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Investment Securities and Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Investment Securities Available-for-Sale | Investment securities classified as available-for-sale consisted of the following as of December 31, 2024 and 2023 (in thousands):
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. government and agency securities | $ | 235,509 |  |  | $ | 261 |  |  | $ | (25) |  |  | $ | 235,745 |
Total available-for-sale investment securities | $ | 235,509 |  |  | $ | 261 |  |  | $ | (25) |  |  | $ | 235,745 |
| December 31, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. government and agency securities | 162,062 |  |  | 193 |  |  | (59) |  |  | 162,196 |
Total available-for-sale investment securities | $ | 162,062 |  |  | $ | 193 |  |  | $ | (59) |  |  | $ | 162,196 |
Schedule of Fair Values of Available-for-Sale Investment Securities, by Remaining Contractual Maturity | The fair values of available-for-sale investment securities, by remaining contractual maturity, are as follows (in thousands):
| December 31, 2024 |  | December 31, 2023
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Due in one year or less | $ | 235,509 |  |  | $ | 235,745 |  |  | $ | 162,062 |  |  | $ | 162,196 |
Total available-for-sale investment securities | $ | 235,509 |  |  | $ | 235,745 |  |  | $ | 162,062 |  |  | $ | 162,196 |
Schedule of Sales and Maturities of Investment Securities | During the years ended December 31, 2024 and 2023, we had sales and maturities (which include calls) of investment securities, as follows (in thousands):
| Year Ended December 31, 2024
| Gross Realized Gains |  | Gross Realized Losses |  | Gross Proceeds from Sales |  | Gross Proceeds from Maturities
U.S. government and agency securities | 4 |  |  | (1) |  |  | 9,984 |  |  | 240,035 |
| $ | 4 |  |  | $ | (1) |  |  | $ | 9,984 |  |  | $ | 240,035 |
| Year Ended December 31, 2023
| Gross Realized Gains |  | Gross Realized Losses |  | Gross Proceeds from Sales |  | Gross Proceeds from Maturities
Corporate bonds | $ | 3 |  |  | $ | — |  |  | $ | 1,013 |  |  | $ | 16,497 |
U.S. government and agency securities | — |  |  | — |  |  | — |  |  | 135,885 |
| $ | 3 |  |  | $ | — |  |  | $ | 1,013 |  |  | $ | 152,382 |
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis | The following tables present our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023 by level within the fair value hierarchy (in thousands):
| December 31, 2024
| Level 1 |  | Level 2 |  |  |  | Total Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 25,167 |  |  | $ | — |  |  |  |  | $ | 25,167 |
Available-for-sale investment securities: |  |  |  |  |  |  |
U.S. government and agency securities | — |  |  | 235,745 |  |  |  |  | 235,745 |
Total | $ | 25,167 |  |  | $ | 235,745 |  |  |  |  | $ | 260,912 |
| December 31, 2023
| Level 1 |  | Level 2 |  |  |  | Total Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 37,100 |  |  | $ | — |  |  |  |  | $ | 37,100 |
Available-for-sale investment securities: |  |  |  |  |  |  |
U.S. government and agency securities | — |  |  | 162,196 |  |  |  |  | 162,196 |
Total | $ | 37,100 |  |  | $ | 162,196 |  |  |  |  | $ | 199,296 |
Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis | The following tables present our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023 by level within the fair value hierarchy (in thousands):
| December 31, 2024
| Level 1 |  | Level 2 |  |  |  | Total Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 25,167 |  |  | $ | — |  |  |  |  | $ | 25,167 |
Available-for-sale investment securities: |  |  |  |  |  |  |
U.S. government and agency securities | — |  |  | 235,745 |  |  |  |  | 235,745 |
Total | $ | 25,167 |  |  | $ | 235,745 |  |  |  |  | $ | 260,912 |
| December 31, 2023
| Level 1 |  | Level 2 |  |  |  | Total Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 37,100 |  |  | $ | — |  |  |  |  | $ | 37,100 |
Available-for-sale investment securities: |  |  |  |  |  |  |
U.S. government and agency securities | — |  |  | 162,196 |  |  |  |  | 162,196 |
Total | $ | 37,100 |  |  | $ | 162,196 |  |  |  |  | $ | 199,296 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + 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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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
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- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
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- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 + Details
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