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Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
June 30, 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$19,272 $— $— $19,272 
     U.S. treasury securities— 161,906 — 161,906 
     Commercial paper— 19,939 — 19,939 
     Investment loan receivable (See Note 7)— — 7,083 7,083 
Total assets$19,272 $181,845 $7,083 $208,200 
Liabilities:
Contingent consideration$— $— $751 $751 
Total liabilities$— $— $751 $751 
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:
June 30, 2024
December 31, 2023
Risk free interest rate5.00 %4.80 %
Projected year of payment20252025
Revenue volatility10.0 %11.0 %
Discount rate7.60 %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 six months ended June 30, 2024 is as follows:
Balance as of December 31, 2023
$597 
Change in fair value and expense recognized for service period rendered21 
Balance as of March 31, 2024618 
Change in fair value and expense recognized for service period rendered133 
Balance as of June 30, 2024751