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

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

The carrying amounts of cash, cash equivalents, restricted cash, accounts receivable, prepaid expenses, accounts payable, and customer deposits approximate fair value due to their short-term nature. Cash equivalents of $43.1 million are currently held in money market funds which are classified as Level 1 because they are valued using quoted market prices in active markets for identical assets. As of December 31, 2022, the fair value of the Company’s loan payable was $15.1 million. As of December 31, 2023, the carrying value of the Company’s loan payable was $20.3 million. The estimated fair value for the Company’s loan payable was based on discounted expected future cash flows using prevailing interest rates which are Level 2 inputs under the fair value hierarchy.

The following tables present information about our financial instruments that have been measured at fair value as of December 31, 2023 and 2022:


	December 31, 2023		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Money market funds	$	43,104	$	43,104	$	—	$	—
Total	$	43,104	$	43,104	$	—	$	—

Financial Liabilities
Loan payable	$	20,303	$	—	$	—	$	20,303
Total	$	20,303	$	—	$	—	$	20,303

	December 31, 2022		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Money market funds	$	18,974	$	18,974	$	—	$	—
Total	$	18,974	$	18,974	$	—	$	—

Financial Liabilities
Loan payable	$	15,134	$	—	$	—	$	15,134
Total	$	15,134	$	—	$	—	$	15,134

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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