Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value On A Recurring Basis

Assets measured at fair value on a recurring basis consist of the following as of June 30, 2023 (in thousands):

			Fair Value Measurements at Reporting Date Using
	June 30, 2023		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds	$	62,951	$	62,951	$	—	$	—
U.S. treasury bills	39,776		39,776		—		—
Available-for-sale securities:
Tax-exempt municipal securities	14,471		—		14,471		—
Corporate debt securities	3,053		—		3,053		—
Total assets at fair value on a recurring basis	$	120,251	$	102,727	$	17,524	$	—

Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2022 (in thousands):

			Fair Value Measurements at Reporting Date Using
	December 31, 2022		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds	$	217	$	217	$	—	$	—
Available-for-sale securities:
Tax-exempt municipal securities	15,347		—		15,347		—
Corporate debt securities	6,932		—		6,932		—
Total assets at fair value on a recurring basis	$	22,496	$	217	$	22,279	$	—

Schedule of Changes in Fair Value of Level 3 Liability

Changes in the fair value of the Company’s Level 3 liabilities during the six months ended June 30, 2022 are as follows (in thousands):

	As of June 30, 2022
Balance as of the beginning of period	$	658
Amounts paid	(658)
Other adjustments to fair value	—
Balance at end of period	$	—