Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

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 June 30, 2021 (in thousands):

	Private Warrants
Balance as of December 31, 2020	$	—
Additions	51,753
Exercise	—
Measurement adjustments	(6,928)
Balance as of June 30, 2021	$	44,825

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 June 30, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	31,867	$	—	$	—	$	31,867
Commercial paper	—		86,523		—		86,523
Total cash equivalents	$	31,867	$	86,523	$	—	$	118,390
Marketable investments:
U.S. Treasury	$	185,435	$	—	$	—	$	185,435
U.S. agency and government sponsored securities	—		4,991		—		4,991
Commercial paper	—		140,097		—		140,097
Corporate bonds	—		84,729		—		84,729
Asset-backed securities	—		14,031		—		14,031
Equity investments	16,472		—		—		16,472
Total marketable investments	$	201,907	$	243,848	$	—	$	445,755
Liabilities:
Private Warrants	$	—	$	—	$	44,825	$	44,825
Total warrant liabilities	$	—	$	—	$	44,825	$	44,825

	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