Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Assets measured on a recurring basis

The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy for the year ended December 31, 2023 (in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	35,375	$	—	$	—	$	35,375
Short-term investments
US government and agency securities	25,083		11,526		—		36,609
Commercial paper	—		21,479		—		21,479
Total	$	60,458	$	33,005	$	—	$	93,463

The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy for the year ended December 31, 2022 (in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	41,213	$	—	$	—	$	41,213
Commercial paper	—		8,980		—		8,980
Short-term investments
US government and agency securities	24,944		11,663		—		36,607
Commercial paper	—		14,733		—		14,733
Total	$	66,157	$	35,376	$	—	$	101,533

Debt Securities, Available-for-Sale

The following table summarizes the Company's short-term investments on the consolidated balance sheets as of December 31, 2023 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term investments
US government and agency securities	$	36,568	$	48	$	(7)	$	36,609
Commercial paper	21,477		11		(9)		21,479
Total	$	58,045	$	59	$	(16)	$	58,088

The following table summarizes the Company's short-term investments on the consolidated balance sheets as of December 31, 2022 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term investments
US government and agency securities	$	36,595	$	18	$	(6)	$	36,607
Commercial paper	14,733		—		—		14,733
Total	$	51,328	$	18	$	(6)	$	51,340

Schedule of Cash and Cash Equivalents

The following table summarizes the Company’s cash and cash equivalents on the consolidated balance sheets as of December 31, 2023 (in thousands):

	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash	$	15,381	$	—	$	—	$	15,381
Cash equivalents
Money market funds	35,375		—		—		35,375
Total	$	50,756	$	—	$	—	$	50,756

The following table summarizes the Company’s cash and cash equivalents on the consolidated balance sheets as of December 31, 2022 (in thousands):

	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash	$	11,804	$	—	$	—	$	11,804
Cash equivalents
Money market funds	41,213		—		—		41,213
Commercial paper	8,980		—		—		8,980
Total	$	61,997	$	—	$	—	$	61,997