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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Summary of the valuation of cash equivalents and marketable securities by pricing levels | The following table presents the financial instruments that are carried at fair value and summarizes their valuation by the respective pricing levels as of March 31, 2025 and December 31, 2024:
|  | As of March 31, 2025
(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 |  | $ | 13,212 |  |  | $ | 13,212 |  |  | $ | — |  |  | $ | — |
Time deposits |  | 12,870 |  |  | — |  |  | 12,870 |  |  | — |
U.S. Government bonds and notes |  | 201,989 |  |  | — |  |  | 201,989 |  |  | — |
Corporate bonds, commercial paper and notes |  | 180,385 |  |  | — |  |  | 180,385 |  |  | — |
Total assets carried at fair value |  | $ | 408,456 |  |  | $ | 13,212 |  |  | $ | 395,244 |  |  | $ | — |
|  | As of December 31, 2024
(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 |  | $ | 6,025 |  |  | $ | 6,025 |  |  | $ | — |  |  | $ | — |
Time deposits |  | 12,870 |  |  | — |  |  | 12,870 |  |  | — |
U.S. Government bonds and notes |  | 220,056 |  |  | — |  |  | 220,056 |  |  | — |
Corporate bonds, commercial paper and notes |  | 155,432 |  |  | — |  |  | 155,432 |  |  | — |
Total assets carried at fair value |  | $ | 394,383 |  |  | $ | 6,025 |  |  | $ | 388,358 |  |  | $ | — |
Fair value, liabilities measured on recurring basis, unobservable input reconciliation | The following table presents additional information about liabilities measured at fair value for which the Company utilized Level 3 inputs to determine fair value, as of March 31, 2024.
|  |  |  | Three Months Ended
|  |  |  | March 31,
(In thousands) |  |  |  | 2024
Balance as of beginning of period |  |  |  | $ | 12,500 |
Change in fair value of earn-out liability due to remeasurement |  |  |  | 700 |
Balance as of end of period |  |  |  | $ | 13,200 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + 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/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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