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Fair Value Measures and Disclosures (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

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

The Company’s assets and liabilities that were measured at fair value on a recurring basis were as follows:

			Fair Value Measured as of June 30, 2023
			Level 1						Level 2						Level 3						Total
			(In thousands)
Assets
Money market funds (i)			$	25,744					$	—					$	—					$	25,744
U.S. Treasury securities (ii)			10,358						—						—						10,358
Corporate bonds (ii)			—						8,117						—						8,117
Total financial assets			$	36,102					$	8,117					$	—					$	44,219
Liabilities
Common stock warrant liabilities (Public) (iii)			$	2,842					$	—					$	—					$	2,842
Common stock warrant liabilities (Private Placement) (iii)			—						—						1,488						1,488
Common stock warrant liabilities (2022 Private Warrant) (iii)			—						—						140						140
Contingent earnout liabilities			—						—						25,224						25,224
Total financial liabilities			$	2,842					$	—					$	26,852					$	29,694
			Fair Value Measured as of December 31, 2022
			Level 1						Level 2						Level 3						Total
			(In thousands)
Assets
Money market funds (i)			$	31,728					$	—					$	—					$	31,728
U.S. Treasury securities (ii)			24,701						—						—						24,701
Corporate bonds (ii)			—						23,513						—						23,513
Total financial assets			$	56,429					$	23,513					$	—					$	79,942
Liabilities
Common stock warrant liabilities (Public) (iii)			$	1,748					$	—					$	—					$	1,748
Common stock warrant liabilities (Private Placement) (iii)			—						—						888						888
Common stock warrant liabilities (2022 Private Warrant) (iii)			—						—						109						109
Contingent earnout liabilities			—						—						17,414						17,414
Total financial liabilities			$	1,748					$	—					$	18,411					$	20,159

(i)     Included in cash and cash equivalents on the condensed consolidated balance sheets.

(ii)     Included in short-term investments on the condensed consolidated balance sheets.

(iii)    Included in warrant liabilities on the condensed consolidated balance sheets.

Summary of Changes in Fair Value of Level 3 Financial Instruments

The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments:

			December 31, 2022						Change in fair value						March 31, 2023						Change in fair value						June 30, 2023
			(In thousands)
Private placement warrant liabilities			$	888					$	869					$	1,757					$	(269)					$	1,488
2022 Private Warrant			109						37						146						(6)						140
Contingent earnout liabilities			17,414						9,653						27,067						(1,843)						25,224
			$	18,411					$	10,559					$	28,970					$	(2,118)					$	26,852

			December 31, 2021						Change in fair value						March 31, 2022						Change in fair value						June 30, 2022
			(In thousands)
Private placement warrant liabilities			$	7,387					$	2,047					$	9,434					$	(8,054)					$	1,380
Contingent earnout liabilities			111,487						31,232						142,719						(130,226)						12,493
			$	118,874					$	33,279					$	152,153					$	(138,280)					$	13,873

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- References

No definition available.

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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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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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
-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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-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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