Fair Value Measurements (Tables)

9 Months Ended

Sep. 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	(11,358)
Balance as of September 30, 2022	$	5,582

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, 2022 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	23,118	$	—	$	—	$	23,118
Commercial paper	—		9,995		—		9,995
Total cash equivalents	$	23,118	$	9,995	$	—	$	33,113
Marketable investments:
U.S. treasury securities	$	207,102	$	—	$	—	$	207,102
U.S. agency and government sponsored securities	—		4,881		—		4,881
Commercial paper	—		113,683		—		113,683
Corporate bonds	—		123,845		—		123,845
Asset-backed securities	—		20,887		—		20,887
Marketable equity investments	26,585		—		—		26,585
Total marketable investments	$	233,687	$	263,296	$	—	$	496,983
Liabilities:
Private Warrants	$	—	$	—	$	5,582	$	5,582
Total warrant liabilities	$	—	$	—	$	5,582	$	5,582

	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