Fair Value Measurements (Tables)

12 Months Ended

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


	As of December 31, 2023								As of December 31, 2022
	Level I		Level II		Level III		Fair Value		Level I		Level II		Level III		Fair Value
Financial assets:
Cash equivalents:
Money market funds	$	164,848	$	—	$	—	$	164,848	$	278,022	$	—	$	—	$	278,022
Marketable securities:
US Treasury securities	—		243,162		—		243,162		—		158,956		—		158,956
US Government Agency securities	—		10,013		—		10,013		—		55,900		—		55,900
Commercial paper	—		—		—		—		—		13,679		—		13,679
Corporate bonds	—		—		—		—		—		7,803		—		7,803
Prepaid expenses and other current assets:
Forward foreign exchange contracts	—		3,408		—		3,408		—		—		—		—
Long-term marketable securities:
US Treasury securities	—		211,063		—		211,063		—		—		—		—
Long-term other assets:
Forward foreign exchange contracts	—		519		—		519		—		—		—		—
Financial liabilities:
Accrued expenses and other short-term liabilities:
Forward foreign exchange contracts	—		(7)		—		(7)		—		(7,447)		—		(7,447)
Long-term other liabilities:
Forward foreign exchange contracts	—		(1,624)		—		(1,624)		—		(2,060)		—		(2,060)
Total financial assets (liabilities)	$	164,848	$	466,534	$	—	$	631,382	$	278,022	$	226,831	$	—	$	504,853