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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis:

						Fair Value Measurements as of December 31, 2022
						Level 1						Level 2						Level 3						Total
Assets:
Available-for-Sale Investments
Asset-backed securities						$	—					$	58,192					$	—					$	58,192
Certificates of deposits						—						—						—						—
Corporate notes and bonds						—						110,298						—						110,298
Commercial paper						—						10,479						—						10,479
Foreign government securities						—						5,027						—						5,027
US government and agency securities						86,898						—						—						86,898
Total assets						$	86,898					$	183,996					$	—					$	270,894
Liabilities:
Common Stock Warrants
Private Common Stock Warrants						$	—					$	—					$	289					$	289
Total liabilities						$	—					$	—					$	289					$	289

						Fair Value Measurements as of December 31, 2021
						Level 1						Level 2						Level 3						Total
Assets:
Available-for-Sale Investments
Asset-backed securities						$	—					$	111,552					$	—					$	111,552
Certificates of deposits						—						6,002						—						6,002
Corporate notes and bonds						—						206,989						—						206,989
Commercial paper						—						109,391						—						109,391
Foreign government securities						—						8,181						—						8,181
US government securities						86,787						—						—						86,787
Total assets						$	86,787					$	442,115					$	—					$	528,902
Liabilities:
Common Stock Warrants
Private Common Stock Warrants						$	—					$	—					$	6,293					$	6,293
Total liabilities						$	—					$	—					$	6,293					$	6,293

Reconciliation of Level 3 Liabilities

The following sets forth the activity for Private Warrants:

						Private Warrants
Balance at December 31, 2021						$	6,293
Fair market value adjustment						(6,004)
Balance as of December 31, 2022						$	289

Summary of Level 3 Inputs and Valuation Techniques

The table below reflects the fair value measurement of the Company’s Level 3 inputs as of September 10, 2020, the date on which the Redeemable Convertible Series E preferred forward contract liability was settled, prior to giving effect to the FEAC Business Combination:

Fair Value as of September 10, 2020

Valuation Technique

Unobservable Input Description

Input

Redeemable Convertible Series E preferred stock forward contract liability

$

21,688

Discounted cash flow

Fair value of Redeemable Convertible Series E preferred stock

$

9.17

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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