Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The Company’s debt obligations consist of the following:

	As of
	December 31, 2021				December 31, 2020
in thousands	Principal		Unamortized Discount		Principal			Unamortized Discount
Term loan	$	—	$	—	$	2,800		$	—
Equipment advances		—		—		3,636			—
Paycheck Protection Program note		—		—		4,850			—
Convertible notes		—		—		59,835			12,200
Total debt		—				71,121
Less: debt discount		—				(12,200	)
Less: current portion		—				(51,635	)
Total long-term debt book value, net	$	—			$	7,286

Schedule of Issuances Under Term Loan and Equipment Advances

The issuances under the 2018 Term Loan and 2018 Equipment Advances are as follows:

in thousands	Principal
Term Loan	$	3,000
Equipment Advances – January 31, 2019 Issuance		2,410
Equipment Advances – April 29, 2019 Issuance		2,428
Equipment Advances – June 27, 2019 Issuance		2,162
Total	$	10,000

Schedule of Changes in Fair Value of Embedded Derivatives

The following tables present changes in fair value of the embedded compound derivative (associated with the Company’s Convertible Notes) for the year ended December 30, 2021 and 2020:

	Embedded Derivative in Convertible Notes
in thousands	2021		2020
Balance – December 31	$	—	$	4,698
Additions		—		3,447
Measurement adjustments		—		(8,145	)
Balance – December 31	$	—	$	—

Schedule of Range of Inputs for Significant Assumptions Utilized to Determine Fair Value of Embedded Derivatives

The following table sets forth the range of inputs for the significant assumptions utilized to determine the fair value of embedded derivatives at each issuance:

At Issuance	June 2019 Convertible Notes			October 2019 Convertible Notes			Q4 2020 Convertible Notes
Preferred stock value	$	1.30		$	1.30		$ 1.98 – 2.32
Risk free rates	1.8% – 2.0%			0.9% – 1.8%				0.1	%
Risk-adjusted discount rate		15.0	%		15.0	%		15.0	%
Additional discount factor	0.1% – 0.9%			0.9% – 4.7%				4.7	%
Preferred volatility		15.3	%		15.3	%		20	%

Summary of Calculation of Beneficial Conversion Feature

The following table summarizes the calculation of the BCFs as of the issuance dates of these Q4 2020 Convertible Notes, which continued to be presented in additional paid in capital as of December 31, 2020:

							As of December 31, 2020
	Effective Conversion Price		Fair Value of Series B Preferred Stock		Number of Shares upon Conversion (pre-combination)		BCF in thousands
October 29, 2020	$	1.33	$	2.32		1,125,281	$	1,113
November 12, 2020		1.33		2.32		4,456,114		4,407
November 16, 2020		1.33		2.32		871,378		862
November 19, 2020		1.33		2.32		2,504,466		2,476
December 1, 2020		1.33		2.32		120,030		119
December 11, 2020		1.33		2.32		750,188		742
Total							$	9,719

Schedule of Issuances Under Convertible Notes

The issuances under the Convertible Notes are as follows:

	Maturity Date of June 10, 2021
in thousands	Principal		Interest Rate
June 10, 2019	$	12,950		2.37	%
June 12, 2019		500		2.37	%
June 13, 2019		400		2.37	%
July 19, 2019		235		2.13	%
July 25, 2019		750		2.13	%
Total	$	14,835

	Maturity Date of October 01, 2021
in thousands	Principal		Interest Rate
October 1, 2019	$	14,000		1.69	%
February 6, 2020		6,000		1.59	%
February 12, 2020		5,000		1.59	%
February 28, 2020		6,900		1.59	%
October 29, 2020		1,500		1.85	%
November 12, 2020		5,940		1.85	%
November 16, 2020		1,162		1.85	%
November 19, 2020		3,338		1.85	%
December 1. 2020		160		1.85	%
December 11, 2020		1,000		1.85	%
Total	$	45,000