Investments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Investments and Fair Value Measurements

Cash, cash equivalents and investments

As of September 30, 2024 and December 31, 2023, our cash and debt investments are classified as follows (in thousands):

	September 30, 2024								December 31, 2023
			Gross		Gross						Gross		Gross
	Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
	Cost		Gain		(Loss)		Value		Cost		Gain		(Loss)		Value
Classified as:
Cash and restricted cash	$	38,791	$	—	$	—	$	38,791	$	50,114	$	—	$	—	$	50,114
Investments (available-for-sale):
Certificates of deposit 1		—		—		—		—		2,160		—		(20)		2,140
Total cash, restricted cash and investments	$	38,791	$	—	$	—	$	38,791	$	52,274	$	—	$	(20)	$	52,254
Contractual maturities on investments:
Due within 1 year 2	$	—					$	—	$	2,160					$	2,140
	$	—					$	—	$	2,160					$	2,140

1. Certificates of deposit with original maturities of more than three months.

2. Classified as “Short-term investments” in our condensed consolidated balance sheets.

Fair value and gross unrealized losses related to available-for-sale securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2024 (in thousands):

In Loss Position

In Loss Position

Total In

< 12 months

> 12 months

Loss Position

Gross

Gross

Gross

Fair

Unrealized

Fair

Unrealized

Fair

Unrealized

As of September 30, 2024

Value

(Losses)

Value

(Losses)

Value

(Losses)

Investments:

Certificates of deposit

$

—

$

—

$

—

$

—

$

—

$

—

Total in loss position

$

—

$

—

$

—

$

—

$

—

$

—

The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2023 (in thousands):

	In Loss Position				In Loss Position				Total In
	< 12 months				> 12 months				Loss Position
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
As of December 31, 2023	Value		(Loss)		Value		(Loss)		Value		(Loss)
Investments:
Certificates of deposit	$	—	$	—	$	2,140	$	(20)	$	2,140	$	(20)
Total in loss position	$	—	$	—	$	2,140	$	(20)	$	2,140	$	(20)

Summary of financial assets and liabilities measured at fair value on a recurring basis

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of September 30, 2024 (in thousands):

			Quoted Prices in				Significant
			Active Markets of		Significant Other		Unobservable
	Balance as of		Identical Assets		Observable Inputs		Inputs
	September 30, 2024		(Level 1)		(Level 2)		(Level 3)
Assets:
Investments:
Certificates of deposit	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of December 31, 2023 (in thousands):

			Quoted Prices in				Significant
			Active Markets of		Significant Other		Unobservable
	Balance as of		Identical Assets		Observable Inputs		Inputs
	December 31, 2023		(Level 1)		(Level 2)		(Level 3)
Assets:
Investments:
Certificates of deposit	$	2,140	$	—	$	2,140	$	—
Total	$	2,140	$	—	$	2,140	$	—