Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2022 (in thousands):

	June 30, 2022
	Level 1		Level 2		Level 3		Aggregate fair value
Assets:
U.S. government treasury securities		4,499		—		—		4,499
Fixed income securities		—		20,861		—		20,861
Asset backed securities		—		15,649		—		15,649
Total assets	$	4,499	$	36,510	$	—	$	41,009

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2021 (in thousands):

	December 31, 2021
	Level 1		Level 2		Level 3		Aggregate Fair Value
Assets:
Money market funds	$	3,180	$	—	$	—	$	3,180
Fixed income securities		—		54,224		—		54,224
Asset backed securities		—		28,351		—		28,351
Total assets	$	3,180	$	82,575	$	—	$	85,755

Contractual Maturities of Available for Sale Securities

The contractual maturities of available-for-sale securities as of June 30, 2022 are as follows (in thousands):

Within one year	$	20,707
Within one to five years		15,803
Total contractual maturities	$	36,510