Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

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

The following table presents the balances of assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy, as of the dates presented (in thousands):


		March 31, 2024																December 31, 2023
		Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	132,475			$	—			$	—			$	132,475			$	78,661			$	—			$	—			$	78,661
Total cash equivalents			132,475				—				—				132,475				78,661				—				—				78,661
Short-term investments:
U.S. government agency securities			—				4,963				—				4,963				—				11,893				—				11,893
Corporate notes and bonds			—				—				—				—				—				—				—				—
Commercial paper			—				—				—				—				—				—				—				—
Treasury bill			—				—				—				—				—				—				—				—
Yankee bonds			—				1,973				—				1,973				—				1,951				—				1,951
Agency bonds			—				—				—				—				—				2,994				—				2,994
Asset-backed securities			—				356				—				356				—				1,602				—				1,602
Total short-term investments			—				7,292				—				7,292				—				18,440				—				18,440
Long-term investments:
U.S. government agency securities			—				—				—				—				—				—				—				—
Yankee bonds			—				—				—				—				—				—				—				—
Agency bonds			—				—				—				—				—				—				—				—
Asset-backed securities			—				—				—				—				—				—				—				—
Total long-term investments			—				—				—				—				—				—				—				—
Total		$	132,475			$	7,292			$	—			$	139,767			$	78,661			$	18,440			$	—			$	97,101

Acquisition related contingent consideration liability			—				—				7,087				7,087				—				—				6,180				6,180
Total liabilities at fair value		$	—			$	—			$	7,087			$	7,087			$	—			$	—			$	6,180			$	6,180

Schedule of Additional Information of Liabilities Measured at Fair Value for Company Utilized Level 3 Inputs to Determine Fair Value

The following table presents additional information about liabilities measured at fair value for which the Company utilizes Level 3 inputs to determine fair value as of March 31, 2024 (in thousands):


		Three Months Ended March 31,
		2024
Balance as of January 1		$	6,180
Change in fair value of contingent consideration liability due to remeasurement			907
Balance as of March 31		$	7,087

Schedule of Cost Or Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses, And Total Estimated Fair Value Of Financial Assets

The following tables present the cost or amortized cost, gross unrealized gains, gross unrealized losses and total estimated fair value of our financial assets as of the dates presented (in thousands):


	March 31, 2024
	Cost or				Gross				Gross				Total Estimated
	Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Value
Description:
Money market funds	$	132,475			$	—			$	—			$	132,475
U.S. government agency securities		4,975				—				(12	)			4,963
Corporate notes and bonds		—				—				—				—
Yankee bonds		1,977				—				(4	)			1,973
Commercial paper		—				—				—				—
Treasury bill		—				—				—				—
Agency bond		—				—				—				—
Asset-backed securities		356				—				—				356
Total	$	139,783			$	—			$	(16	)		$	139,767


	December 31, 2023
	Cost or				Gross				Gross				Total Estimated
	Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Value
Description:
Money market funds	$	78,661			$	—			$	—			$	78,661
U.S. government agency securities		11,932				—				(39	)			11,893
Corporate notes and bonds		—				—				—				—
Yankee bonds		1,956				—				(5	)			1,951
Commercial paper		—				—				—				—
Treasury bill		—				—				—				—
Agency bond		2,998				—				(4	)			2,994
Asset-backed securities		1,604				—				(2	)			1,602
Total	$	97,151			$	—			$	(50	)		$	97,101