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Fair Value Measurements (Tables)

3 Months Ended

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

X

- 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

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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

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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