Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

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, 2022	$	3,005
Change in fair value of outstanding warrants	1,054
Balance as of March 31, 2023	$	4,059

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, 2023 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	34,202	$	—	$	—	$	34,202
U.S. treasury securities	29,827		—		—		29,827
Total cash equivalents	$	64,029	$	—	$	—	$	64,029
Marketable investments:
U.S. treasury securities	$	197,062	$	—	$	—	$	197,062
U.S. agency and government sponsored securities	—		4,975		—		4,975
Commercial paper	—		27,202		—		27,202
Corporate bonds	—		72,918		—		72,918
Asset-backed securities	—		4,490		—		4,490
Marketable equity investments	25,716		—		—		25,716
Total marketable investments	$	222,778	$	109,585	$	—	$	332,363
Liabilities:
Private Warrants	$	—	$	—	$	4,059	$	4,059

	Fair Value (in thousands) Measured as of December 31, 2022 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	42,056	$	—	$	—	$	42,056
Total cash equivalents	$	42,056	$	—	$	—	$	42,056
Marketable investments:
U.S. treasury securities	$	188,480	$	—	$	—	$	188,480
U.S. agency and government sponsored securities	—		4,924		—		4,924
Commercial paper	—		74,523		—		74,523
Corporate bonds	—		109,909		—		109,909
Asset-backed securities	—		11,835		—		11,835
Marketable equity investments	29,643		—		—		29,643
Total marketable investments	$	218,123	$	201,191	$	—	$	419,314
Liabilities:
Private Warrants	$	—	$	—	$	3,005	$	3,005