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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Summary of Carrying Amounts and Estimated Fair Values of the Company's Financial Instruments | The Company’s financial assets measured at fair value on a recurring basis were as follows (in thousands):
|  | Total |  | Fair value measurement as of December 31, 2023
|  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 12,671 |  |  | $ | 12,671 |  |  | $ | — |  |  | $ | — |
U.S. Treasury securities |  | 199,121 |  |  | 199,121 |  |  | — |  |  | — |
Total |  | $ | 211,792 |  |  | $ | 211,792 |  |  | $ | — |  |  | $ | — |
|  | Total |  | Fair value measurement as of December 31, 2022
|  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 35,915 |  |  | $ | 35,915 |  |  | $ | — |  |  | $ | — |
U.S. Treasury securities |  | 151,511 |  |  | 151,511 |  |  | — |  |  | — |
Total |  | $ | 187,426 |  |  | $ | 187,426 |  |  | $ | — |  |  | $ | — |
Summary of Fair Value Assets and Liabilities Measured on Recurring Basis | The following table provides the fair value of financial assets that are not measured at fair value:
|  | December 31, 2023 |  | December 31, 2022
|  | Carrying value |  | Fair value |  | Carrying value |  | Fair value
Liabilities: |  |  |  |  |  |  |  |
Debt |  | $ | 144,045 |  |  | $ | 144,045 |  |  | $ | 147,433 |  |  | $ | 147,433 |
Total |  | $ | 144,045 |  |  | $ | 144,045 |  |  | $ | 147,433 |  |  | $ | 147,433 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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