Investments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities, Available-for-sale

The Company’s investments in debt securities consisted of the following as of September 30, 2024 and December 31, 2023 (in thousands):

	September 30, 2024
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	24,326	$	12	$	—	$	24,338
Commercial paper	9,354		—		—		9,354
Corporate bonds	67,504		234		(5)		67,733
Certificate of deposit	500		—		—		500
Total debt securities	$	101,684	$	246	$	(5)	$	101,925
Included in cash and cash equivalents	$	20,381	$	—	$	—	$	20,381
Included in marketable securities	$	81,303	$	246	$	(5)	$	81,544

	December 31, 2023
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	86,764	$	20	$	—	$	86,784
U.S. agency and government sponsored securities	2,732		—		—		2,732
Commercial paper	10,144		—		—		10,144
Corporate bonds	44,924		9		(27)		44,906
Total debt securities	$	144,564	$	29	$	(27)	$	144,566
Included in cash and cash equivalents	$	1,595	$	—	$	(1)	$	1,594
Included in marketable securities	$	142,969	$	29	$	(26)	$	142,972

Schedule of Gross Unrealized Losses and the Fair Value for Marketable Investments

The following table presents the gross unrealized losses and the fair value for those debt securities that were in an unrealized loss position for less than 12 months as of September 30, 2024 and December 31, 2023 (in thousands):

	September 30, 2024				December 31, 2023
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	—	$	13,056	$	—	$	—
U.S. agency and government sponsored securities	—		—		—		741
Corporate bonds	(5)		7,082		(27)		30,621
Total	$	(5)	$	20,138	$	(27)	$	31,362

Schedule of Equity Investments Included in Marketable Securities

The Company’s equity investments consisted of the following as of September 30, 2024 and December 31, 2023 (in thousands):

	Condensed Consolidated Balance Sheets Location	September 30, 2024		December 31, 2023
Money market funds(1)	Cash and cash equivalents	$	60,792	$	101,842
Marketable equity investments(1)	Marketable securities	2,865		7,755
Investment in non-marketable securities(2)	Other non-current assets	10,000		10,000
Non-marketable equity investment measured using the measurement alternative(2)	Other non-current assets	—		4,000
Total		$	73,657	$	123,597

(1)    Investments with readily determinable fair values.

(2)    Investment in privately held company without readily determinable fair value.