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Fair Value Measurement (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables summarize the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):
|  | As of September 30, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 28,622 |  |  | $ | — |  |  | $ | — |  |  | $ | 28,622 |
Commercial paper (2) |  |  | — |  |  |  | 2,991 |  |  |  | — |  |  |  | 2,991 |
Government bonds |  |  | — |  |  |  | 7,964 |  |  |  | — |  |  |  | 7,964 |
Total financial assets measured at fair value |  | $ | 28,622 |  |  | $ | 10,955 |  |  | $ | — |  |  | $ | 39,577 |
Liabilities(3): |  |  |  |  |  |  |  |  |  |  |  |
Public Warrants |  | $ | 112 |  |  | $ | — |  |  | $ | — |  |  | $ | 112 |
PIPE Warrants |  |  | — |  |  |  | 131 |  |  |  | — |  |  |  | 131 |
Total financial liabilities measured at fair value |  | $ | 112 |  |  | $ | 131 |  |  | $ | — |  |  | $ | 243 |
|  | As of December 31, 2022 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 9,194 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,194 |
Commercial paper |  |  | — |  |  |  | 22,549 |  |  |  | — |  |  |  | 22,549 |
Corporate bonds |  |  | — |  |  |  | 10,797 |  |  |  | — |  |  |  | 10,797 |
Government bonds |  |  | — |  |  |  | 17,802 |  |  |  | — |  |  |  | 17,802 |
Government agency debt securities(1) |  |  | — |  |  |  | 3,982 |  |  |  | — |  |  |  | 3,982 |
Total financial assets measured at fair value |  | $ | 9,194 |  |  | $ | 55,130 |  |  | $ | — |  |  | $ | 64,324 |
Liabilities(3): |  |  |  |  |  |  |  |  |  |  |  |
Public Warrants |  | $ | 151 |  |  | $ | — |  |  | $ | — |  |  | $ | 151 |
PIPE Warrants |  |  | — |  |  |  | 175 |  |  |  | — |  |  |  | 175 |
Total financial liabilities measured at fair value |  | $ | 151 |  |  | $ | 175 |  |  | $ | — |  |  | $ | 326 |
(1) I ncluded in cash and cash equivalents on the condensed consolidated balance sheet. (2) C onsists of $1.5 million in cash and cash equivalents and $1.5 million in short-term marketable securities. (3) See Note 10.
Schedule of Marketable Securities by Security Type | The following tables provide the Company’s marketable securities by security type (in thousands):
|  | As of September 30, 2023 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 1,493 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,493 |
Government bonds |  |  | 7,963 |  |  |  | 1 |  |  |  | — |  |  |  | 7,964 |
Total short-term marketable securities |  | $ | 9,456 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 9,457 |
|  | As of December 31, 2022 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 22,549 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,549 |
Corporate bonds |  |  | 10,817 |  |  |  | 1 |  |  |  | (21 | ) |  |  | 10,797 |
Government bonds |  |  | 18,023 |  |  |  | — |  |  |  | (221 | ) |  |  | 17,802 |
Total short-term marketable securities |  | $ | 51,389 |  |  | $ | 1 |  |  | $ | (242 | ) |  | $ | 51,148 |
Schedule Of Unrealized Loss On Investments | The following table indicates the length of the time that individual securities have been in a continuous unrealized loss position (dollars in thousands):
|  | As of December 31, 2022 |
|  |  |  |  | Less Than 12 Months |
|  | Number of Investments |  |  | Fair Value |  |  | Unrealized Losses |
Corporate bonds |  |  | 4 |  |  | $ | 9,719 |  |  | $ | 21 |
Government bonds |  |  | 3 |  |  |  | 17,802 |  |  |  | 221 |
Total |  |  | 7 |  |  | $ | 27,521 |  |  | $ | 242 |

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- Definition 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-6 + Details
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