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Investments (Tables) | 3 Months Ended
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Mar. 31, 2025
Investments, All Other Investments [Abstract] |
Summary of Fair value of Company's Financial Assets | Fair Value of Financial Assets The fair value of the Company's financial assets as of March 31, 2025, have been categorized based upon the fair value hierarchy as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 113,918 |  | $ | — |  | $ | 113,918 |  | $ | —
Certificates of Deposit |  | 3,571 |  |  | — |  |  | 3,571 |  |  | —
Total fair value assets included in cash and cash equivalents |  | 117,489 |  |  | — |  |  | 117,489 |  |  | —
Investments |  |  |  |  |  |  |  |  |  |  |
Sovereign debt securities |  | 148,801 |  |  | — |  |  | 148,801 |  |  | —
Certificates of Deposit |  | 3,000 |  |  | — |  |  | 3,000 |  |  | —
Total fair value assets included in investments |  | 151,801 |  |  | — |  |  | 151,801 |  |  | —
Total fair value assets | $ | 269,290 |  | $ | — |  | $ | 269,290 |  | $ | —
The fair value of the Company's financial assets as of December 31, 2024, have been categorized based upon the fair value hierarchy as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |
Sovereign debt securities | $ | 240,558 |  | $ | — |  | $ | 240,558 |  | $ | —
Money market funds |  | 100,227 |  |  | — |  |  | 100,227 |  |  | —
Certificates of Deposit |  | 10,137 |  |  | — |  |  | 10,137 |  |  | —
Total fair value assets included in cash and cash equivalents |  | 350,922 |  |  | — |  |  | 350,922 |  |  | —
Investments |  |  |  |  |  |  |  |  |  |  |
Sovereign debt securities |  | 146,924 |  |  | — |  |  | 146,924 |  |  | —
Certificates of Deposit |  | 1,000 |  |  | — |  |  | 1,000 |  |  | —
Total fair value assets included in investments |  | 147,924 |  |  | — |  |  | 147,924 |  |  | —
Total fair value assets | $ | 498,846 |  | $ | — |  | $ | 498,846 |  | $ | —

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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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