Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Contractual Maturities of Investments

The contractual maturities of investments classified as marketable securities are as follows:


	March 31, 2024		December 31, 2023
Due within 1 year	$	441,293	$	439,155
Due after 1 year through 2 years	193,034		226,042
Total marketable securities	$	634,327	$	665,197

Schedule of Marketable Securities

The following table represents the amortized cost, gross unrealized gains and losses, and fair market value of the Company’s marketable securities by significant investment category in addition to their fair value level at March 31, 2024 and December 31, 2023.


	As of March 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Level
Commercial paper	$	25,496	$	1	$	(33)	$	25,464	2
U.S. Treasuries	308,292		956		(408)		308,840		1
Corporate bonds	288,772		320		(785)		288,307		2
Money market funds measured at NAV (a)	11,716		—		—		11,716		N/A
Total marketable securities	$	634,276	$	1,277	$	(1,226)	$	634,327


	As of December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Level
Commercial paper	$	42,903	$	16	$	(24)	$	42,895	2
U.S. Treasuries	324,274		2,896		(257)		326,913		1
Corporate bonds	294,540		969		(564)		294,945		2
Money market funds measured at NAV (a)	444		—		—		444		N/A
Total marketable securities	$	662,161	$	3,881	$	(845)	$	665,197

(a)Money market funds that were measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the condensed consolidated balance sheets.