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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured on Recurring Basis

The following tables present the Company’s fair value hierarchy for its assets, which are measured at fair value on a recurring basis (in thousands):

		Fair Value Measurements at June 30, 2024
		Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	57,001			$	—			$	—			$	57,001
Marketable securities:
Commercial paper			—				105,445				—				105,445
Corporate bonds			—				320,383				—				320,383
Government and agency securities			—				124,763				—				124,763
U.S. treasury bills			—				29,703				—				29,703
		$	57,001			$	580,294			$	—			$	637,295

		Fair Value Measurements at December 31, 2023
		Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	327,055			$	—			$	—			$	327,055
Marketable securities:
Commercial paper			—				67,080				—				67,080
Corporate bonds			—				193,949				—				193,949
Government and agency securities			—				89,027				—				89,027
U.S. treasury bills			—				34,462				—				34,462
		$	327,055			$	384,518			$	—			$	711,573

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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

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- References

No definition available.

+ Details

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