v3.24.2.u1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following tables set forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy (in thousands):
June 30, 2024
Level 1Level 2Level 3Total
Financial Assets
Money market funds$38,418 $— $— $38,418 
Commercial paper
— 3,585 — 3,585 
Certificates of deposit— 11,521 — 11,521 
Cash equivalents38,418 15,106 — 53,524 
Commercial paper— 42,577 — 42,577 
U.S. Treasury and government debt securities— 49,498 — 49,498 
Marketable securities— 92,075 — 92,075 
Total financial assets$38,418 $107,181 $— $145,599 
December 31, 2023
Level 1Level 2Level 3Total
Financial Assets
Money market funds$42,126 $— $— $42,126 
Certificates of deposit— 12,528 — 12,528 
Cash equivalents42,126 12,528 — 54,654 
Commercial paper— 50,962 — 50,962 
Agency debt securities— 2,995 — 2,995 
U.S. Treasury and government debt securities— 42,878 — 42,878 
Marketable securities— 96,835 — 96,835 
Total financial assets$42,126 $109,363 $— $151,489 
The Company’s financial assets consist of Level 1 and 2 assets. The Company had no Level 3 assets or liabilities for the periods presented. The Company classifies its cash equivalents and marketable securities within Level 1 or Level 2 because they are valued using either quoted market prices or inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. The Company’s fixed income available-for-sale securities consist of high quality, investment grade securities from diverse issuers. The valuation techniques used to measure the fair value of the Company’s marketable securities were derived from non-binding market consensus prices that are corroborated by observable market data and quoted market prices for similar instruments.