Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 (in thousands):

Description	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
March 31, 2024
Assets:
Cash and cash equivalents	$	212,047	$	212,047	$	—	$	—
Marketable securities:
U.S. government agency securities and treasuries	—		—		—		—
Due from factor:
Beneficiary interest in factored invoices	1,120		—		—		1,120
Total	$	213,167	$	212,047	$	—	$	1,120
December 31, 2023
Assets:
Cash and cash equivalents	$	221,755	$	221,755	$	—	$	—
Marketable securities:
U.S. government agency securities and treasuries	—		—		—		—
Receivables and other current assets:
Beneficiary interest in factored invoices	560		—		—		560
Total	$	222,315	$	221,755	$	—	$	560

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table shows a reconciliation of the beginning and ending balances for Level 3 financial liabilities measured at fair value on a recurring basis for the three months ended March 31, 2024:

	For the three months ended March 31,
	2024
Level 3 financial assets, beginning of period	$	560
Beneficiary interest obtained in transferred invoices	1,680
Proceeds from previously transferred invoices	(1,120)
Level 3 financial assets, end of period	$	1,120