Spire Global, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s fair value hierarchy for its derivative instruments and common and preferred stock warrant liabilities that are measured at fair value on a recurring basis:


	June 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Contingent interest embedded derivative (classified within long-term debt, non-current)	$	—	$	—	$	8,922	$	8,922

Liabilities:
Warrant liability	$	—	$	—	$	13,600	$	13,600


	December 31, 2020
	Level 1		Level 2		Level 3		Total
Liabilities:
Warrant liability	$	—	$	—	$	4,007	$	4,007

The following tables present the Company’s fair value hierarchy for its common and preferred stock warrant liabilities (Note 12) that are measured at fair value on a recurring basis:


	December 31, 2020
	Level 1		Level 2		Level 3		Total
Liabilities:
Warrant liability	$	—	$	—	$	4,007	$	4,007


	December 31, 2019
	Level 1		Level 2		Level 3		Total
Liabilities:
Warrant liability	$	—	$	—	$	197	$	197

Summary of Warrants Classified as Equity That Are Measured at Fair Value on Nonrecurring Basis

The following tables present the Company’s fair value hierarchy for its warrants classified as equity that are measured at fair value on a nonrecurring basis:


	June 30, 2021
	Level 1		Level 2		Level 3		Total
Equity:
Warrants	$	—	$	—	$	970	$	970


	December 31, 2020
	Level 1		Level 2		Level 3		Total
Equity:
Warrants	$	—	$	—	$	970	$	970

The following tables present the Company’s fair value hierarchy for its warrants classified as equity (Note 12) that are measured at fair value on a nonrecurring basis:


	December 31, 2020
	Level 1		Level 2		Level 3		Total
Equity:
Warrants	$	—	$	—	$	970	$	970


	December 31, 2019
	Level 1		Level 2		Level 3		Total
Equity:
Warrants	$	—	$	—	$	428	$	428

Schedule of Quantitative Information Regarding Warrant Liability

The table below quantifies the most significant inputs used for the warrants:



	June 30, 2021			December 31, 2020

Fair value of the Company’s common stock	$	14.61		$	4.19
Risk-free interest rate		0.13	%		0.13	%
Expected volatility factor		68.3	%		68.4	%
Remaining contractual term (in years)		4.2			4.7

The table below quantifies the most significant inputs used for the warrants:


	December 31,
	2020			2019
Fair value of the Company’s common stock	$	4.19		$	3.57
Risk-free interest rate		0.13	%		1.81	%
Expected volatility factor		68.4	%		45.0	%
Remaining contractual term (in years)		4.7			3.0

Summary of Change in Fair Value of The Warrant Liabilities

The following table provides a roll-forward of the aggregate fair values of the warrant liability for the six months ended June 30, 2021 as determined by Level 3 inputs:



Fair value at December 31, 2020	$	4,007
Issuance of warrants		308
Exercise of warrants		(891	)
Change in fair value		10,176

Fair value at June 30, 2021	$	13,600

The following table provides a roll-forward of the aggregate fair values of the warrant liability as determined by Level 3 inputs:


Fair value at December 31, 2018	$	197
Change in fair value		—

Fair value at December 31, 2019		197
Issuance of warrants		3,612
Change in fair value		198

Fair value at December 31, 2020	$	4,007