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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Held-to-maturity debt securities at amortized cost in the financial statements.

These securities are classified as held-to-maturity and all have been purchased with original maturities of 90 days or less. Held-to-maturity debt securities are recorded at amortized cost in the financial statements.

		September 30, 2022
		Amortized Cost				Unrealized Gains				Unrealized Losses				Aggregate Fair Value
U.S. treasury securities		$	174,435			$	16			$	(18	)		$	174,433

Fair Value, Inputs, Level 3

Summary of Changes in Level 3 Fair Value Instruments

A summary of the changes in the fair value of the Company’s Level 3 financial instruments for the three and nine months ended September 30, 2021, is as follows (in thousands):

		Redeemable convertible preferred stock warrants liabilities
Balance – December 31, 2020		$	2,112
Change in fair value			(555	)
Balance – March 31, 2021			1,557
Change in fair value			5,427
Balance – June 30, 2021			6,984
Change in fair value			1,989
Conversion of preferred stock warrants to common stock warrants upon the closing of the IPO			(8,973	)
Balance – September 30, 2021		$	—

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

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-Publisher FASB
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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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