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

9 Months Ended

Sep. 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 September 30, 2024 and December 31, 2023 (in thousands):

			September 30, 2024
			Fair Value Level						Adjusted Cost						Unrealized Gain						Unrealized Loss						Fair Value
Cash and cash equivalents:
Cash									$	52,523					$	—					$	—					$	52,523
Money market funds			Level 1						99,550						—						—						99,550
Total cash and cash equivalents									$	152,073					$	—					$	—					$	152,073
Short-term investments:
Corporate debt securities			Level 2						$	118,386					$	53					$	(47)					$	118,392
U.S. treasury securities			Level 1						65,596						32						(13)						65,615
Agency bonds			Level 2						25,009						—						(13)						24,996
Total short-term investments									$	208,991					$	85					$	(73)					$	209,003
Long-term investments:
Corporate debt securities			Level 2						$	214,391					$	2,482					$	(8)					$	216,865
U.S. treasury securities			Level 1						52,548						748						—						53,296
Total long-term investments									$	266,939					$	3,230					$	(8)					$	270,161

			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 September 30, 2024 (in thousands):

			Adjusted Cost						Fair Value
Due within one year			$	208,991					$	209,003
Due after one year through three years			266,939						270,161
Investments not due at a single maturity date			99,550						99,550
Total			$	575,480					$	578,714

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