Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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	1,028
Balance as of June 30, 2023	$	4,033

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, 2023 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	55,517	$	—	$	—	$	55,517
Total cash equivalents	$	55,517	$	—	$	—	$	55,517
Marketable investments:
U.S. treasury securities	$	209,881	$	—	$	—	$	209,881
Commercial paper	—		7,453		—		7,453
Corporate bonds	—		43,857		—		43,857
Asset-backed securities	—		978		—		978
Marketable equity investments	14,509		—		—		14,509
Total marketable investments	$	224,390	$	52,288	$	—	$	276,678
Liabilities:
Private Warrants	$	—	$	—	$	4,033	$	4,033

	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