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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Financial instruments not carried at fair value but requiring fair value disclosure | The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2022 and 2021:
|  | As of December 31, 2022 |  | As of December 31, 2021
(In thousands) |  | Face Value |  | Carrying Value |  | Fair Value |  | Face Value |  | Carrying Value |  | Fair Value
1.375% Convertible Senior Notes due 2023 (the “2023 Notes”) |  | $ | 10,381 |  |  | $ | 10,378 |  |  | $ | 19,625 |  |  | $ | 172,500 |  |  | $ | 163,687 |  |  | $ | 254,103 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the financial instruments and liabilities that are carried at fair value and summarizes their valuation by the respective pricing levels detailed in Note 2, “Summary of Significant Accounting Policies,” as of December 31, 2022 and 2021:
|  | As of December 31, 2022
(In thousands) |  | Total |  | Quoted Market Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets carried at fair value |  |  |  |  |  |  |  |
Money market funds |  | $ | 15,763 |  |  | $ | 15,763 |  |  | $ | — |  |  | $ | — |
U.S. Government bonds and notes |  | 96,371 |  |  | — |  |  | 96,371 |  |  | — |
Corporate notes, bonds and commercial paper |  | 106,355 |  |  | — |  |  | 106,355 |  |  | — |
Total assets carried at fair value |  | $ | 218,489 |  |  | $ | 15,763 |  |  | $ | 202,726 |  |  | $ | — |
Liabilities carried at fair value |  |  |  |  |  |  |  |
Earn-out consideration related to PLDA acquisition |  | $ | 14,800 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,800 |
Total liabilities carried at fair value |  | $ | 14,800 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,800 |
|  | As of December 31, 2021
(In thousands) |  | Total |  | Quoted Market Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets carried at fair value |  |  |  |  |  |  |  |
Money market funds |  | $ | 7,402 |  |  | $ | 7,402 |  |  | $ | — |  |  | $ | — |
U.S. Government bonds and notes |  | 102,812 |  |  | — |  |  | 102,812 |  |  | — |
Corporate notes, bonds and commercial paper |  | 287,905 |  |  | — |  |  | 287,905 |  |  | — |
Total assets carried at fair value |  | $ | 398,119 |  |  | $ | 7,402 |  |  | $ | 390,717 |  |  | $ | — |
Liabilities carried at fair value |  |  |  |  |  |  |  |
Earn-out consideration related to PLDA acquisition |  | $ | 16,900 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,900 |
Total liabilities carried at fair value |  | $ | 16,900 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,900 |
The following table presents additional information about liabilities measured at fair value for which the Company utilizes Level 3 inputs to determine fair value, as of December 31, 2022 and 2021:
|  | Years Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Balance as of January 1 |  | $ | 16,900 |  |  | $ | — |  |  | $ | 1,800 |
Addition of earn-out liability due to acquisition |  | — |  |  | 11,600 |  |  | — |
Change in fair value of earn-out liability due to remeasurement |  | 3,111 |  |  | 5,300 |  |  | (1,800) |
Change in fair value of earn-out liability due to achievement of revenue target |  | (5,211) |  |  | — |  |  | — |
Balance as of December 31 |  | $ | 14,800 |  |  | $ | 16,900 |  |  | $ | — |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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