XML 39 R27.htm IDEA: XBRL DOCUMENT
v3.24.2

Investments and fair value measurements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Investments on Condensed Consolidated Balance Sheets | The Company’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis within the fair value hierarchy are as follows (in thousands):
As of June 30, 2024 |  | Level 1 |  | Level 2 |  | Level 3
Current assets: |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |
Money market funds |  | $ | 234,681 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |
U.S. government securities |  | $ | — |  |  | $ | 148,559 |  |  | $ | — |
Non-current assets: |  |  |  |  |  |
Strategic investments |  | $ | — |  |  | $ | — |  |  | $ | — |
Non-current liabilities: |  |  |  |  |  |
Cash settled stock appreciation rights |  | $ | — |  |  | $ | — |  |  | $ | 16 |
As of December 31, 2023 |  | Level 1 |  | Level 2 |  | Level 3
Current assets: |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |
Money market funds |  | $ | 266,692 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |
U.S. government securities |  | $ | — |  |  | $ | 171,372 |  |  | $ | — |
Non-current assets: |  |  |  |  |  |
Strategic investments |  | $ | — |  |  | $ | — |  |  | $ | 10,311 |
Non-current liabilities: |  |  |  |  |  |
Cash settled stock appreciation rights |  | $ | — |  |  | $ | — |  |  | $ | 48 |
Schedule of Investments on Condensed Consolidated Balance Sheets | The Company’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis within the fair value hierarchy are as follows (in thousands):
As of June 30, 2024 |  | Level 1 |  | Level 2 |  | Level 3
Current assets: |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |
Money market funds |  | $ | 234,681 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |
U.S. government securities |  | $ | — |  |  | $ | 148,559 |  |  | $ | — |
Non-current assets: |  |  |  |  |  |
Strategic investments |  | $ | — |  |  | $ | — |  |  | $ | — |
Non-current liabilities: |  |  |  |  |  |
Cash settled stock appreciation rights |  | $ | — |  |  | $ | — |  |  | $ | 16 |
As of December 31, 2023 |  | Level 1 |  | Level 2 |  | Level 3
Current assets: |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |
Money market funds |  | $ | 266,692 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |
U.S. government securities |  | $ | — |  |  | $ | 171,372 |  |  | $ | — |
Non-current assets: |  |  |  |  |  |
Strategic investments |  | $ | — |  |  | $ | — |  |  | $ | 10,311 |
Non-current liabilities: |  |  |  |  |  |
Cash settled stock appreciation rights |  | $ | — |  |  | $ | — |  |  | $ | 48 |
Schedule of the Changes in the Fair Value of Level 3 Financial Instruments | A summary of the changes in the fair value of Level 3 financial instruments, of which vesting and remeasurement of stock appreciation rights (SARs) and impairment of strategic investments are recognized in the consolidated statements of operations, is as follows (in thousands):
| Stock Appreciation Rights |  | Strategic Investments
Balance— March 31, 2024 | $ | 22 |  |  | $ | 10,311 |
Vesting and remeasurement of SARs | (6) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (10,311) |
Balance— June 30, 2024 | $ | 16 |  |  | $ | — |
Balance— March 31, 2023 | $ | 264 |  |  | $ | 12,104 |
Vesting and remeasurement of SARs | 19 |  |  | — |
Exercises of SARs | (253) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (1,793) |
Balance— June 30, 2023 | $ | 30 |  |  | $ | 10,311 |
Balance— December 31, 2023 | $ | 48 |  |  | $ | 10,311 |
Vesting and remeasurement of SARs | (25) |  |  | — |
Exercises of SARs | (7) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (10,311) |
Balance— June 30, 2024 | $ | 16 |  |  | $ | — |
Balance— December 31, 2022 | $ | 462 |  |  | $ | 12,104 |
Vesting and remeasurement of SARs | (179) |  |  | — |
Exercises of SARs | (253) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (1,793) |
Balance— June 30, 2023 | $ | 30 |  |  | $ | 10,311 |
Schedule of the Changes in the Fair Value of Level 3 Financial Instruments | A summary of the changes in the fair value of Level 3 financial instruments, of which vesting and remeasurement of stock appreciation rights (SARs) and impairment of strategic investments are recognized in the consolidated statements of operations, is as follows (in thousands):
| Stock Appreciation Rights |  | Strategic Investments
Balance— March 31, 2024 | $ | 22 |  |  | $ | 10,311 |
Vesting and remeasurement of SARs | (6) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (10,311) |
Balance— June 30, 2024 | $ | 16 |  |  | $ | — |
Balance— March 31, 2023 | $ | 264 |  |  | $ | 12,104 |
Vesting and remeasurement of SARs | 19 |  |  | — |
Exercises of SARs | (253) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (1,793) |
Balance— June 30, 2023 | $ | 30 |  |  | $ | 10,311 |
Balance— December 31, 2023 | $ | 48 |  |  | $ | 10,311 |
Vesting and remeasurement of SARs | (25) |  |  | — |
Exercises of SARs | (7) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (10,311) |
Balance— June 30, 2024 | $ | 16 |  |  | $ | — |
Balance— December 31, 2022 | $ | 462 |  |  | $ | 12,104 |
Vesting and remeasurement of SARs | (179) |  |  | — |
Exercises of SARs | (253) |  |  | — |
Unrealized loss on strategic investments | — |  |  | (1,793) |
Balance— June 30, 2023 | $ | 30 |  |  | $ | 10,311 |

X
- 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://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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: 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 3: 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 4: 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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + 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 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration