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Fair Value Measurements
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Items Measured at Fair Value on a Recurring Basis
Money Market Funds—We hold cash in a U.S. treasury securities money market fund. The funds are classified as cash and cash equivalents on our condensed consolidated balance sheet as of September 30, 2024 and December 31, 2023 and represent Level 1 assets on the fair value hierarchy.
The following tables summarize, for assets measured at fair value, the respective fair value and classification by level of input within the fair value hierarchy as of September 30, 2024 and December 31, 2023. We had no liabilities measured at fair value as of September 30, 2024 and December 31, 2023.
September 30, 2024
(in thousands)Level 1Level 2Level 3Total
Assets
Money market funds$50,000 $— $— $50,000 
$50,000 $— $— $50,000 
December 31, 2023
(in thousands)Level 1Level 2Level 3Total
Assets
Money market funds$82,000 $— $— $82,000 
$82,000 $— $— $82,000 
Items Measured at Fair Value on a Non-Recurring Basis
Equity Investments—Our equity investment in NFW represents a non-marketable equity security in a privately held company that does not have a readily determinable fair value and is accounted for under the measurement alternative in ASC 321. The investment is accounted for at cost and adjusted based on observable price changes from orderly transactions for identical or similar investments of the same issuer or impairment. During the three and nine months ended September 30, 2024 and 2023, there were no observable price changes or impairments for our NFW investment. The carrying value of our investment was $2.0 million as of September 30, 2024 and December 31, 2023.