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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):

			December 31, 2022
			Total Assets at Fair Value						Cash Equivalents and Restricted Cash						Short-Term Investments
Level 1:
Money market funds			$	27,993					$	27,993					$	—
U.S. Treasury securities			19,944						—						19,944
Total Level 1			47,937						27,993						19,944
Level 2:
Certificate of deposit			75						75						—
U.S. agency securities			55,319						—						55,319
Commercial paper			35,756						5,972						29,784
Total Level 2			91,150						6,047						85,103
Total assets measured at fair value			$	139,087					$	34,040					$	105,047

			December 31, 2021
			Total Assets at Fair Value						Cash Equivalents and Restricted Cash						Short-Term Investments
Level 1:
Money market funds			$	237,897					$	237,897					$	—
Level 2:
Certificate of deposit			125						125						—
Total assets measured at fair value			$	238,022					$	238,022					$	—

The following tables present the Company’s fair value hierarchy for its financial liabilities measured at fair value on a recurring basis (in thousands):

			December 31, 2022
			Level 1						Level 2						Level 3						Total
Liabilities:
Earnout warrant liabilities			$	—					$	163					$	—					$	163
Public common stock warrants			2,066						—						—						2,066
Private common stock warrants			—						980						—						980
Total liabilities measured at fair value			$	2,066					$	1,143					$	—					$	3,209

			December 31, 2021
			Level 1						Level 2						Level 3						Total
Liabilities:
Earnout warrant liabilities			$	—					$	1,476					$	—					$	1,476
Public common stock warrants			18,666						—						—						18,666
Private common stock warrants			—						8,855						—						8,855
Total liabilities measured at fair value			$	18,666					$	10,331					$	—					$	28,997

Schedule of Changes in Fair Value Liabilities on Recurring Basis

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 liabilities at fair value on a recurring basis for the years ended December 31, 2022 and 2021 (in thousands):

			2022						2021
Bridge loan:
Beginning balance January 1			$	—					$	—
Fair value of Bridge loan funded			—						20,000
Accrued interest			—						1,578
Change in fair value			—						—
Repayment of loan principal and interest			—						(21,578)
Ending balance December 31			—						—
Legacy ESS Warrant liabilities:
Beginning balance January 1			—						3,329
Change in fair value			—						17,753
Fair value of warrants issued			—						5,096
Fair value of warrants exercised			—						(26,178)
Ending balance December 31			—						—
Series C-2 Redeemable Convertible Preferred Stock Issuance Right liability:
Beginning balance January 1			—						22,911
Change in fair value			—						223,165
Fair value of derivatives extinguished			—						(23,152)
Fair value of Series C-2 Redeemable Convertible Preferred Stock Issuance Right exercised			—						(222,924)
Ending balance December 31			—						—
Total			$	—					$	—

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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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