Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 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):


		September 30, 2024																December 31, 2023
		Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	1,299			$	—			$	—			$	1,299			$	78,661			$	—			$	—			$	78,661
U.S. Treasury securities			—				7,973				—				7,973				—				—				—				—
Commercial paper			—				30,815				—				30,815				—				—				—				—
Total cash equivalents			1,299				38,788				—				40,087				78,661				—				—				78,661
Short-term investments:
U.S. Government agency securities			—				3,898				—				3,898				—				11,893				—				11,893
U.S. Treasury securities			—				60,149				—				60,149				—				—				—				—
Yankee bonds			—				—				—				—				—				1,951				—				1,951
Agency bonds			—				—				—				—				—				2,994				—				2,994
Asset-backed securities			—				—				—				—				—				1,602				—				1,602
Corporate notes and bonds			—				24,656				—				24,656				—				—				—				—
Commercial paper			—				7,848				—				7,848				—				—				—				—
Total short-term investments			—				96,551				—				96,551				—				18,440				—				18,440
Long-term investments:
U.S. Government agency securities			—				2,000				—				2,000				—				—				—				—
U.S. Treasury securities			—				8,456				—				8,456				—				—				—				—
Corporate notes and bonds			—				46,666				—				46,666				—				—				—				—
Total long-term investments			—				57,122				—				57,122				—				—				—				—
Total		$	1,299			$	192,461			$	—			$	193,760			$	78,661			$	18,440			$	—			$	97,101

Acquisition related contingent consideration liability			—				—				—				—				—				—				6,180				6,180
Total liabilities at fair value		$	—			$	—			$	—			$	—			$	—			$	—			$	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 used Level 3 inputs to determine fair value (in thousands):


		Nine Months Ended September 30,
		2024
Balance as of January 1		$	6,180
Change in fair value of contingent consideration liability due to remeasurement			986
Contingent consideration payment made			(7,166	)
Balance as of September 30		$	—

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):


	September 30, 2024
	Cost or				Gross				Gross				Total Estimated
	Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Value
Description:
Money market funds	$	1,299			$	—			$	—			$	1,299
U.S. Government agency securities		5,898				1				(1	)			5,898
U.S. Treasury securities		76,554				29				(5	)			76,578
Corporate notes and bonds		71,392				5				(75	)			71,322
Commercial paper		38,657				6				—				38,663
Total	$	193,800			$	41			$	(81	)		$	193,760


	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
Yankee bonds		1,956				—				(5	)			1,951
Agency bond		2,998				—				(4	)			2,994
Asset-backed securities		1,604				—				(2	)			1,602
Total	$	97,151			$	—			$	(50	)		$	97,101