Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022 by level within the fair value hierarchy (in thousands):


	As of March 31, 2023
	(unaudited)								As of December 31, 2022
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Financial assets:
Cash equivalents:
Money market funds	$	162,911	$	—	$	—	$	162,911	$	278,022	$	—	$	—	$	278,022


Marketable securities:
US Treasury securities	205,694		—		—		205,694		158,956		—		—		158,956
Agencies	55,888		—		—		55,888		55,900		—		—		55,900
Commercial paper	—		14,819		—		14,819		—		13,679		—		13,679
Corporate bonds	—		4,434		—		4,434		—		7,803		—		7,803
Prepaid expenses and other current assets:
Forward foreign exchange contracts	—		18		—		18		—		—		—		—


Financial liabilities:
Accrued expenses and other short-term liabilities:
Forward foreign exchange contracts	—		(10,189)		—		(10,189)		—		(7,447)		—		(7,447)
Long-term other liabilities:
Forward foreign exchange contracts	—		(3,181)		—		(3,181)		—		(2,060)		—		(2,060)
Total financial assets (liabilities), net	$	424,493	$	5,901	$	—	$	430,394	$	492,878	$	11,975	$	—	$	504,853