Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements for Items

The following tables present a summary of fair value measurements for financial instruments at December 31, 2022 and 2021, respectively:

December 31, 2022	Level 1		Level 2		Level 3		Total fair value
	(in thousands)
U.S. government and government agencies	$	—	$	228,467	$	—	$	228,467
Corporate debt securities	—		98,399		—		98,399
Warrants receivable	—		—		900		900
Total assets at fair value	$	—	$	326,866	$	900	$	327,766

December 31, 2021	Level 1		Level 2		Level 3		Total fair value
	(in thousands)
U.S. government and government agencies	$	—	$	196,735	$	—	$	196,735
Total assets at fair value	$	—	$	196,735	$	—	$	196,735

Schedule of Changes in Balances of Level 3 Financial Liabilities

The changes in balances of Legacy Clover's Level 3 financial assets and liabilities during the years ended December 31, 2022 and 2021, were as follows:

	Warrants receivable		Total
	(in thousands)
Balance, December 31, 2021	$	—	$	—
Receipts	900		900
Settlements	—		—
Transfers in	—		—
Transfers out	—		—
Total realized losses (gains)	—		—
Balance, December 31, 2022	$	900	$	900

	Convertible securities		Derivative liabilities		Warrants payable		Total
	(in thousands)
Balance, December 31, 2020	$	949,553	$	44,810	$	97,782	$	1,092,145
Issuances	—		—		—		—
Settlements	(949,553)		(44,810)		(97,782)		(1,092,145)
Transfers in	—		—		—		—
Transfers out	—		—		—		—
Total realized losses (gains)	—		—		—		—
Balance, December 31, 2021	$	—	$	—	$	—	$	—

Schedule of Changes in Fair Value of Warrants Payable

The following table presents the changes in the fair value of warrants payable:

December 31, 2021	Public and Private Placement Warrants
	(in thousands)
Initial measurement, January 7, 2021	$	147,582
Mark-to-market adjustment	(66,214)
Warrants payable balance, Warrants exercised	(81,283)
Warrants payable balance, Warrant redemption	(85)
Warrants payable balance, December 31, 2021	$	—