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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

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

The following tables provide information by level for the Company’s assets and liabilities that were measured at fair value on a recurring basis (in thousands):

			June 30, 2024
			Level 1						Level 2						Level 3						Total
Assets
Cash and cash equivalents:
Money market funds			$	18,364					$	—					$	—					$	18,364
Short-term investments:
Commercial paper			—						$	72,690					—						72,690
Corporate debt and U.S. government agency securities			—						$	58,867					—						58,867
Total short-term investments			—						131,557						—						131,557
Total financial assets			$	18,364					$	131,557					$	—					$	149,921
Liabilities
Warrant liabilities			$	—					$	—					$	256					$	256
Total financial liabilities			$	—					$	—					$	256					$	256

			December 31, 2023
			Level 1						Level 2						Level 3						Total
Assets
Cash and cash equivalents:
Money market funds			$	7,354					$	—					$	—					$	7,354
Commercial paper			—						2,989						—						2,989
Short-term investments:
Commercial paper			—						80,620						—			`			80,620
Corporate debt and U.S. government agency securities			—						58,538												58,538
Total short-term investments			$	—					$	139,158					$	—					$	139,158
Total financial assets			$	7,354					$	142,147					$	—					$	149,501
Liabilities
Warrant liabilities			$	—					$	—					$	229					$	229
Total financial liabilities			$	—					$	—					$	229					$	229

Schedule of Changes in Fair Value of Level 3 Financial Instruments

The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments (in thousands):

			Private Placement Warrant Liability
Fair value as of December 31, 2023			$	229
Change in the fair value included in other income, net			27
Fair value as of June 30, 2024			$	256
Fair value as of December 31, 2022			$	180
Change in the fair value included in other income, net			(126)
Fair value as of June 30, 2023			$	54

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- References

No definition available.

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- Definition

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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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