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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The following tables summarize the fair value of assets and liabilities that are recorded in the Company’s condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023 at fair value on a recurring basis.

			March 31, 2024
			Frequency of Measurement						Total						Level 1						Level 2						Level 3
Liabilities
Earn-out liabilities			Recurring						$	36,629					$	—					$	—					$	36,629
Warrant liabilities - Series A			Recurring						21,792						—						—						21,792
Warrant liabilities - Series B			Recurring						16,520						—						—						16,520
Warrant liabilities									38,312						—						—						38,312
Total liabilities measured at fair value									$	74,941					$	—					$	—					$	74,941

			December 31, 2023
			Frequency of Measurement						Total						Level 1						Level 2						Level 3
Liabilities
Earn-out liabilities			Recurring						$	14,032					$	—					$	—					$	14,032
Warrant liabilities - Series A			Recurring						8,612						—						—						8,612
Warrant liabilities - Series B			Recurring						2,682						—						—						2,682
Warrant liabilities									11,294						—						—						11,294
Total liabilities measured at fair value									$	25,326					$	—					$	—					$	25,326

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a roll-forward of the Company’s Level 3 liabilities (in thousands):

			Earn-out liabilities						Warrant liabilities - Series A						Warrant liabilities - Series B						Total Warrant liabilities
Balance, December 31, 2023			$	14,032					$	8,612					$	2,682					$	11,294
Additions			—						20,827						11,262						32,089
Change in fair value			22,597						12,823						11,141						23,964
Converted to equity			—						(20,471)						(8,564)						(29,035)
Balance, March 31, 2024			$	36,629					21,791						16,521						38,312

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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X

- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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