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Cash and Cash Equivalents, and Investments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents, and Investments

The following tables present our cash and cash equivalents, and investments’ fair value level classification, adjusted cost, unrealized gain, unrealized loss and fair value as of December 31, 2023 and 2022 (in thousands):

			December 31, 2023
			Fair Value Level						Adjusted Cost						Unrealized Gain						Unrealized Loss						Fair Value
Cash and cash equivalents:
Cash									$	45,050					$	—					$	—					$	45,050
Money market funds			Level 1						90,707						—						—						90,707
Total cash and cash equivalents									$	135,757					$	—					$	—					$	135,757
Short-term investments:
Corporate debt securities			Level 2						$	69,548					$	—					$	(170)					$	69,378
U.S. treasury securities			Level 1						25,734						—						(114)						25,620
Agency bonds			Level 2						99,505						—						(246)						99,259
Total short-term investments									$	194,787					$	—					$	(530)					$	194,257
Long-term investments:
Corporate debt securities			Level 2						$	191,467					$	898					$	(213)					$	192,152
U.S. treasury securities			Level 1						57,287						165						(57)						57,395
Total long-term investments									$	248,754					$	1,063					$	(270)					$	249,547

			December 31, 2022
			Fair Value Level						Adjusted Cost						Unrealized Gain						Unrealized Loss						Fair Value
Cash and cash equivalents:
Cash									$	33,532					$	—					$	—					$	33,532
Money market funds			Level 1						440,145						—						—						440,145
Total cash and cash equivalents									$	473,677					$	—					$	—					$	473,677
Short-term investments:
Commercial paper			Level 2						$	11,744					$	—					$	(29)					$	11,715
Corporate debt securities			Level 2						491,459						—						(4,130)						487,329
U.S. treasury securities			Level 1						85,271						—						(342)						84,929
Total short-term investments									$	588,474					$	—					$	(4,501)					$	583,973
Long-term investments:
Corporate debt securities			Level 2						$	125,735					$	158					$	(909)					$	124,984
U.S. treasury securities			Level 1						$	30,633					$	122					$	—					$	30,755
Agency bonds			Level 2						60,635						—						(141)						60,494
Total long-term investments									$	217,003					$	280					$	(1,050)					$	216,233

Schedule of Realized Gain (Loss) Related to Investments

The following table presents the gross realized gain and loss related to our investments (in thousands):

									Years Ended December 31,
															2023						2022						2021
Realized gain															$	346					$	64					$	84
Realized loss															(2,452)						(9,739)						(262)
Realized (loss)/gain on sale of investments															$	(2,106)					$	(9,675)					$	(178)

Schedule of Available-for-sale Securities Reconciliation

The following table presents our cash equivalents and investments' adjusted cost and fair value by contractual maturity as of December 31, 2023 (in thousands):

			December 31, 2023
			Cost						Fair Value
Due within one year			$	194,787					$	194,257
Due after one year through three years			248,754						249,547
Investments not due at a single maturity date			90,707						90,707
Total			$	534,248					$	534,511

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- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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- Definition

Tabular disclosure of the components of cash, cash equivalents, and investments.

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- Definition

Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

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