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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Classifications of Fair Value Hierarchy

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.

Schedule 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 follows (in thousands):

			December 31, 2023
			Carrying Value						Level 1						Level 2						Level 3						Total
Assets
Cash equivalents
Money market funds			$	11,576					$	11,576					$	—					$	—					$	11,576
Commercial paper			86,090						—						86,090						—						86,090
Agency bonds			10,942						—						10,942						—						10,942
Short-term marketable securities
Agency bonds			5,930						—						5,930						—						5,930
Total assets measured at fair value			$	114,538					$	11,576					$	102,962					$	—					$	114,538

			December 31, 2022
			Carrying Value						Level 1						Level 2						Level 3						Total
Assets
Cash equivalents
Money market funds			$	13,015					$	13,015					$	—					$	—					$	13,015
Commercial paper			112,268						—						112,268						—						112,268
Agency bonds			1,342						—						1,342						—						1,342
Total assets measured at fair value			$	126,625					$	13,015					$	113,610					$	—					$	126,625

Schedule of Contractual Maturities

The following table summarizes our cash equivalents and available-for-sale debt securities by contractual maturity (in thousands):

			As of December 31, 2023												As of December 31, 2022
			Amortized Cost						Fair Value						Amortized Cost						Fair Value
Due in 1 year			$	114,577					$	114,538					$	126,664					$	126,625

Schedule 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 loss and summarized as follows (in thousands):

			December 31, 2023
			Amortized Cost						Unrealized Gains						Unrealized Losses						Fair Value
Cash equivalents
Money market funds			$	11,576					$	—					$	—					$	11,576
Commercial paper			86,132						—						(42)						86,090
Agency bonds			10,940						2						—						10,942
Short-term marketable securities
Agency bonds			5,929						1						—						5,930
Total			$	114,577					$	3					$	(42)					$	114,538

			December 31, 2022
			Amortized Cost						Unrealized Gains						Unrealized Losses						Fair Value
Cash equivalents
Money market funds			$	13,015					$	—					$	—					$	13,015
Commercial paper			112,307						—						(39)						112,268
Agency bonds			1,342						—						—						1,342
Total			$	126,664					$	—					$	(39)					$	126,625

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Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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