Desktop Metal, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of financial assets measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands):


	December 31, 2023
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Items		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Money market funds	$	40,799	$	—	$	—	$	40,799
Equity securities		625		—		—		625
Other investments		—		—		2,000		2,000
Total assets	$	41,424	$	—	$	2,000	$	43,424


	December 31, 2022
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Items		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Money market funds	$	51,274	$	—	$	—	$	51,274
Commercial paper		—		39,781		—		39,781
Corporate bonds		—		28,814		—		28,814
U.S. Treasury securities		—		19,818		—		19,818
Government bonds		—		14,744		—		14,744
Asset-backed securities		—		3,998		—		3,998
Equity securities		1,088		—		—		1,088
Other investments		—		—		2,000		2,000
Total assets	$	52,362	$	107,155	$	2,000	$	161,517
Liabilities:
Contingent consideration	$	—	$	—	$	2,587	$	2,587
Total liabilities	$	—	$	—	$	2,587	$	2,587

Schedule of Level 3 assets measured at fair value

The following table presents information about the Company’s movement in Level 3 assets measured at fair value (in thousands):


	Year Ended December 31,
	2023		2022
Balance at beginning of period	$	2,000	$	6,750
Changes in fair value		—		(1,650)
Disposals		—		(3,100)

Balance at end of period

2,000

Schedule of Level 3 liabilities measured at fair value

The following table presents information about the Company’s movement in Level 3 liabilities measured at fair value (in thousands):


	Year Ended December 31,
	2023		2022
Balance at beginning of period	$	2,587	$	5,654
Payment of contingent consideration liability		(2,390)		(1,500)
Sale of Aerosint		(197)		—
Changes in fair value		—		(1,567)
Balance at end of period	$	—	$	2,587