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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Fair Value Measurements | We classify the inputs used to measure fair value into the following hierarchy:
Level 1 | Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2 | Unadjusted quoted prices in active markets for similar assets or liabilities; unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability.
Level 3 | Unobservable inputs for the asset or liability.
Summary of Financial Assets Measured at Fair Value on a Recurring Basis | Our financial assets measured at fair value on a recurring basis are summarized below by their classification within the fair value hierarchy as of the dates presented below (in thousands):
| March 31, 2021
| Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |
Money market funds | $ | 5,602 |  |  | $ | 5,602 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,602 |
Commercial paper | 14,322 |  |  | — |  |  | 14,322 |  |  | — |  |  | 14,322 |
Short-term marketable securities |  |  |  |  |  |  |  |  |
Agency bonds | 26,826 |  |  | — |  |  | 26,826 |  |  | — |  |  | 26,826 |
Commercial paper | 7,096 |  |  | — |  |  | 7,096 |  |  | — |  |  | 7,096 |
Total assets measured at fair value | $ | 53,846 |  |  | $ | 5,602 |  |  | $ | 48,244 |  |  | $ | — |  |  | $ | 53,846 |
| December 31, 2020 |  |  |
| Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 4,207 |  |  | $ | 4,207 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,207 |  |  |  |  |  |  |  |  |  |
Short-term marketable securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency bonds | 35,423 |  |  | — |  |  | 35,423 |  |  | — |  |  | 35,423 |  |  |  |  |  |  |  |  |  |
Commercial paper | 14,197 |  |  | — |  |  | 14,197 |  |  | — |  |  | 14,197 |  |  |  |  |  |  |  |  |  |
Total assets measured at fair value | $ | 53,827 |  |  | $ | 4,207 |  |  | $ | 49,620 |  |  | $ | — |  |  | $ | 53,827 |  |  |  |  |  |  |  |  |  |
Summary of Contractual Maturities | The following table summarizes our cash equivalents and available-for-sale debt securities by contractual maturity (in thousands):
| As of March 31, 2021
| Amortized Cost |  | Fair Value
Due in 1 year | $ | 53,827 |  |  | $ | 53,846 |
Summary of Unrealized Gains and Losses | Unrealized gains and losses on available-for-sale debt securities that are not credit related are included in accumulated other comprehensive income and summarized as follows as of March 31, 2021 (in thousands):
| Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value
Cash equivalents |  |  |  |  |  |  |
Money market funds | $ | 5,602 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,602 |
Commercial paper | 14,323 |  |  | — |  |  | (1) |  |  | 14,322 |
Short-term marketable securities |  |  |  |  |  |  |
Agency bonds | 26,805 |  |  | 21 |  |  | — |  |  | 26,826 |
Commercial paper | 7,097 |  |  | — |  |  | (1) |  |  | 7,096 |
Total | $ | 53,827 |  |  | $ | 21 |  |  | $ | (2) |  |  | $ | 53,846 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
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