Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table sets forth the Company’s assets and liabilities that were measured at fair value as of June 30, 2022 and December 31, 2021 by level within the fair value hierarchy (in thousands):


	As of June 30, 2022
	(unaudited)								As of December 31, 2021
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Financial assets:
Cash equivalents:
Money market funds	$	580,758	$	—	$	—	$	580,758	$	414,942	$	—	$	—	$	414,942
Commercial paper	—		4,785		—		4,785		—		—		—		—
Corporate bonds	—		1,199		—		1,199		—		—		—		—
Marketable securities:
US Treasury securities	17,958		—		—		17,958		—		—		—		—
Commercial paper	—		8,378		—		8,378		—		—		—		—
Corporate bonds	—		2,399		—		2,399		—		—		—		—
Prepaid expenses and other current assets:
Forward foreign exchange contracts	—		135		—		135		—		6,083		—		6,083


Financial liabilities:
Accrued expenses and other short-term liabilities:
Forward foreign exchange contracts	—		(6,824)		—		(6,824)		—		(62)		—		(62)
Long-term other liabilities:
Forward foreign exchange contracts	—		(1,076)		—		(1,076)		—		—		—		—
Total financial assets (liabilities)	$	598,716	$	8,996	$	—	$	607,712	$	414,942	$	6,021	$	—	$	420,963