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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of company's financial assets and liabilities that are measured at fair value on a recurring basis
The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are summarized below:
March 31, 2023
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$25,017 $— $— $25,017 
Total$25,017 $— $— $25,017 
Liabilities:
Derivative liability$— $— $1,185 $1,185 
Other non-current liabilities:
Public Warrants978 — — 978 
Private Warrants— 10 — 10 
Total$978 $10 $1,185 $2,173 
December 31, 2022
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$1,154 $— $— $1,154 
Total$1,154 $— $— $1,154 
Liabilities:
Derivative liability$— $— $180 $180 
Other non-current liabilities:
Public Warrants384384
Private Warrants1111
Total$384 $11 $180 $575 
Schedule of quantitative information regarding the significant unobservable inputs used by the Company related to the derivative liability
The following table provides quantitative information regarding the significant unobservable inputs used by the Company related to the derivative liability:
March 31, 2023December 31, 2022
Term (in years)3.73.9
Risk-free rate3.74 %4.11 %
Volatility94.1 %76.6 %
Schedule of activity of the Level 3 instruments
The following table represents the activity of the Level 3 instruments:
Derivative Liability
Balance as of December 31, 2022$180 
Change in fair value of derivative liability1,005 
Balance as of March 31, 2023$1,185