Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Changes in Level 3 Liabilities Measured at Fair Value

The following table presents changes in Level 3 liabilities relating to Private Warrants measured at fair value (in thousands):

	Private Warrants
Balance as of December 31, 2023	$	1,069
Change in fair value of outstanding warrants	(985)
Balance as of June 30, 2024	$	84

Schedule of Financial Assets and Liabilities Subject to Fair Value Measurements on a Recurring Basis and the Level of Inputs Used

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (in thousands):

	Fair Value Measured as of June 30, 2024:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	40,627	$	—	$	—	$	40,627
Total cash equivalents	$	40,627	$	—	$	—	$	40,627
Marketable investments:
U.S. treasury securities	$	18,136	$	—	$	—	$	18,136
U.S. agency and government sponsored securities	—		1,542		—		1,542
Commercial paper	—		9,876		—		9,876
Corporate bonds	—		75,845		—		75,845
Certificate of deposit	—		500		—		500
Marketable equity investments	3,090		—		—		3,090
Total marketable investments	$	21,226	$	87,763	$	—	$	108,989
Liabilities:
Private Warrants	$	—	$	—	$	84	$	84

	Fair Value Measured as of December 31, 2023:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	101,842	$	—	$	—	$	101,842
Commercial paper	—		497		—		497
Corporate bonds	—		1,097		—		1,097
Total cash equivalents	$	101,842	$	1,594	$	—	$	103,436
Marketable investments:
U.S. treasury securities	$	86,784	$	—	$	—	$	86,784
U.S. agency and government sponsored securities	—		2,732		—		2,732
Commercial paper	—		9,647		—		9,647
Corporate bonds	—		43,809		—		43,809
Marketable equity investments	7,755		—		—		7,755
Total marketable investments	$	94,539	$	56,188	$	—	$	150,727
Liabilities:
Private Warrants	$	—	$	—	$	1,069	$	1,069