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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

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

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the dates indicated:

			September 30, 2021
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	42,800					$	—					$	—					$	42,800
Total assets			42,800						—						—						42,800
Liabilities:
Derivative liabilities, current			—						—						547						547
Derivative liabilities, noncurrent			—						—						2,205						2,205
Derivative warrant liabilities - Public Warrants			23,402						—						—						23,402
Derivative warrant liabilities - Private Placement Warrants			—						—						11,667						11,667
Total liabilities			$	23,402					$	—					$	14,419					$	37,821

			December 31, 2020
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	25,016					$	—					$	—					$	25,016
Total assets			25,016						—						—						25,016
Liabilities:
Derivative liabilities, noncurrent			—						—						4,343						4,343
Class B Units - related party			—						—						593,235						593,235
Total liabilities			$	—					$	—					$	597,578					$	597,578

Schedule of Fair Value Measurements Inputs

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

			As of
			September 30, 2021
Stock price			$	8.26
Exercise Price			$	11.50
Expected life of the warrants to convert (years)			4.81
Volatility			27.80		%
Risk-free rate			0.93		%

Schedule of Changes in Fair Value of Liabilities

The following table summarizes the change in fair value of the derivative liabilities during the nine months ended September 30, 2021 and 2020:

Balance at January 1, 2021			$	597,578
Incremental Class B Units			206,914
Establishment of derivative warrant liabilities on July 21, 2021 (date of the Transactions)			45,021
Change in fair value of derivative instruments			(11,543)
Change in fair value of Class B Units			728,079
Reclassification of Class B Units from liability to equity on July 21, 2021 (date of the Transactions)			$	(1,528,228)
Balance at September 30, 2021			$	37,821
Balance at January 1, 2020			$	119,307
Incremental Class B Units			13,398
Change in fair value of derivative instruments			1,874
Change in fair value of Class B Units			113,866
Balance at September 30, 2020			$	248,445

Schedule of Changes in Fair Value by Income Statement Location

The following table summarizes the change in fair value of the Class B Units by income statement line item during the three and nine months ended September 30, 2021 and 2020:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Cost of revenue			$	24,028					$	12,167					$	136,417					$	22,052
Sales and marketing			2,607						943						10,870						1,965
General and administrative			102,911						50,960						580,792						89,849
Total change in fair value of Class B Units			$	129,546					$	64,070					$	728,079					$	113,866

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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

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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&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=117815213&loc=d3e19207-110258

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