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Fair Value Measurement (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Summary Of Assets And Liabilities Measured At Fair Value | The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows:
| Fair Value as of September 30, 2021 |  |
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash | $ | 459,778 |  |  | $ | — |  |  | $ | — |  |  | $ | 459,778 |
Total fair value | $ | 459,778 |  |  | $ | — |  |  | $— |  | $ | 459,778 |
Liabilities: |  |  |  |  |  |  |
Assumed common stock warrants (Public) | $ | 37,916 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,916 |
Assumed common stock warrants (Private Placement) | $ | — |  |  | $ | 17,783 |  |  | $ | — |  |  | $ | 17,783 |
Earnout liability | $ | — |  |  | $ | — |  |  | $ | 136,199 |  |  | $ | 136,199 |
Total fair value | $ | 37,916 |  |  | $ | 17,783 |  |  | $ | 136,199 |  |  | $ | 191,898 |
| Fair Value as of December 31, 2020 |  |
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash | $ | 1,874 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,874 |
Total fair value | $ | 1,874 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,874 |
Liabilities: |  |  |  |  |  |  |
Redeemable convertible preferred stock warrants liability | $ | — |  |  | $ | — |  |  | $ | 19,233 |  |  | $ | 19,233 |
Derivative liability | — |  |  | — |  |  | 1,239 |  |  | 1,239 |
| $ | — |  |  | $ | — |  |  | $ | 20,472 |  |  | $ | 20,472 |
Summary of Key Assumptions for Determining Fair Value of Redeemable Convertible Preferred Stock Warrants | A summary of key assumptions in the BSM for determining the fair value of redeemable convertible preferred stock warrants include:
| December 31, 2020
Expected life (years) | 3.00
Risk-free interest rate | 0.17 | %
Expected volatility | 70.00 | %
Dividend yield | 0 | %
Summary of Fair Value of Redeemable Convertible Preferred Stock Warrants Liability and Derivative Liability | The following table sets forth a summary of the activities of the Company’s redeemable convertible preferred stock warrant liability and derivative liability, which represents a recurring measurement that is classified within Level 3 of the fair value hierarchy wherein fair value is estimated using significant unobservable inputs:
| Three Months Ended September 30,
(in thousands) | 2021 |  | 2020
Beginning warrant liability balance | $ | — |  |  | $ | 840 |
Change in fair value of warrants liability | — |  |  | 1,024 |
Reclassification to APIC upon recapitalization | — |  |  | — |
Ending warrant liability balance | $ | — |  |  | $ | 1,864 |
| Three Months Ended September 30,
(in thousands) | 2021 |  | 2020
Beginning derivative liability balance | $ | — |  |  | $ | 135 |
Change in fair value | — |  |  | 67 |
Ending derivative liability balance | $ | — |  |  | $ | 202 |

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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 http://asc.fasb.org/extlink&oid=123874694&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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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