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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities at Fair Value

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis:

			December 31, 2022
			Level 1						Level 2						Level 3						Total Fair Value
Cash equivalents
Money market funds			$	462,459					$	—					$	—					$	462,459
Marketable securities
U.S. treasury securities			378,002						—						—						378,002
U.S. agency securities			—						29,059						—						29,059
Commercial paper			—						28,815						—						28,815
Corporate debt securities			—						4,982						—						4,982
Total assets			$	840,461					$	62,856					$	—					$	903,317

			December 31, 2021
			Level 1						Level 2						Level 3						Total Fair Value
Cash equivalents
Money market funds			$	1,213,543					$	—					$	—					$	1,213,543
Marketable securities
U.S. treasury securities			418,284						—						—						418,284
Commercial paper			—						13,878						—						13,878
Asset-backed securities			—						2,002						—						2,002
Corporate debt securities			—						18,711						—						18,711
Total assets			$	1,631,827					$	34,591					$	—					$	1,666,418

Schedule of Fair Value Assumptions

The fair value of the redeemable convertible preferred stock warrant liabilities was estimated using the following assumptions:

			June 9, 2021
Dividend yield			0.00%
Expected volatility			49.93%
Expected term (in years)			2.34
Risk-free interest rate			0.31%
Fair value of Series B redeemable convertible preferred stock			$27.00

Summary of Changes in Fair Value

The following table sets forth a summary of the changes in the fair value of the redeemable convertible preferred stock warrant liabilities:

			December 31, 2021
Balance, beginning of the period			$	2,517
Remeasurement of redeemable convertible preferred stock warrant liabilities			2,921
Reclassification of redeemable convertible preferred stock warrant liabilities to common stock and additional paid-in capital upon initial public offering			(5,438)
Balance, end of the period			$	—

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
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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

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-Section 50
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-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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