Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets Measured on Recurring Basis

The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2024 (in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	40,253	$	—	$	—	$	40,253
Short-term investments
US government and agency securities	33,461		—				33,461
Commercial paper	—		13,922		—		13,922
Total	$	73,714	$	13,922	$	—	$	87,636

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

	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	35,375	$	—	$	—	$	35,375
Commercial paper	—		—		—		—
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

Schedule of Debt Securities, Available-for-Sale

The following tables summarize the Company's short-term investments on the consolidated balance sheets as of June 30, 2024 and December 31, 2023 (in thousands):

	June 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term investments
US government and agency securities	$	33,492	$	1	$	(32)	$	33,461
Commercial paper	13,936		—		(14)		13,922
Total	$	47,428	$	1	$	(46)	$	47,383

	December 31, 2023
	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

Schedule of Cash and Cash Equivalents

The following tables summarize the Company’s cash and cash equivalents on the consolidated balance sheets as of June 30, 2024 and December 31, 2023 (in thousands):

	June 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash	$	11,406	$	—	$	—	$	11,406
Cash equivalents
Money market funds	40,253		—		—		40,253
Total	$	51,659	$	—	$	—	$	51,659

	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