Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 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 exercise in January 2022	4,586
Exercises in January 2022	(18,688)
Other measurement adjustments	(729)
Balance as of March 31, 2022	$	16,399

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, 2022 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	47,497	$	—	$	—	$	47,497
U.S. treasury securities	19,997		—		—		19,997
Commercial paper	—		60,178		—		60,178
Total cash equivalents	$	67,494	$	60,178	$	—	$	127,672
Marketable investments:
U.S. treasury securities	$	228,992	$	—	$	—	$	228,992
U.S. agency and government sponsored securities	—		4,907		—		4,907
Commercial paper	—		69,800		—		69,800
Corporate bonds	—		157,248		—		157,248
Asset-backed securities	—		40,874		—		40,874
Equity investments	45,619		—		—		45,619
Total marketable investments	$	274,611	$	272,829	$	—	$	547,440
Liabilities:
Private Warrants	$	—	$	—	$	16,399	$	16,399
Total warrant liabilities	$	—	$	—	$	16,399	$	16,399

	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