| Summary of Fair Value Hierarchy of The Valuation |
The following table presents information about the Company’s assets and liabilities that are measured at fair value as of March 31, 2023 and December 31, 2022 and indicates the fair value hierarchy of the valuation:
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Fair Value Measurements |
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March 31, 2023 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Assets: |
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Cash equivalents: |
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Money market funds included in cash and cash equivalents |
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$ |
82,704 |
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— |
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— |
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$ |
82,704 |
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Total cash and cash equivalents |
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$ |
82,704 |
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$ |
— |
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$ |
— |
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$ |
82,704 |
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Commercial paper |
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— |
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27,447 |
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— |
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27,447 |
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Government bonds |
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— |
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20,457 |
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— |
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20,457 |
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Corporate bonds |
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— |
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4,955 |
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— |
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4,955 |
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Asset-backed securities |
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— |
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2,952 |
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— |
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2,952 |
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U.S. Treasury bills |
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4,945 |
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— |
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— |
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4,945 |
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Total assets |
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$ |
87,649 |
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$ |
55,811 |
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$ |
— |
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$ |
143,460 |
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Liabilities: |
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Contingent earnout liability |
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$ |
— |
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$ |
— |
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$ |
1,607 |
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$ |
1,607 |
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Private placement warrant liability |
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— |
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— |
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472 |
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|
472 |
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Teton acquisition contingent earnout liability |
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— |
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— |
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602 |
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602 |
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Total liabilities |
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$ |
— |
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$ |
— |
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$ |
2,681 |
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$ |
2,681 |
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December 31, 2022 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Assets: |
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Cash equivalents: |
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Money market funds included in cash and cash equivalents |
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$ |
119,721 |
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— |
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— |
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$ |
119,721 |
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Short-term investments included in cash and cash equivalents |
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— |
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3,077 |
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— |
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3,077 |
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Total cash and cash equivalents |
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$ |
119,721 |
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$ |
3,077 |
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$ |
— |
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$ |
122,798 |
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Government bonds |
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— |
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21,770 |
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— |
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21,770 |
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Commercial paper |
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— |
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12,569 |
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— |
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12,569 |
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Corporate bonds |
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— |
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3,927 |
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— |
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3,927 |
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Asset-backed securities |
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— |
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2,920 |
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— |
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2,920 |
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U.S. Treasury bills |
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2,450 |
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— |
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— |
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2,450 |
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Total assets |
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$ |
122,171 |
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$ |
44,263 |
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$ |
— |
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$ |
166,434 |
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Liabilities: |
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Contingent earnout liability |
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$ |
— |
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$ |
— |
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$ |
2,415 |
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$ |
2,415 |
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Private placement warrant liability |
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— |
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— |
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|
661 |
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661 |
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Teton acquisition contingent earnout liability |
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— |
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— |
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|
602 |
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|
602 |
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Total liabilities |
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$ |
— |
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$ |
— |
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$ |
3,678 |
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$ |
3,678 |
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