Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Detail (Tables)

v3.22.1
Balance Sheet Detail (Tables)
 3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021:
As of March 31, 2022
Level 1 Level 2 Level 3 Total
Cash equivalents:
Money market funds
 $ 371,177  $ —  $ —  $ 371,177 
U.S. government securities —  132,933  —  132,933 
Total cash equivalents
 $ 371,177  $ 132,933  $ —  $ 504,110 
Short-term investments:
U.S. government securities $ —  $ 964,416  $ —  $ 964,416 
Total short-term investments $ —  $ 964,416  $ —  $ 964,416 
Liabilities:
Public warrants $ 18,083  $ —  $ —  $ 18,083 
Private placement warrants —  13,172  —  13,172 
Earnout shares liability —  —  20,993  20,993 
Total liabilities $ 18,083  $ 13,172  $ 20,993  $ 52,248 
As of December 31, 2021
Level 1 Level 2 Level 3 Total
Cash equivalents:
Money market funds
 $ 1,609,919  $ —  $ —  $ 1,609,919 
Total cash equivalents
 $ 1,609,919  $ —  $ —  $ 1,609,919 
Liabilities:
Public warrants
 $ 37,999  $ —  $ —  $ 37,999 
Private placement warrants
 —  27,679  —  27,679 
Earnout shares liability —  —  52,380  52,380 
Total liabilities $ 37,999  $ 27,679  $ 52,380  $ 118,058 
Schedule of Derivative Liabilities at Fair Value
Earnout shares liability
Balance as of December 31, 2021
 $ 52,380 
Fair value adjustment
 (31,387)
Balance as of March 31, 2022
 $ 20,993 
Schedule of Short-term Investments, Amortized Costs and Fair Value
The amortized cost, unrealized gains and estimated fair values of the Company’s short-term investments as of March 31, 2022 was:
As of March 31, 2022
Amortized cost Unrealized losses Fair value
U.S. government securities $ 966,091  $ (1,675) $ 964,416 
Total short-term investments $ 966,091  $ (1,675) $ 964,416 
Property, Plant and Equipment
Property and equipment, net consist of the following as of March 31, 2022 and December 31, 2021:
As of
March 31,
2022		 December 31,
2021
Land
 $ 13,503  $ 13,503 
Furniture and fixtures
 10,909  10,893 
Test and lab equipment
 13,112  11,984 
Leasehold improvements
 63,644  61,173 
Computer and equipment
 8,493  7,839 
Computer software
 3,381  3,321 
Automobile
 4,716  3,444 
Buildings
 1,398  1,040 
119,156  113,197 
Less accumulated depreciation and amortization
 (23,172) (19,680)
Total property and equipment, net
 $ 95,984  $ 93,517 
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consist of the following as of March 31, 2022 and December 31, 2021:
As of
March 31,
2022		 December 31,
2021
Accrued expenses
 $ 15,717  $ 16,074 
Accrued compensation
 12,847  51,401 
Other
 2,646  2,531 
Total accrued expenses and other current liabilities
 $ 31,210  $ 70,006