Augmedix, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

Fair Value Measurements

9 Months Ended

Sep. 30, 2023

Fair Value Measurements [Abstract]

Fair Value Measurements

3. Fair Value Measurements

Fair Value of Financial Instruments

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. The fair value of the warrant liability was determined based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The warrant liability was reclassified to stockholders’ equity as of September 30, 2023.

The following tables present information about our financial instruments that have been measured at fair value as of September 30, 2023 and December 31, 2022:

(in thousands)	September 30, 2023		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Money market funds	$	18,803	$	18,803	$	—	$	—
Total	$	18,803	$	18,803	$	—	$	—

Financial Liabilities
Loan payable	$	20,108	$	—	$	—	$	20,108
Total	$	20,108	$	—	$	—	$	20,108

Description		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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