v3.24.3
Fair Value of Financial Instruments
9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

4. Fair Value of Financial Instruments

As of September 30, 2024 and December 31, 2023, assets measured at fair value on a recurring basis consist of the following:

 

 

 

As of September 30, 2024

 

 

 

Quoted Prices
in Active Markets
for Identical Assets
(Level 1 Inputs)

 

 

Significant Other
Observable Inputs
(Level 2 Inputs)

 

 

Significant
Unobservable Inputs
(Level 3 Inputs)

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

$

137,781

 

 

$

—

 

 

$

—

 

 

$

137,781

 

Total

 

$

137,781

 

 

$

—

 

 

$

—

 

 

$

137,781

 

 

 

 

As of December 31, 2023

 

 

 

Quoted Prices
in Active Markets
for Identical Assets
(Level 1 Inputs)

 

 

Significant Other
Observable Inputs
(Level 2 Inputs)

 

 

Significant
Unobservable Inputs
(Level 3 Inputs)

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

$

73,449

 

 

$

—

 

 

$

—

 

 

$

73,449

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

 

20,724

 

 

 

—

 

 

 

—

 

 

 

20,724

 

Total

 

$

94,173

 

 

$

—

 

 

$

—

 

 

$

94,173

 

 

For the three months ended September 30, 2024, there was no dividend income recognized within interest income in the Unaudited Condensed Consolidated Income Statements. For the three months ended September 30, 2023 and for the nine months ended September 30, 2024 and 2023, dividend income recognized within interest income in the Unaudited Condensed Consolidated Income Statement was immaterial.

For the three months ended September 30, 2024, there was no unrealized and realized gain on short-term investments in equity securities. For the three months ended September 30, 2023 and for the nine months ended September 30, 2024 and 2023, unrealized and realized gain on short-term investments in equity securities was immaterial.

As of September 30, 2024, the Company did not have any short-term investments as all were sold during the nine months ended September 30, 2024.