Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis included the following as of March 31, 2023 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value as of March 31, 2023
Cash equivalents:

Money market funds	$	144,725	$	—	$	—	$	144,725
Long-term investment:
Failed Auction Security		—		—		2,631		2,631

Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2022 (in thousands):


	Using
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value as of December 31, 2022
Cash equivalents:

Money market funds	$	143,274	$	—	$	—	$	143,274
Long-term investment:
Failed Auction Security		—		—		2,622		2,622

Change in Estimated Fair Values Calculated for Investment Valued on Recurring Basis Utilizing Level 3 Inputs

The change in the estimated fair value calculated for the investment valued on a recurring basis utilizing Level 3 inputs (i.e., the Failed Auction Security) for the three months ended March 31, 2023 was as follows (in thousands):

Balance at the beginning of the period	$	2,622
Credit gain on available-for-sale security included in Other income (expense), net		9

Balance at the end of the period	$	2,631