Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

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 (in thousands):

	Private Warrants
Balance as of December 31, 2021	$	31,230
Change in fair value prior to exercises	4,713
Reduction in liability due to exercises	(19,003)
Change in fair value of outstanding warrants	(12,589)
Balance as of June 30, 2022	$	4,351

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, 2022 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	28,107	$	—	$	—	$	28,107
Commercial paper	—		7,498		—		7,498
Total cash equivalents	$	28,107	$	7,498	$	—	$	35,605
Marketable investments:
U.S. treasury securities	$	237,757	$	—	$	—	$	237,757
U.S. agency and government sponsored securities	—		4,881		—		4,881
Commercial paper	—		74,514		—		74,514
Corporate bonds	—		145,882		—		145,882
Asset-backed securities	—		31,395		—		31,395
Equity investments	34,119		—		—		34,119
Total marketable investments	$	271,876	$	256,672	$	—	$	528,548
Liabilities:
Private Warrants	$	—	$	—	$	4,351	$	4,351
Total warrant liabilities	$	—	$	—	$	4,351	$	4,351

	Fair Value (in thousands) Measured as of December 31, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	25,654	$	—	$	—	$	25,654
Commercial paper	—		950		—		950
Total cash equivalents	$	25,654	$	950	$	—	$	26,604
Marketable investments:
U.S. treasury securities	$	161,465	$	—	$	—	$	161,465
U.S. agency and government sponsored securities	—		4,970		—		4,970
Commercial paper	—		39,834		—		39,834
Corporate bonds	—		165,190		—		165,190
Asset-backed securities	—		46,466		—		46,466
Marketable equity investments	44,216		—		—		44,216
Total marketable investments	$	205,681	$	256,460	$	—	$	462,141
Liabilities:
Private Warrants	—		—		31,230		31,230
Total warrant liabilities	$	—	$	—	$	31,230	$	31,230