Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30, 2024:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	60,792	$	—	$	—	$	60,792
U.S. treasury securities	15,199		—		—		15,199

Commercial paper	—		5,182		—		5,182
Total cash equivalents	$	75,991	$	5,182	$	—	$	81,173
Marketable investments:
U.S. treasury securities	$	9,139	$	—	$	—	$	9,139

Commercial paper	—		4,172		—		4,172
Corporate bonds	—		67,733		—		67,733
Certificate of deposit	—		500		—		500

Marketable equity investments	2,865		—		—		2,865
Total marketable investments	$	12,004	$	72,405	$	—	$	84,409
Liabilities:
Derivative liability	$	—	$	—	$	40,074	$	40,074
Private Warrants	$	—	$	—	$	19	$	19
Total liabilities	$	—	$	—	$	40,093	$	40,093


	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