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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities, Measured at Fair Value

The following table summarizes the Company’s financial assets (cash equivalents, marketable securities and liabilities) at fair value as of September 30, 2022 (in thousands):

			Fair Value as of September 30, 2022						Basis for Fair Value Measurements
									(Level 1)						(Level 2)						(Level 3)
Assets:
Money market funds, included in cash and cash equivalents			$	5,676					$	5,676					$	—					$	—
Fixed income mutual funds, included in short-term investments			79,724						79,724						—						—
Total			$	85,400					$	85,400					$	—					$	—

The following table summarizes the Company’s financial assets (cash equivalents, marketable securities and liabilities) at fair value as of December 31, 2021 (in thousands):

			Fair Value as of December 31, 2021						Basis for Fair Value Measurements
									(Level 1)						(Level 2)						(Level 3)
Assets:
Money market funds, included in cash and cash equivalents			$	16,498					$	16,498					$	—					$	—
Fixed income mutual funds, included in short-term investments			96,397						96,397						—						—
Total			$	112,895					$	112,895					$	—					$	—

Schedule of Debt Securities, Available-for-sale

The following is a summary of the Company’s available-for-sale debt securities (in thousands):

			September 30,						December 31,
			2022						2021
Cost basis			$	81,058					$	96,702
Unrealized loss			(1,334)						(305)
Fair value			$	79,724					$	96,397

Schedule of Fair Value Liabilities Measured at Level 3

The change in fair value of the redeemable convertible preferred stock warrant liability is summarized below (in thousands):

			Redeemable Convertible Preferred Stock Warrant Liability
Fair value as of January 1, 2021			$	369
Change in fair value included in other income (expense), net			5,236
Net exercise of redeemable convertible preferred stock warrants			(5,605)
Fair value as of September 30, 2021			$	—

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

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-Publisher FASB
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Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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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.

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