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Cash, Cash Equivalents, and Financial Instruments | 3 Months Ended
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Mar. 31, 2024
Cash and Cash Equivalents [Abstract] |
Cash, Cash Equivalents, and Financial Instruments | Cash, Cash Equivalents, and Financial Instruments The following table shows the Company’s cash, cash equivalents, and marketable securities by significant investment category as of March 31, 2024 and December 31, 2023:
|  | As of March 31, 2024
|  | Adjusted Cost |  | Allowance for Credit Losses |  | Total Unrealized Gains |  | Total Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable Securities
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 134,285 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 134,285 |  |  | $ | 134,285 |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | 44,707 |  |  | — |  |  | — |  |  | — |  |  | 44,707 |  |  | 44,707 |  |  | — |
Subtotal |  | 44,707 |  |  | — |  |  | — |  |  | — |  |  | 44,707 |  |  | 44,707 |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | 102,544 |  |  | — |  |  | 159 |  |  | — |  |  | 102,703 |  |  | — |  |  | 102,703 |
Subtotal |  | 102,544 |  |  | — |  |  | 159 |  |  | — |  |  | 102,703 |  |  | — |  |  | 102,703 |
Total |  | $ | 281,536 |  |  | $ | — |  |  | $ | 159 |  |  | $ | — |  |  | $ | 281,695 |  |  | $ | 178,992 |  |  | $ | 102,703 |
|  | As of December 31, 2023
|  | Adjusted Cost |  | Allowance for Credit Losses |  | Total Unrealized Gains |  | Total Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable Securities
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 44,809 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 44,809 |  |  | $ | 44,809 |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | 97,378 |  |  | — |  |  | — |  |  | — |  |  | 97,378 |  |  | 97,378 |  |  | — |
Subtotal |  | 97,378 |  |  | — |  |  | — |  |  | — |  |  | 97,378 |  |  | 97,378 |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | 102,411 |  |  | — |  |  | 541 |  |  | — |  |  | 102,952 |  |  | — |  |  | 102,952 |
Subtotal |  | 102,411 |  |  | — |  |  | 541 |  |  | — |  |  | 102,952 |  |  | — |  |  | 102,952 |
Total |  | $ | 244,598 |  |  | $ | — |  |  | $ | 541 |  |  | $ | — |  |  | $ | 245,139 |  |  | $ | 142,187 |  |  | $ | 102,952 |
Marketable securities held as of March 31, 2024 generally mature over the next twenty-four months. As of March 31, 2024 and December 31, 2023 all balances were in a gain position, therefore there are no allowances for credit losses recorded for the periods presented

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- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
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