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Fair Value (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities measured at fair value on a recurring basis

(in thousands)

Level 1

    

Level 2

    

Level 3

    

Total

June 30, 2022

Assets

  

 

  

 

  

 

  

Cash equivalents in money market funds

$

395,565

$

$

 —

$

395,565

Restricted cash in certificates of deposit

547

547

Total

$

395,565

$

547

$

$

396,112

Liabilities

Sponsor Earn-Out liability

$

$

$

15,123

$

15,123

December 31, 2021

Assets

Cash equivalents in money market funds

$

3,014

$

$

 —

$

3,014

Restricted cash in certificates of deposit

547

547

Total

$

3,014

$

547

$

$

3,561

Schedule of the reconciliation of the Sponsor Earn-Out liability measured at fair value using significant unobservable inputs

(in thousands)

Balance as of December 31, 2021

$

—  

Additions during the period

  

36,393

Change in fair value

  

(21,270)

Balance as of June 30, 2022

$

15,123

Schedule of fair value assumptions

June 30, 2022

February 3, 2022
(Closing Date)

Stock price

$

3.93

$

7.68

Expected volatility

79.0%

81.0%

Risk free rate

3.01%

1.63%

Contractual term (in years)

4.6

5.0

Expected dividends

0%

0%