Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of assets and liabilities measured at fair value on a recurring basis

The following table summarizes the Company’s assets and liabilities that require fair value measurements on a recurring basis and their respective input levels based on the fair value hierarchy as of June 30, 2022 and December 31, 2021 (in thousands):

			Fair Value Measurements Using
	June 30,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	2022		Level 1		Level 2		Level 3
Assets
Cash equivalents:
Money market funds	$	16,353	$	16,353	$	—	$	—
Short-term investments:
U.S. Treasury securities		24,685		—		24,685		—
Total assets	$	41,038	$	16,353	$	24,685	$	—
Liabilities
Private placement warrant liability	$	80	$	—	$	—	$	80
Earn-out liability		89		—		—		89
Total liabilities	$	169	$	—	$	—	$	169

			Fair Value Measurements Using
	December 31,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	2021		Level 1		Level 2		Level 3
Assets
Money market funds	$	49,702	$	49,702	$	—	$	—
Total assets	$	49,702	$	49,702	$	—	$	—
Liabilities
Private placement warrant liability	$	678	$	—	$	—	$	678
Earn-out liability		12,130		—		—		12,130
Total liabilities	$	12,808	$	—	$	—	$	12,808

Summary of Short term Investment

The following tables summarize the Company’s short-term investments accounted for as available-for-sale securities as of June 30, 2022 (in thousands):

				June 30, 2022
	Maturity	Amortized		Unrealized		Unrealized			Estimated
	(in years)	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	1 year or less	$	24,767	$	—	$	(82	)	$	24,685
		$	24,767	$	—	$	(82	)	$	24,685

Preferred Stock Warrant Liability [Member]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of change in fair value of derivative warrant liabilities

The following table presents activity for the preferred stock warrant liability measured at fair value using significant unobservable Level 3 inputs during the six months ended June 30, 2021 (in thousands):

	Series C Preferred Stock Warrant Liability
Balance at December 31, 2020	$	433
Issuance of new warrants		271
Change in fair value		76
Balance at June 30, 2021	$	780

Private Placement Warrants Liability [Member]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of fair value measurements inputs

The following key assumptions were used in determining the fair value of the private placement warrant liability valued using the Black-Scholes option pricing model as of June 30, 2022 and December 31, 2021:

	June 30, 2022			December 31, 2021
Common stock price	$	1.42		$	8.28
Expected volatility		95.0	%		65.0	%
Risk-free interest rate		3.0	%		1.3	%
Expected term (in years)		4.2			4.7
Expected dividend yield		—			—

Summary of change in fair value of derivative warrant liabilities

The following table presents activity for the private placement warrant liability measured at fair value using significant unobservable Level 3 inputs during the six months ended June 30, 2022 (in thousands):

	Private Placement Warrant Liability
Private Placement Warrants liability - August 25, 2021 (closing date)	$	1,862
Change in fair value - Closing Date through December 31, 2021		(1,184	)
Balance at December 31, 2021		678
Change in fair value		(598	)
Balance at June 30, 2022	$	80