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Investments and Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Components of Investments The components of our investments as of December 31, 2023 and 2022 are as follows (in thousands):
As of December 31, 2023
Fair Value MeasurementBalance Sheet Classification
Fair Value LevelCost BasisUnrealized Gains (Losses)
Fair Value
Cash and Cash EquivalentsShort-term Investments and Marketable Securities
Cash
Level 1$— $— $93,029 $93,029 $— 
Money market fundLevel 156,322 — 56,322 56,322 — 
U.S. Treasury bondsLevel 14,830 (2)4,828 — 4,828 
Agency bondsLevel 24,828 (3)4,825 — 4,825 
Total investments$65,980 $(5)$159,004 $149,351 $9,653 

As of December 31, 2022, our investments consisted of the following (in thousands):

As of December 31, 2022
Fair Value MeasurementBalance Sheet Classification
Fair Value LevelCost BasisUnrealized Gains (Losses)
Fair Value
Cash and Cash EquivalentsShort-Term Investments and Marketable Securities
Cash
Level 1$— $— $108,663 $108,663 $— 
Money market fundLevel 139,469 — 39,469 39,469 — 
U.S. Treasury bondsLevel 19,396 (13)9,383 — 9,383 
Commercial paperLevel 226,704 — 26,704 — 26,704 
Corporate bondsLevel 29,353 (12)9,341 — 9,341 
Agency bonds
Level 22,432 3 2,435 — 2,435 
Total investments$87,354 $(22)$195,995 $148,132 $47,863