Fair Value Measurements (Tables)
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12 Months Ended |
Dec. 31, 2021 |
| Fair Value Disclosures [Abstract] |
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| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2021 | | Level 1 | | Level 2 | | Level 3 | | Aggregate Fair Value | | Assets: | | | Money market funds | $ | 25,001 | | | $ | — | | | $ | — | | | $ | 25,001 | | | Total assets | 25,001 | | | — | | | — | | | 25,001 | | | Liabilities: | | |
| Derivative liabilities, noncurrent | — | | | — | | | 2,015 | | | 2,015 | | |
| Warrant liabilities - Public Warrants | 19,599 | | | — | | | — | | | 19,599 | | | Warrant liabilities - Private Placement Warrants | — | | | — | | | 9,733 | | | 9,733 | | | Total liabilities | $ | 19,599 | | | $ | — | | | $ | 11,748 | | | $ | 31,347 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | Level 1 | | Level 2 | | Level 3 | | Aggregate Fair Value | | Assets: | | | Money market funds | $ | 25,016 | | | $ | — | | | $ | — | | | $ | 25,016 | | | Total assets | 25,016 | | | — | | | — | | | 25,016 | | | Liabilities: | | | Derivative liabilities, noncurrent | — | | | — | | | 4,343 | | | 4,343 | | | Class B Units - related party | — | | | — | | | 593,235 | | | 593,235 | | | Total liabilities | $ | — | | | $ | — | | | $ | 597,578 | | | $ | 597,578 | |
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| Schedule of Fair Value Measurements Inputs |
The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates: | | | | | | | As of | | December 31, 2021 | | Stock price | $ | 7.54 | | | Exercise Price | $ | 11.50 | | | Expected life of the warrants to convert (years) | 4.56 | | Volatility | 29.70 | % | | Risk-free rate | 1.19 | % |
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| Schedule of Changes in Fair Value of Liabilities |
The following table summarizes the change in fair value of the derivative liabilities during the years ended December 31, 2019, 2020, and 2021: | | | | | | | Balance – January 1, 2019 | $ | 113,221 | | | Change in fair value of derivative instruments | 478 | | | Incremental Class B Units | 8,611 | | | Change in fair value of Class B Units | (3,003) | | | Balance – December 31, 2019 | 119,307 | | | Change in fair value of derivative instruments | 3,069 | | | Incremental Class B Units | 18,745 | | | Change in fair value of Class B Units | 456,457 | | | Balance – December 31, 2020 | 597,578 | | | Incremental Class B Units | 206,914 | | | Establishment of warrant liabilities on July 21, 2021 (date of the Transactions) | 45,021 | | | Change in fair value of derivative instruments | (18,017) | | | Change in fair value of Class B Units | 728,079 | | | Reclassification of Class B Units from liability to equity on July 21, 2021 (date of the Transactions) | (1,528,228) | | | Balance – December 31, 2021 | $ | 31,347 | | |
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| Schedule of Changes in Fair Value by Income Statement Location |
The following table summarizes the change in fair value of the Class B Units by income statement line item during the years ended December 31, 2021, 2020 and 2019: | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2021 | | 2020 | | 2019 | | Cost of revenue | $ | 136,417 | | | $ | 86,907 | | | $ | (548) | | | Sales and marketing | 10,870 | | | 6,545 | | | — | | | General and administrative | 580,792 | | | 363,005 | | | (2,455) | | | Total change in fair value of Class B Units | $ | 728,079 | | | $ | 456,457 | | | $ | (3,003) | |
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