	—	$	343,400

	Fair Value (in thousands) Measured as of December 31, 2019 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	2,260	$	—	$	—	$	2,260
U.S. agency securities	—		1,398		—		1,398
Commercial paper	—		16,971		—		16,971
Corporate bonds	—		775		—		775
Total cash equivalents	$	2,260	$	19,144	$	—	$	21,404
Marketable investments:
U.S. Treasury	$	749	$	—	$	—	$	749
Commercial paper	—		3,212		—		3,212
Corporate bonds	—		2,698		—		2,698
Total marketable investments	$	749	$	5,910	$	—	$	6,659
Liabilities:
2017 Warrants	$	—	$	—	$	1,035	$	1,035
2018 Warrants	—		—		87		87
Total warrant liabilities	$	—	$	—	$	1,122	$	1,122