XML 69 R24.htm IDEA: XBRL DOCUMENT v3.22.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Summary of Assets Measured at Fair Value

The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2022 and 2021 (in thousands):

 

 

 

December 31, 2022

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds(1)

 

$

87,971

 

 

$

87,971

 

 

$

 

 

$

 

Total assets measured at fair value

 

$

87,971

 

 

$

87,971

 

 

$

 

 

$

 

 

 

 

December 31, 2021

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds(1)

 

$

101,561

 

 

$

101,561

 

 

$

 

 

$

 

Total assets measured at fair value

 

$

101,561

 

 

$

101,561

 

 

$

 

 

$

 

 

(1) Money market funds with maturities of 90 days or less at the date of purchase are included within cash and cash equivalents in the accompanying consolidated balance sheets and are recognized at fair value.

Roll-forward of Fair Value of Convertible Note and Preference Shares Tranche Obligations for Which Fair Value Determined by Level 3 Inputs

The following table presents a roll-forward of the fair value of the convertible note and preference shares tranche obligations for which fair value is determined by Level 3 inputs (in thousands):

 

 

Preference Shares Tranche Obligations

 

 

Balance, December 31, 2020

 

 

 

Addition on issuance of Class C preference shares

 

2,425

 

 

Fair value adjustments

 

26,830

 

 

Currency exchange

 

(979

)

 

Settlement of preference shares tranche obligation through issuance of preference shares

 

(28,276

)

 

Balance, December 31, 2021

$