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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value

The Company evaluated its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. The following tables summarize the Company’s financial assets measured at fair value as of September 30, 2024 and December 31, 2023:

			Amortized cost or carrying value						Unrealized gains						Unrealized losses						Fair value measurements on a recurring basis September 30, 2024
																					Level 1						Level 2						Level 3						Total
			(In thousands)
Financial assets:
Cash and cash equivalents:
Money market account			$	41,259					$	—					$	—					$	41,259					$	—					$	—					$	41,259
Commercial paper			24,887						—						—						24,887						—						—						24,887
Total included in cash and cash equivalents			66,146						—						—						66,146						—						—						66,146
Marketable securities:
Commercial paper			4,853						114						—						4,967						—						—						4,967
Total marketable securities			4,853						114						—						4,967						—						—						4,967
Total financial assets			$	70,999					$	114					$	—					$	71,113					$	—					$	—					$	71,113

			Amortized cost or carrying value						Unrealized gains						Unrealized losses						Fair value measurements on a recurring basis December 31, 2023
																					Level 1						Level 2						Level 3						Total
			(In thousands)
Financial assets:
Cash and cash equivalents:
Money market account			$	120,724					$	—					$	—					$	120,724					$	—					$	—					$	120,724
Total included in cash and cash equivalents			120,724						—						—						120,724						—						—						120,724
Marketable securities:
Time deposits			20,000						—						—						20,000						—						—						20,000
Commercial paper			1,422						66						—						1,488						—						—						1,488
Total marketable securities			21,422						66						—						21,488						—						—						21,488
Total financial assets			$	142,146					$	66					$	—					$	142,212					$	—					$	—					$	142,212

Schedule of Contractual Maturities of Marketable Securities

The Company classifies its marketable securities as current assets as they are available for current operating needs. The following table summarizes the contractual maturities of marketable securities as of September 30, 2024:

			Amortized cost						Aggregate fair value
			(In thousands)
Financial assets:
Less than one year			$	4,853					$	4,967
Total			$	4,853					$	4,967

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- References

No definition available.

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- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

+ References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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

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