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Fair Value Measurements
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is defined as the price that would be received from selling an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The standard establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows:
Level 1 — Quoted prices in active markets for identical assets and liabilities.
Level 2 — Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly.
Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
At September 30, 2025, our financial assets recorded at fair value on a recurring basis consist of cash equivalents. At December 31, 2024, our financial assets recorded at fair value on a recurring basis consist of cash equivalents and available-for-sale debt security. The cash equivalents consist of money market funds valued using quoted prices in active markets, which represents Level 1 inputs in the fair value hierarchy.

During the three months ended June 30, 2025, we received proceeds related to the sale of our available-for-sale debt security, our investment in LegalVision Pty Ltd, or LegalVision, of $1.5 million. We acquired our interest in LegalVision through a convertible promissory note for approximately $0.7 million during the year ended December 31, 2019. As a result of the sale, we recorded a net gain of $0.6 million in other income, net in the unaudited condensed consolidated statements of operations.
The carrying amounts of accounts receivable, accounts payable and accrued expenses and other current liabilities approximate fair values because of the short-term nature of these items.
The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands):
As of September 30, 2025
Level 1Level 2Level 3
Money market funds191,609 — — 
Total assets$191,609 $— $— 
 
As of December 31, 2024
 Level 1Level 2Level 3
Available-for-sale debt security
$— $— $1,377 
Money market funds
114,690 — — 
Total assets
$114,690 $— $1,377