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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Summary of Financial Assets Measured and Recorded at Fair Value on Recurring Basis | The following table presents our financial assets measured and recorded at fair value on a recurring basis using the above input categories:
|  | As of September 30, 2020
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 215,449 |  |  | $ | — |  |  | $ | — |  |  | $ | 215,449 |
U.S. government agencies |  | 32,987 |  |  | — |  |  | — |  |  | 32,987 |
Commercial paper |  | — |  |  | 32,252 |  |  | — |  |  | 32,252 |
Corporate bonds |  | — |  |  | 20,349 |  |  | — |  |  | 20,349 |
Agency bonds |  | — |  |  | 3,998 |  |  | — |  |  | 3,998 |
Asset-backed securities |  | — |  |  | 2,436 |  |  | — |  |  | 2,436 |
Total assets |  | $ | 248,436 |  |  | $ | 59,035 |  |  | $ | — |  |  | $ | 307,471 |
Liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts designated as cash flow hedges |  | $ | — |  |  | $ | 88 |  |  | $ | — |  |  | $ | 88 |
Total liabilities |  | $ | — |  |  | $ | 88 |  |  | $ | — |  |  | $ | 88 |
|  | As of December 31, 2019
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 106,781 |  |  | $ | — |  |  | $ | — |  |  | $ | 106,781 |
Corporate bonds |  | — |  |  | 60,878 |  |  | — |  |  | 60,878 |
U.S. government agencies |  | 36,979 |  |  | — |  |  | — |  |  | 36,979 |
Commercial paper |  | — |  |  | 19,966 |  |  | — |  |  | 19,966 |
Agency bonds |  | — |  |  | 12,242 |  |  | — |  |  | 12,242 |
Asset-backed securities |  | — |  |  | 8,980 |  |  | — |  |  | 8,980 |
Total assets |  | $ | 143,760 |  |  | $ | 102,066 |  |  | $ | — |  |  | $ | 245,826 |
Summary of Investments Classified as Available-For-Sale | Our investments, which are all classified as available-for-sale, consisted of the following:
|  | As of September 30, 2020
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
U.S. government agencies |  | 32,984 |  |  | 3 |  |  | — |  |  | 32,987 |
Commercial paper |  | 32,252 |  |  | — |  |  | — |  |  | 32,252 |
Corporate bonds |  | 20,287 |  |  | 69 |  |  | (7) |  |  | 20,349 |
Agency bonds |  | 3,998 |  |  | — |  |  | — |  |  | 3,998 |
Asset-backed securities |  | 2,436 |  |  | — |  |  | — |  |  | 2,436 |
Total assets |  | $ | 91,957 |  |  | $ | 72 |  |  | $ | (7) |  |  | $ | 92,022 |
|  | As of December 31, 2019
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 36,880 |  |  | $ | 99 |  |  | $ | — |  |  | $ | 36,979 |
Corporate bonds |  | 60,803 |  |  | 77 |  |  | (2) |  |  | 60,878 |
Commercial paper |  | 19,965 |  |  | 1 |  |  | — |  |  | 19,966 |
Agency bonds |  | 12,198 |  |  | 44 |  |  | — |  |  | 12,242 |
Asset-backed securities |  | 8,986 |  |  | 1 |  |  | (7) |  |  | 8,980 |
Total assets |  | $ | 138,832 |  |  | $ | 222 |  |  | $ | (9) |  |  | $ | 139,045 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
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