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Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the fair value hierarchy classification of such fair values as of December 31, 2023 and 2022 (in thousands):

 

 

Fair Value Measurements at

 

 

 

December 31, 2023

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

197,756

 

 

$

197,756

 

 

$

 

 

$

 

Money market funds

 

 

185,990

 

 

 

185,990

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

5,731

 

 

 

 

 

 

5,731

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

23,008

 

 

 

 

 

 

23,008

 

 

 

 

Corporate debt securities

 

 

885,358

 

 

 

 

 

 

885,358

 

 

 

 

Certificates of deposit

 

 

47,282

 

 

 

 

 

 

47,282

 

 

 

 

Government-sponsored enterprise securities

 

 

195,131

 

 

 

 

 

 

195,131

 

 

 

 

Commercial paper

 

 

155,409

 

 

 

 

 

 

155,409

 

 

 

 

Total

 

$

1,695,665

 

 

$

383,746

 

 

$

1,311,919

 

 

$

-

 

 

 

 

Fair Value Measurements at

 

 

 

December 31, 2022

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

159,295

 

 

$

159,295

 

 

$

 

 

$

 

Money market funds

 

 

17,766

 

 

 

17,766

 

 

 

 

 

 

 

Corporate debt securities

 

 

2,149

 

 

 

 

 

 

2,149

 

 

 

 

Commercial paper

 

 

32,675

 

 

 

 

 

 

32,675

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

1,222,379

 

 

 

 

 

 

1,222,379

 

 

 

 

Certificates of deposit

 

 

92,417

 

 

 

 

 

 

92,417

 

 

 

 

Government-sponsored enterprise securities

 

 

79,045

 

 

 

 

 

 

79,045

 

 

 

 

Commercial paper

 

 

262,722

 

 

 

 

 

 

262,722

 

 

 

 

Other non-current assets

 

 

2,212

 

 

 

 

 

 

 

 

 

2,212

 

Total

 

$

1,870,660

 

 

$

177,061

 

 

$

1,691,387

 

 

$

2,212