Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2021 (in thousands):

	Private Warrants
Balance as of December 31, 2020	$	—
Private warrants transferred from Level 2	52,832
Measurement adjustments	(25,079)
Balance as of September 30, 2021	$	27,753

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 September 30, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	65,032	$	—	$	—	$	65,032
Commercial paper	—		47,194		—		47,194
Total cash equivalents	$	65,032	$	47,194	$	—	$	112,226
Marketable investments:
U.S. Treasury	$	120,210	$	—	$	—	$	120,210
U.S. agency and government sponsored securities	—		4,994		—		4,994
Commercial paper	—		85,800		—		85,800
Corporate bonds	—		138,970		—		138,970
Asset-backed securities	—		20,822		—		20,822
Equity investments	44,748		—		—		44,748
Total marketable investments	$	164,958	$	250,586	$	—	$	415,544
Liabilities:
Private Warrants	$	—	$	—	$	27,753	$	27,753
Total warrant liabilities	$	—	$	—	$	27,753	$	27,753

	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