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Investments | 12 Months Ended
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Dec. 31, 2024
Investments [Abstract] |
Investments | Note 3: Investments Cash equivalents and marketable securities are measured at fair value and within Level 2 in the fair value hierarchy, because we use quoted market prices to the extent available or alternative pricing sources and models utilizing market observable inputs to determine fair value. The following tables summarize our cash equivalents and marketable securities measured at fair value on a recurring basis (in thousands):
As of December 31, 2024 |
| Fair Value Hierarchy |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Cash Equivalents |  |  | Marketable Securities |
Money market funds | Level 2 |  | $ | 5,979 |  |  | $ | – |  |  | $ | – |  |  | $ | 5,979 |  |  | $ | 5,979 |  |  | $ | – |
Time deposits | Level 2 |  |  | 6,725 |  |  |  | 12 |  |  |  | – |  |  |  | 6,737 |  |  |  | – |  |  |  | 6,737 |
Commercial paper | Level 2 |  |  | 34,850 |  |  |  | 46 |  |  |  | (2 | ) |  |  | 34,894 |  |  |  | 3,147 |  |  |  | 31,747 |
Asset backed securities | Level 2 |  |  | 6,905 |  |  |  | 30 |  |  |  | – |  |  |  | 6,935 |  |  |  | – |  |  |  | 6,935 |
Government bonds | Level 2 |  |  | 80,509 |  |  |  | 62 |  |  |  | – |  |  |  | 80,571 |  |  |  | 46,848 |  |  |  | 33,723 |
Corporate debt securities | Level 2 |  |  | 179,882 |  |  |  | 190 |  |  |  | (42 | ) |  |  | 180,030 |  |  |  | – |  |  |  | 180,030 |
Total |  |  | $ | 314,850 |  |  | $ | 340 |  |  | $ | (44 | ) |  | $ | 315,146 |  |  | $ | 55,974 |  |  | $ | 259,172 |
As of December 31, 2023 |
| Fair Value Hierarchy |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Cash Equivalents |  |  | Marketable Securities |
Money market funds | Level 2 |  | $ | 4,450 |  |  | $ | – |  |  | $ | – |  |  | $ | 4,450 |  |  | $ | 4,450 |  |  | $ | – |
Time deposits | Level 2 |  |  | 23,628 |  |  |  | 73 |  |  |  | – |  |  |  | 23,701 |  |  |  | 330 |  |  |  | 23,371 |
Commercial paper | Level 2 |  |  | 126,307 |  |  |  | 143 |  |  |  | (28 | ) |  |  | 126,422 |  |  |  | 996 |  |  |  | 125,426 |
Government bonds | Level 2 |  |  | 23,014 |  |  |  | 15 |  |  |  | (13 | ) |  |  | 23,016 |  |  |  | – |  |  |  | 23,016 |
Corporate debt securities | Level 2 |  |  | 132,323 |  |  |  | 314 |  |  |  | (7 | ) |  |  | 132,630 |  |  |  | 2,142 |  |  |  | 130,488 |
Total |  |  | $ | 309,722 |  |  | $ | 545 |  |  | $ | (48 | ) |  | $ | 310,219 |  |  | $ | 7,918 |  |  | $ | 302,301 |
The following table shows the fair value of the Company’s cash equivalents and marketable securities, by contractual maturity, as of December 31, 2024 (in thousands):
| December 31, 2024 |
Due in 1 year or less | $ | 285,061 |
Due in 1 year through 5 years |  | 30,085 |
Total | $ | 315,146 |
The following table shows fair values and gross unrealized losses recorded to accumulated other comprehensive loss, aggregated by category and the length of time that individual securities have been in a continuous loss position (in thousands):
As of December 31, 2024 |
| Less than 12 months |  |  | 12 Months or Greater |  |  | Total |
| Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Commercial paper | $ | 3,869 |  |  | $ | (2 | ) |  | $ | – |  |  | $ | – |  |  | $ | 3,869 |  |  | $ | (2 | )
Corporate debt securities |  | 32,443 |  |  |  | (42 | ) |  |  | – |  |  |  | – |  |  |  | 32,443 |  |  |  | (42 | )
Total | $ | 36,312 |  |  | $ | (44 | ) |  | $ | – |  |  | $ | – |  |  | $ | 36,312 |  |  | $ | (44 | )
As of December 31, 2023 |
| Less than 12 months |  |  | 12 Months or Greater |  |  | Total |
| Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Time deposits | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |
Commercial paper |  | 52,783 |  |  |  | (28 | ) |  |  | – |  |  |  | – |  |  |  | 52,783 |  |  |  | (28 | )
Government bonds |  | 9,986 |  |  |  | (13 | ) |  |  | – |  |  |  | – |  |  |  | 9,986 |  |  |  | (13 | )
Corporate debt securities |  | 16,078 |  |  |  | (7 | ) |  |  | – |  |  |  | – |  |  |  | 16,078 |  |  |  | (7 | )
Total | $ | 78,847 |  |  | $ | (48 | ) |  | $ | – |  |  | $ | – |  |  | $ | 78,847 |  |  | $ | (48 | )
The Company holds debt securities of companies with high credit quality and has determined that there was no material change in the credit risk of its debt securities during the year ended December 31, 2024. As such, the Company has no t recognized an allowance for credit losses related to marketable debt securities during the years ended December 31, 2024, 2023 and 2022. As of December 31, 2024, there were 21 investment positions that were in an unrealized loss position.

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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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