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

6 Months Ended

Jun. 30, 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 June 30, 2024 and December 31, 2023 (in thousands):


	June 30, 2024
	Fair Value Level	Adjusted Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash and cash equivalents:
Cash		$	46,551	$	—	$	—	$	46,551

Money market funds	Level 1	86,517		—		—		86,517

Total cash and cash equivalents		$	133,068	$	—	$	—	$	133,068
Short-term investments:

Corporate debt securities	Level 2	$	121,988	$	—	$	(391)	$	121,597
U.S. treasury securities	Level 1	66,138		—		(247)		65,891
Agency bonds	Level 2	25,020		—		(112)		24,908
Total short-term investments		$	213,146	$	—	$	(750)	$	212,396
Long-term investments:
Corporate debt securities	Level 2	$	208,171	$	144	$	(951)	$	207,364
U.S. treasury securities	Level 1	52,830		—		(269)		52,561

Total long-term investments		$	261,001	$	144	$	(1,220)	$	259,925


	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 June 30, 2024 (in thousands):


	Adjusted Cost		Fair Value
Due within one year	$	213,146	$	212,396
Due after one year through three years	261,001		259,925
Investments not due at a single maturity date	86,517		86,517
Total	$	560,664	$	558,838