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Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Summary of fair value measurements on a recurring basis and the level of inputs

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (in thousands):


		Fair Value Measured as of
		December 31, 2024
		Level 1				Level 2				Level 3				Total
Assets
Cash, cash equivalents and restricted cash:
Cash and money market funds(1)		$	33,204			$	—			$	—			$	33,204
US government and agency			—				23,636				—				23,636
Total cash, cash equivalents and restricted cash		$	33,204			$	23,636			$	—			$	56,840
Short-term investments:
Corporate notes and bonds			—				43,868				—				43,868
US government and agency			—				242,028				—				242,028
Total short-term investments		$	—			$	285,896			$	—			$	285,896
Long-term investments:
Corporate notes and bonds			—				1,924				—				1,924
US government and agency			—				21,621				—				21,621
Total long-term investments		$	—			$	23,545			$	—			$	23,545
Total assets		$	33,204			$	333,077			$	—			$	366,281
Liabilities
Public warrants		$	70,688			$	—			$	—			$	70,688


		Fair Value Measured as of
		December 31, 2023
		Level 1				Level 2				Level 3				Total
Assets
Cash, cash equivalents and restricted cash:
Cash and money market funds(1)		$	25,131			$	—			$	—			$	25,131
US government and agency			—				12,950				—				12,950
Total cash, cash equivalents and restricted cash		$	25,131			$	12,950			$	—			$	38,081
Short-term investments:
Commercial paper			—				16,360				—				16,360
Corporate notes and bonds			—				130,423				—				130,423
Municipal bonds			—				4,947				—				4,947
US government and agency			—				168,046				—				168,046
Total short-term investments		$	—			$	319,776			$	—			$	319,776
Long-term investments:
Corporate notes and bonds			—				44,554				—				44,554
US government and agency			—				55,935				—				55,935
Total long-term investments		$	—			$	100,489			$	—			$	100,489
Total assets		$	25,131			$	433,215			$	—			$	458,346
Liabilities
Public warrants		$	23,004			$	—			$	—			$	23,004

(1)

Includes money market funds associated with the Company’s overnight investment sweep account and cash collateralizing the Company's letter of credit and corporate credit cards.