v3.22.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables set forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy (in thousands):
December 31, 2022
Level 1Level 2Level 3Total
Financial Assets
Money market funds$48,884 $— $— $48,884 
Certificates of deposit— 4,169 — 4,169 
Cash equivalents48,884 4,169 — 53,053 
Commercial paper— 63,483 — 63,483 
Agency debt securities— 5,778 — 5,778 
U.S. Treasury and government debt securities— 12,752 — 12,752 
Marketable securities— 82,013 — 82,013 
Total Financial Assets$48,884 $86,182 $— $135,066 
December 31, 2021
Level 1Level 2Level 3Total
Financial Assets
Money market funds$65,311 $— $— $65,311 
Certificates of deposit— 5,942 — 5,942 
Cash equivalents65,311 5,942 — 71,253 
Commercial paper— 50,954 — 50,954 
U.S. Treasury and government debt securities— 26,167 — 26,167 
Marketable securities— 77,121 — 77,121 
Equity investment (1)
5,948 — — 5,948 
Non-current assets5,948 — — 5,948 
Total Financial Assets$71,259 $83,063 $— $154,322 

There were no transfers between Level 1 and Level 2 fair value measurement categories during the years ended December 31, 2022 and 2021.
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(1)See Note 2 to the Company’s consolidated financial statements “Basis of Presentation and Summary of Significant Accounting Policies — Impairment of Equity Investment.”