Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, by Balance Sheet Grouping

The following tables summarize financial assets and liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated balance sheets as of March 31, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	March 31, 2024
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)		Significant Unobservable Inputs (Level 3 Inputs)		Total
Assets:
Money market funds	$	16,450	$	—	$	—	$	16,450
U.S. treasury securities	—		201,756		—		201,756
Commercial paper	—		3,486		—		3,486
Investment loan receivable (See Note 7)	—		—		7,000		7,000
Total assets	$	16,450	$	205,242	$	7,000	$	228,692
Liabilities:
Contingent consideration	$	—	$	—	$	618	$	618
Total liabilities	$	—	$	—	$	618	$	618

	December 31, 2023
	Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs)		Significant Other Observable Inputs (Level 2 Inputs)		Significant Unobservable Inputs (Level 3 Inputs)		Total
Assets:
Money market funds	$	54,269	$	—	$	—	$	54,269
U.S. treasury securities	—		179,721		—		179,721
Total assets	$	54,269	$	179,721	$	—	$	233,990
Liabilities:
Contingent consideration	$	—	$	—	$	597	$	597
Total liabilities	$	—	$	—	$	597	$	597

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following table represents the key inputs used in the fair value calculations:

	March 31, 2024		December 31, 2023
Risk free interest rate	5.00	%	4.80	%
Projected year of payment	2025		2025
Revenue volatility	10.0	%	11.0	%
Discount rate	7.60	%	7.70	%

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

A rollforward of the fair value measurements of the contingent consideration liability for the three months ended March 31, 2024 is as follows:

Balance as of December 31, 2023	$	597
Change in fair value and expense recognized for service period rendered	21
Balance as of March 31, 2024	618