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Investments (Tables)
 6 Months Ended
Jun. 30, 2024
Investments [Abstract]  
Schedule of Cash, Cash Equivalents and Marketable Securities

The following tables summarize our cash equivalents and marketable securities measured at fair value on a recurring basis as of June 30, 2024 (in thousands):

 

 

Fair Value Hierarchy

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

 

Cash Equivalents

 

 

Marketable Securities

 

Money market funds

Level 2

 

$

2,321

 

 

$

–

 

 

$

–

 

 

$

2,321

 

 

$

2,321

 

 

$

–

 

Time deposits

Level 2

 

 

29,609

 

 

 

15

 

 

 

(2

)

 

 

29,622

 

 

 

–

 

 

 

29,622

 

Commercial paper

Level 2

 

 

40,866

 

 

 

21

 

 

 

(5

)

 

 

40,882

 

 

 

–

 

 

 

40,882

 

Asset backed securities

Level 2

 

 

2,635

 

 

 

1

 

 

 

(1

)

 

 

2,635

 

 

 

–

 

 

 

2,635

 

Government bonds

Level 2

 

 

37,835

 

 

 

–

 

 

 

(41

)

 

 

37,794

 

 

 

16,923

 

 

 

20,871

 

Corporate debt securities

Level 2

 

 

123,017

 

 

 

84

 

 

 

(88

)

 

 

123,013

 

 

 

–

 

 

 

123,013

 

Total

 

 

$

236,283

 

 

$

121

 

 

$

(137

)

 

$

236,267

 

 

$

19,244

 

 

$

217,023

 
Summary of Scheduled Maturity for Marketable Securities

The following table shows the fair value of the Company’s cash equivalents and marketable securities, by contractual maturity, as of June 30, 2024 (in thousands):

 

 

June 30, 2024

 

Due in 1 year or less

$

215,231

 

Due in 1 year through 5 years

 

21,036

 

Total

$

236,267

 
Schedule of Investments Fair Values and Gross Unrealized Losses

The following table shows fair values and gross unrealized losses recorded to accumulated other comprehensive income, aggregated by category and the length of time that individual securities have been in a continuous loss position as of June 30, 2024 (in thousands):

 

 

Less than 12 months

 

 

12 Months or Greater

 

 

Total

 

 

Fair Value

 

 

Unrealized Loss

 

 

Fair Value

 

 

Unrealized Loss

 

 

Fair Value

 

 

Unrealized Loss

 

Time deposits

$

3,990

 

 

$

(2

)

 

$

–

 

 

$

–

 

 

$

3,990

 

 

$

(2

)

Commercial paper

 

9,526

 

 

 

(5

)

 

 

–

 

 

 

–

 

 

 

9,526

 

 

 

(5

)

Asset backed securities

 

1,704

 

 

 

(1

)

 

 

–

 

 

 

–

 

 

 

1,704

 

 

 

(1

)

Government bonds

 

26,868

 

 

 

(41

)

 

 

–

 

 

 

–

 

 

 

26,868

 

 

 

(41

)

Corporate debt securities

 

48,586

 

 

 

(88

)

 

 

–

 

 

 

–

 

 

 

48,586

 

 

 

(88

)

Total

$

90,674

 

 

$

(137

)

 

$

–

 

 

$

–

 

 

$

90,674

 

 

$

(137

)