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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

				December 31, 2024
		Valuation Hierarchy		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	31,680			$	—			$	—			$	31,680
Government bonds		Level 2			15,167				—				—				15,167
Total cash equivalents					46,847				—				—				46,847
Short-term investments:
Government bonds		Level 2			262,424				98				(3	)			262,519
Total short-term investments					262,424				98				(3	)			262,519
				$	309,271			$	98			$	(3	)		$	309,366

				December 31, 2023
		Valuation Hierarchy		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	143,933			$	—			$	—			$	143,933
Government bonds		Level 2			72,689				—				—				72,689
Total cash equivalents					216,622				—				—				216,622
Short-term investments:
Government bonds		Level 2			34,596				10				—				34,606
Total short-term investments					34,596				10				—				34,606
				$	251,218			$	10			$	—			$	251,228

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- 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

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- References

No definition available.

+ Details

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