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

3 Months Ended

Mar. 31, 2024

Cash and Cash Equivalents [Abstract]

Schedule of Cash, 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 March 31, 2024 and December 31, 2023 (in thousands):

			March 31, 2024
			Fair Value Level						Adjusted Cost						Unrealized Gain						Unrealized Loss						Fair Value
Cash and cash equivalents:
Cash									$	46,996					$	—					$	—					$	46,996
Money market funds			Level 1						96,751						—						—						96,751
Total cash and cash equivalents									$	143,747					$	—					$	—					$	143,747
Short-term investments:
Corporate debt securities			Level 2						$	117,099					$	—					$	(425)					$	116,674
U.S. treasury securities			Level 1						66,670						—						(357)						66,313
Agency bonds			Level 2						64,207						—						(181)						64,026
Total short-term investments									$	247,976					$	—					$	(963)					$	247,013
Long-term investments:
Corporate debt securities			Level 2						$	169,302					$	287					$	(631)					$	168,958
U.S. treasury securities			Level 1						53,107						—						(400)						52,707
Total long-term investments									$	222,409					$	287					$	(1,031)					$	221,665

			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

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 March 31, 2024 (in thousands):

			Adjusted Cost						Fair Value
Due within one year			$	247,976					$	247,013
Due after one year through three years			222,409						221,665
Investments not due at a single maturity date			96,751						96,751
Total			$	567,136					$	565,429

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