FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of financial assets and liabilities subject to fair value measurements on a recurring basis

The following table sets forth the Company’s financial assets and liabilities subject to fair value measurements on a recurring basis by level within the fair value hierarchy as of December 31, 2020 (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Short-term investment –
Certificates of deposit	$	—	$	505	$	—	$	505
Restricted cash – short term		11,278		—		—		11,278
Restricted cash – long term		14,728		—		—		14,728
Total assets	$	26,006	$	505	$	—	$	26,511
Liabilities:
Convertible preferred share warrant liability	$	—	$	—	$	2,960	$	2,960
Total liabilities	$	—	$	—	$	2,960	$	2,960

The following table sets forth the Company’s financial assets and liabilities subject to fair value measurements on a recurring basis by level within the fair value hierarchy as of December 31, 2019 (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Short-term investment −
Certificate of deposit	$	—	$	505	$	—	$	505
Restricted cash – short term		19,767		—		—		19,767
Restricted cash – long term		8,200		—		—		8,200
Total assets	$	27,967	$	505	$	—	$	28,472
Liabilities:
Convertible preferred share warrant liability	$	—	$	—	$	1,755	$	1,755
Contingent forward contracts liability		—		—		30,844		30,844
Total liabilities	$	—	$	—	$	32,599	$	32,599

Contingent forward contracts liability

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of the changes in the fair value of the liabilities, measured on a recurring basis

A reconciliation of the contingent forward contract liability measured and recorded at fair value on a recurring basis is as follows (in thousands):

Fair value-December 31, 2018	$	15,791
Change in fair value		15,053
Fair value-December 31, 2019		30,844
Change in fair value of Series D contingent forward contract		8,720
Settlement of Series D contingent forward contract		(39,563)
Issuance of Series E contingent forward contract		793
Change in fair value of Series E contingent forward contract		109,662
Settlement of Series E contingent forward contract		(110,456)
Fair value-December 31, 2020	$	—

Convertible preferred share warrant liability

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of the changes in the fair value of the liabilities, measured on a recurring basis

A reconciliation of the convertible preferred share warrant liabilities measured and recorded at fair value on a recurring basis is as follows (in thousands):

Fair value-December 31, 2018	$	1,349
Change in fair value		406
Fair value-December 31, 2019		1,755
Change in fair value		1,205
Fair value-December 31, 2020	$	2,960