Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

	March 31, 2019
	Level 1		Level 2		Level 3		Total
Financial Assets:
Money market funds	$	30,305	$	—	$	—	$	30,305
U.S. government and agency securities		—		56,228		—		56,228
Corporate debt securities		—		66,667		—		66,667
Commercial paper		—		90,369		—		90,369
Total	$	30,305	$	213,264	$	—	$	243,569
Financial Liabilities:
Contingent consideration related to acquisition	$	—	$	—	$	978	$	978
Total	$	—	$	—	$	978	$	978

	December 31, 2018
	Level 1		Level 2		Level 3		Total
Financial Assets:
Money market funds	$	22,082	$	—	$	—	$	22,082
U.S. government and agency securities		—		59,001		—		59,001
Corporate debt securities		—		70,964		—		70,964
Commercial paper		—		89,702		—		89,702
Total	$	22,082	$	219,667	$	—	$	241,749
Financial Liabilities:
Contingent consideration related to acquisition	$	—	$	—	$	998	$	998
Total	$	—	$	—	$	998	$	998

Summary of Changes in Fair Value of Level 3 Financial Liabilities

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities (in thousands):

	Contingent Consideration
Balance at December 31, 2018	$	998
Foreign currency impact on contingent consideration		(20	)
Balance at March 31, 2019	$	978

Summary of Estimated Value of Cash, Cash Equivalents and Marketable Securities and Gross Unrealized Holding Gains and Losses

The following tables summarize the estimated value of the Company’s cash, cash equivalents and marketable securities and the gross unrealized holding gains and losses (in thousands):

	March 31, 2019
	Amortized cost		Unrealized gains		Unrealized losses			Estimated Fair Value
Cash and cash equivalents:
Cash	$	23,339	$	—	$	—		$	23,339
Money market funds		30,305		—		—			30,305
Commercial paper		55,790		—		(10	)		55,780
U.S. government and agency securities		2,493		—		—			2,493
Corporate debt securities		1,197		—		—			1,197
Total cash and cash equivalents	$	113,124	$	—	$	(10	)	$	113,114
Marketable securities:
U.S. government and agency securities	$	53,735	$	48	$	(48	)	$	53,735
Corporate debt securities		65,450		26		(6	)		65,470
Commercial paper		34,590		3		(4	)		34,589
Total marketable securities	$	153,775	$	77	$	(58	)	$	153,794

	December 31, 2018
	Amortized cost		Unrealized gains		Unrealized losses			Estimated Fair Value
Cash and cash equivalents:
Cash	$	36,124	$	—	$	—		$	36,124
Money market funds		22,082		—		—			22,082
Commercial paper		62,413		—		—			62,413
Corporate debt securities		5,694		—		(3	)		5,691
Total cash and cash equivalents	$	126,313	$	—	$	(3	)	$	126,310
Marketable securities:
U.S. government and agency securities	$	59,127	$	16	$	(142	)	$	59,001
Corporate debt securities		65,319		3		(49	)		65,273
Commercial paper		27,289		—		—			27,289
Total marketable securities	$	151,735	$	19	$	(191	)	$	151,563

Summary of Amortized Cost and Estimated Fair Value of Available-for-Sale Marketable Securities by Contractual Maturity

The amortized cost and estimated fair value of the Company’s available-for-sale marketable securities by contractual maturity are summarized below as of March 31, 2019 (in thousands):

	Amortized cost		Estimated FairValue
Mature in one year or less	$	153,775	$	153,794
Mature after one year through two years		—		—
Total available-for-sale marketable securities	$	153,775	$	153,794