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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarizes the Company’s financial assets measured at fair value as of December 31, 2022 and 2021 and indicates the fair value hierarchy of the valuation:

												Fair Value at Reporting Date Using
(In thousands)						December 31, 2022						Level 1						Level 2						Level 3
Assets:
Cash equivalents(1)						$	28,173					$	28,173					$	—					$	—
Marketable securities:
Corporate bonds						26,037						—						26,037						—
Commercial paper						36,407						—						36,407						—
U.S. Treasury debt securities						22,731						22,731						—						—
International debt securities						2,460						2,460						—						—
Total marketable securities						87,635						25,191						62,444						—
Total Assets						$	115,808					$	53,364					$	62,444					$	—

(1) Includes cash sweep account, money market account, and money market funds that have investments in primarily U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements, and corporate bonds that have a maturity of three months or less from the original acquisition date.

												Fair Value at Reporting Date Using
(In thousands)						December 31, 2021						Level 1						Level 2						Level 3
Assets:
Cash equivalents(1)						$	308,128					$	308,128					$	—					$	—
Total Assets						$	308,128					$	308,128					$	—					$	—
Liabilities:
Contingent consideration payable						$	(15,500)					$	—					$	—					$	(15,500)
Total Liabilities						$	(15,500)					$	—					$	—					$	(15,500)

(1) Includes cash sweep account, money market account, and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements, and corporate bonds that have a maturity of three months or less from the original acquisition date.

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table represents the changes to the Company’s contingent consideration payable (in thousands):

Balance at December 31, 2021						$	15,500
Total fair value adjustments reported in earnings (Acquisition-related expenses, net)						(15,500)
Balance at December 31, 2022						$	—

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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