Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.22.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Investments Classified by Contractual Maturity Date
The contractual maturities of investments classified as marketable securities are as follows as of December 31, 2021 and December 31, 2020:
December 31,
2021
December 31,
2020
Due within 1 year $ 288,036  $ 37,813 
Total marketable securities
$ 288,036  $ 37,813 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value as of December 31, 2021
Level 1 Level 2 Level 3 Total
Commercial paper $ —  $ 128,867  $ —  $ 128,867 
U.S. Treasuries 82,472  —  —  82,472 
Corporate bonds —  114,965  —  114,965 
Total assets in the fair value hierarchy 82,472  243,832  —  326,304 
Money market funds measured at NAV(a)
—  —  —  8,924 
Total investments at fair value
$ 82,472  $ 243,832  $   $ 335,228 
Contingent consideration —  —  100  100 
Total liabilities at fair value
$   $     $ 100  $ 100 
Fair Value as of December 31, 2020
Level 1 Level 2 Level 3 Total
Commercial paper $ —  $ 11,932  $ —  $ 11,932 
U.S. Treasuries 5,380  —  —  5,380 
Corporate bonds —  20,444  —  20,444 
Total assets in the fair value hierarchy 5,380  32,376  —  37,756 
Money market funds measured at NAV(a)
—  —  —  57 
Total investments at fair value
$ 5,380  $ 32,376  $   $ 37,813 
Warrant liabilities $ —  $ —  $ (17,740) $ (17,740)
Total warrant liabilities at fair value
$   $   $ (17,740) $ (17,740)
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(a)Certain money market funds that were measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the consolidated balance sheets.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table provides a summary of changes in fair value of the Company’s Level 3 warrant liabilities for the years ended December 31, 2021 and 2020:
2021 2020
Balance as of January 1 $ (17,740) $ (16,853)
Warrants issued (289) — 
Fair value adjustments (12,796) (887)
Issuance of equity upon exercise of certain warrants 30,206  — 
Issuance of equity upon settlement of certain warrants 619  — 
Balance as of December 31 $   $ (17,740)
Schedule of Business Acquisitions by Acquisition, Contingent Consideration
The following table provides a summary of changes in fair value of the Company’s Level 3 contingent consideration liability for the years ended December 31, 2021 and 2020:
2021 2020
Balance as of January 1 $ —  $ — 
Initial recognition of contingent consideration included in
purchase consideration of acquisition
100  — 
Balance as of December 31 $ 100  $