v3.24.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements
4. Fair Value Measurements

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis at the periods indicated below, by level within the fair value hierarchy (in thousands):

As of September 30, 2024
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$274,921 $— $— $274,921 
Total$274,921 $— $— $274,921 

As of December 31, 2023
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$314,511 $— $— $314,511 
Total$314,511 $— $— $314,511 

As of September 30, 2024 and December 31, 2023, certain of the Company’s cash equivalents were held in money market funds. The Company’s investments in money market funds are classified within Level 1 of the fair value hierarchy as they are valued using quoted market prices in active markets.
As of September 30, 2024 and December 31, 2023, the Company’s carrying amounts of financial instruments, including cash, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to their short-term maturities.