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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

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:

			March 31, 2022
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	28,001					$	—					$	—					$	28,001
Total assets			28,001						—						—						28,001
Liabilities:
Derivative liabilities, noncurrent			—						—						1,601						1,601
Warrant liabilities - Public Warrants			15,111						—						—						15,111
Warrant liabilities - Private Placement Warrants			—						—						7,504						7,504
Total liabilities			$	15,111					$	—					$	9,105					$	24,216

			December 31, 2021
			Level 1						Level 2						Level 3						Aggregate Fair Value
Assets:
Money market funds			$	25,001					$	—					$	—					$	25,001
Total assets			25,001						—						—						25,001
Liabilities:
Derivative liabilities, noncurrent			—						—						2,015						2,015
Warrant Liabilities - Public Warrants			19,599						—						—						19,599
Warrant Liabilities - Private Placement Warrants			—						—						9,733						9,733
Total liabilities			$	19,599					$	—					$	11,748					$	31,347

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
			March 31, 2022
Stock price			$	4.72
Exercise Price			$	11.50
Expected life of the warrants to convert (years)			4.31
Volatility			48.30		%
Risk-free rate			2.40		%

Schedule of Changes in Fair Value of Liabilities

The following table summarizes the change in fair value of the derivative liabilities during the three months ended March 31, 2022 and 2021:

Balance at January 1, 2022			$	31,347
Change in fair value of derivative instruments			(7,131)
Balance at March 31, 2022			$	24,216
Balance at January 1, 2021			$	597,578
Incremental Class B Units			43,880
Change in fair value of derivative instruments			394
Change in fair value of Class B Units			551,544
Balance at March 31, 2021			$	1,193,396

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 months ended March 31, 2022 and 2021:

			Three Months Ended March 31,
			2022						2021
Cost of revenue			$	—					$	101,943
Sales and marketing			—						7,423
General and administrative			—						442,178
Total change in fair value of Class B Units			$	—					$	551,544

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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=123874694&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123874694&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=123874694&loc=d3e19207-110258

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-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

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