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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Values of Financial Assets and Liabilities Measured at Fair Value | The table below presents information about the Company’s assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of valuation techniques the Company utilized to determine such fair values (in thousands):
|  | Fair Value Measurements Using |
|  |  |  |  | Quoted |  |  |  |  |  |  |
|  |  |  |  | Prices |  |  | Significant |  |  |  |
|  |  |  |  | (unadjusted) |  |  | Other |  |  | Significant |
|  | Total |  |  | in Active |  |  | Observable |  |  | Unobservable |
|  | Carrying |  |  | Markets |  |  | Inputs |  |  | Inputs |
|  | Value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
|  | (In thousands) |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 114,615 |  |  | $ | 94,707 |  |  | $ | 19,908 |  |  | $ | — |
Short-term investments |  |  | 319,963 |  |  |  | — |  |  |  | 319,963 |  |  |  | — |
Long-term investments |  |  | 87,416 |  |  |  | — |  |  |  | 87,416 |  |  |  | — |
Total assets |  | $ | 521,994 |  |  | $ | 94,707 |  |  | $ | 427,287 |  |  | $ | — |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 295,394 |  |  | $ | 295,394 |  |  | $ | — |  |  | $ | — |
Short-term investments |  |  | 275,304 |  |  |  | — |  |  |  | 275,304 |  |  |  | — |
Long-term investments |  |  | 29,829 |  |  |  | — |  |  |  | 29,829 |  |  |  | — |
Total assets |  | $ | 600,527 |  |  | $ | 295,394 |  |  | $ | 305,133 |  |  | $ | — |
Summary of Available-for-Sale Securities | The following table summarizes the available-for-sale securities:
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  |  |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
|  | (In thousands) |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | 180,927 |  |  | $ | — |  |  | $ | (101 | ) |  | $ | 180,826 |
Corporate bonds |  |  | 47,604 |  |  |  | — |  |  |  | (72 | ) |  |  | 47,532 |
US Treasury |  |  | 176,012 |  |  |  | — |  |  |  | (548 | ) |  |  | 175,464 |
Federal bonds |  |  | 23,500 |  |  |  | — |  |  |  | (35 | ) |  |  | 23,465 |
|  | $ | 428,043 |  |  | $ | — |  |  | $ | (756 | ) |  | $ | 427,287 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | 160,657 |  |  | $ | 149 |  |  | $ | — |  |  | $ | 160,806 |
Corporate bonds |  |  | 47,150 |  |  |  | 62 |  |  |  | — |  |  |  | 47,212 |
US Treasury |  |  | 68,111 |  |  |  | 46 |  |  |  | — |  |  |  | 68,157 |
Federal bonds |  |  | 28,998 |  |  |  | — |  |  |  | (40 | ) |  |  | 28,958 |
|  | $ | 304,916 |  |  | $ | 257 |  |  | $ | (40 | ) |  | $ | 305,133 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 + Details
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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 -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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