Fair Value Measurements (FY) (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the conclusions reached as of December 31, 2020 and 2019:

	December 31, 2020
	Balance		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents⁽¹⁾	$	14,642	$	14,642	$	—	$	—
Short-term investments		—		—		—		—
Restricted Cash		3,277		3,277		—		—
	$	17,919	$	17,919	$	—	$	—
Liabilities:
Contingent consideration⁽²⁾	$	660	$	—	$	—	$	660
Warrants to purchase Series C Preferred stock⁽³⁾		1,172		—		—		1,172
	$	1,832	$	—	$	—	$	1,832

	December 31, 2019
	Balance		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents⁽¹⁾	$	4,736	$	4,736	$	—	$	—
	$	4,736	$	4,736	$	—	$	—
Liabilities:
Contingent consideration⁽²⁾	$	1,066	$	—	$	—	$	1,066
Warrants to purchase Series C Preferred stock⁽⁴⁾		246		—		—		246
	$	1,312	$	—	$	—	$	1,312

(1)	As of December 31, 2020 and 2019, cash and cash equivalents included money market obligations measured at fair value using Level 1 inputs.

(2)

The Company’s business acquisition of Second Phase (discussed in Note 3) is included in contingent consideration. The Company’s valuation of the fair value of contingent consideration related to Second Phase at December 31, 2020 was based on management’s expectations of the achievement of targets related to the contingent consideration.

(3)

As of December 31, 2020, the Company had outstanding warrants to purchase Series C Preferred stock, as described in Note 9. The determination of the fair value of the warrants was estimated using a Black-Scholes option pricing model with the following assumptions: Stock price for Series C Preferred stock of $13.03; term of 3.5 years; risk-free rate of 0.21%; volatility of 52%; and a dividend yield of 0.0%.

(4)

As of December 31, 2019, the fair value of the warrants to purchase Series C Preferred stock was estimated using a Black-Scholes option pricing model with the following assumptions: Stock price for Series C Preferred stock of $3.81; term of 4.5 years; risk-free rate of 1.67%; volatility of 47%; and a dividend yield of 0.0%.

Change in Measured at Fair Value on a Recurring Basis for Using Significant Unobservable Inputs (Level 3)

The following tables presents the changes in the Company’s Level 3 instruments measured at fair value on a recurring basis for the periods ended March 31, 2021 and December 31, 2020:

Warrants Liability:
Ending balance, December 31, 2020	$	1,172
Change in fair value⁽¹⁾		256
Exercise of Series C warrants		(1,428	)
Ending balance, March 31, 2021	$	—

Contingent Consideration:
Ending balance, December 31, 2020 (current and long-term liabilities)	$	660
Adjustments to contingent consideration		(290	)
Ending balance, March 31, 2021 (current and long-term liabilities)	$	370

(1)	Amount is included in other expense in the accompanying Statements of Operations and Comprehensive Loss.

The following tables presents the changes in the Company’s Level 3 instruments measured at fair value on a recurring basis for the years ended December 31, 2020 and 2019:

Warrants Liability:

Ending balance, December 31, 2018	$	234
Change in fair value⁽¹⁾		12
Ending balance, December 31, 2019	$	246
Change in fair value⁽¹⁾		926
Ending balance, December 31, 2020	$	1,172

Contingent Consideration:

Ending balance, December 31, 2018 (current and long-term liabilities)	$	—
Contingent Consideration attributable to the Second Phase acquisition		1,066
Ending balance, December 31, 2019 (current and long-term liabilities)	$	1,066
Fair value adjustments to contingent consideration		(406	)
Ending balance, December 31, 2020 (current and long-term liabilities)	$	660

(1)	Amount is included in other expense in the accompanying Statements of Operations and Comprehensive Loss.