Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):

	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	13,623	$	—	$	—	$	13,623
Commercial paper		—		35,185		—		35,185
Corporate bonds		—		19,252		—		19,252
Government bonds		—		17,719		—		17,719
Foreign bonds		—		3,667		—		3,667
Total financial assets measured at fair value	$	13,623	$	75,823	$	—	$	89,446
Liabilities(2):
Public Warrants	$	587	$	—	$	—	$	587
Private Placement Warrants		—		28		—		28
PIPE Warrants		—		767		—		767
Total financial liabilities measured at fair value	$	587	$	795	$	—	$	1,382

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	32,310	$	—	$	—	$	32,310
Commercial paper		—		49,136		—		49,136
Corporate bonds		—		19,480		—		19,480
Government bonds		—		18,082		—		18,082
Foreign bonds		—		3,717		—		3,717
Total financial assets measured at fair value	$	32,310	$	90,415	$	—	$	122,725
Liabilities(2):
Public Warrants	$	3,527	$	—	$	—	$	3,527
Private Placement Warrants		—		166		—		166
PIPE Warrants		—		4,608		—		4,608
Total financial liabilities measured at fair value	$	3,527	$	4,774	$	—	$	8,301

(1)Money market funds are included in cash and cash equivalents on the unaudited condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021.

(2)See the definition and discussion of Public Warrants, Private Placement Warrants and PIPE Warrants in Note 9.

Schedule of Marketable Securities by Security Type

The following tables provide the Company’s marketable securities by security type (in thousands):

	June 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	35,185	$	—	$	—		$	35,185
Corporate bonds		19,335		—		(83	)		19,252
Government bonds		18,093		—		(374	)		17,719
Foreign bonds		3,686		—		(19	)		3,667
Total short-term marketable securities	$	76,299	$	—	$	(476	)	$	75,823

	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	49,136	$	—	$	—		$	49,136
Corporate bonds		15,920		4		(17	)		15,907
Foreign bonds		3,725		—		(8	)		3,717
Total short-term marketable securities	$	68,781	$	4	$	(25	)	$	68,760
Government bonds	$	18,165	$	—	$	(83	)	$	18,082
Corporate bonds		3,588		—		(15	)		3,573
Total long-term marketable securities	$	21,753	$	—	$	(98	)	$	21,655

Schedule Of Unrealized Loss On Investments

The following table indicates the length of the time that individual securities have been in a continuous unrealized loss position as of June 30, 2022 (dollars in thousands):

			Less Than 12 Months
	Number of Investments		Fair Value		Unrealized Losses
Corporate bonds		6	$	15,752	$	83
Government bonds		3		17,720		374
Foreign bonds		2		3,667		19
Total		11	$	37,139	$	476