XML 54 R26.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

 

 

 

December 31, 2024

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

 

6,489

 

 

$

 

 

 

$

 

 

 

$

 

6,489

 

Money market funds

 

 

 

118,955

 

 

 

 

 

 

 

 

 

 

 

 

118,955

 

Commercial paper

 

 

 

 

 

 

 

109,432

 

 

 

 

 

 

 

 

109,432

 

Corporate bonds

 

 

 

 

 

 

 

43,409

 

 

 

 

 

 

 

 

43,409

 

U.S. government treasury bills

 

 

 

144,741

 

 

 

 

 

 

 

 

 

 

 

 

144,741

 

Government-sponsored enterprise securities

 

 

 

 

 

 

 

11,714

 

 

 

 

 

 

 

 

11,714

 

Total

 

$

 

270,185

 

 

$

 

164,555

 

 

$

 

 

 

$

 

434,740

 

 

 

 

December 31, 2023

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

 

3,570

 

 

$

 

 

 

$

 

 

 

$

 

3,570

 

Money market funds

 

 

 

59,280

 

 

 

 

 

 

 

 

 

 

 

 

59,280

 

Commercial paper

 

 

 

 

 

 

 

105,017

 

 

 

 

 

 

 

 

105,017

 

Corporate bonds

 

 

 

 

 

 

 

12,627

 

 

 

 

 

 

 

 

12,627

 

U.S. government treasury bills

 

 

 

60,012

 

 

 

 

 

 

 

 

 

 

 

 

60,012

 

Government-sponsored enterprise securities

 

 

 

 

 

 

 

21,606

 

 

 

 

 

 

 

 

21,606

 

Total

 

$

 

122,862

 

 

$

 

139,250

 

 

$

 

 

 

$

 

262,112

 

Schedule of Financial Assets Reconciliation

 

 

December 31, 2024

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Estimated

 

(in thousands)

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

 

142,706

 

 

$

 

4

 

 

$

 

 

 

$

 

142,710

 

Short-term marketable securities (<12 months to maturity)

 

 

 

219,062

 

 

 

 

185

 

 

 

 

(57

)

 

 

 

219,190

 

Long-term marketable securities (>12 months to maturity)

 

 

 

72,829

 

 

 

 

53

 

 

 

 

(42

)

 

 

 

72,840

 

Total

 

$

 

434,597

 

 

$

 

242

 

 

$

 

(99

)

 

$

 

434,740

 

 

 

December 31, 2023

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Estimated

 

(in thousands)

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

 

68,844

 

 

$

 

 

 

$

 

 

 

$

 

68,844

 

Short-term marketable securities (<12 months to maturity)

 

 

 

169,966

 

 

 

 

176

 

 

 

 

(8

)

 

 

 

170,134

 

Long-term marketable securities (>12 months to maturity)

 

 

 

22,955

 

 

 

 

179

 

 

 

 

 

 

 

 

23,134

 

Total

 

$

 

261,765

 

 

$

 

355

 

 

$

 

(8

)

 

$

 

262,112