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Fair Value Measurement
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
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 December 31, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
December 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$6,376 $— $— $6,376 
     U.S. treasury securities— 186,693 — 186,693 
     Commercial paper$— $14,918 $— 14,918 
     Convertible debt securities (See Note 7)$— $— $3,593 3,593 
     Investment loan receivables (See Note 7)$— $— $7,676 7,676 
Total assets$6,376 $201,611 $11,269 $219,256 
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 
Cash equivalents include money market funds and commercial paper with original maturities of 90 days or less from the date of purchase. The fair value measurement of the money market funds are based on quoted market prices in active markets for identical assets and, therefore, these assets are recorded at fair value on a recurring basis and classified as Level 1 in the fair value hierarchy. The Company’s investments primarily consist of U.S. treasury securities. The fair value measurement of these assets and the Company’s commercial paper are based on significant other observable inputs and, therefore, these assets are recorded at fair value on a recurring basis and classified as Level 2 in the fair value hierarchy.
As of December 31, 2024, the Company measured its investment loan receivables (see Note 7 “Other Assets”), its convertible debt securities (See Note 7 “Other Assets”) and its contingent consideration associated with the acquisition of Datos Inc. on a recurring basis using significant unobservable inputs (Level 3). As of December 31, 2023, the Company measured its contingent consideration associated with the acquisition of Datos, Inc. (See Note 9 “Acquisitions, Intangible Assets, and Goodwill”) on a recurring basis using significant unobservable inputs (Level 3).
Convertible Debt Securities
The Company records its convertible debt securities at fair value on the purchase date. The Company determines the fair value of these investments using the Black-Scholes Merton model. Each reporting period thereafter, these investments are revalued and increases or decreases in their fair values are recorded as adjustments to other income, net within the consolidated statements of operations and comprehensive income (loss) to reflect the gains and losses. Changes in the fair value of these investments can result from changes in the estimated enterprise value of the issuers, the likelihoods and methods of such conversions, and other market factors. Significant judgment is employed in determining the appropriateness of these assumptions as of the purchase date and for each subsequent period. Accordingly, changes in any of the assumptions described above can materially impact the amount of gain or loss the Company records in any given period.
A rollforward of the fair value measurements of the convertible debt securities for the years ended December 31, 2023 and 2024 is as follows:
Balance as of December 31, 2022
$3,652 
Additional investment in convertible debt securities326 
Change in fair value included in other income, net3,552 
Conversion of convertible debt securities (See Note 9)(7,530)
Balance as of December 31, 2023
— 
Investment in convertible debt security3,000 
Change in fair value included in other income, net593 
Balance as of December 31, 2024
$3,593 
Investment Loan Receivables
The Company elected to account for its investment loan receivables by utilizing the fair value option. The Company records investment loan receivables at their fair value on the agreement date. Each reporting period thereafter, these receivables are revalued and increases or decreases in their fair values are recorded as an adjustment to other income, net within the consolidated statements of operations and comprehensive income (loss). The Company generally determines the fair value using the discounted cash flow method. The significant assumptions used to estimate the fair value include the interest rate, risk-free rate, expected repayment date, equity value, equity volatility, expected timing of exercise, and the credit spread assumption specific to the investment loan. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period.
A rollforward of the fair value measurements of the investment loan receivable for the year ended December 31, 2024 is as follows:
Balance as of December 31, 2023
$— 
Initial funding of investment loan receivable7,000 
Additional funding of investment loan receivable757 
Change in fair value included in other income, net(81)
Balance as of December 31, 2024
$7,676 
Contingent consideration
The Company records contingent consideration resulting from a business combination at its fair value on the acquisition date. The Company generally determines the fair value of the contingent consideration using the Monte Carlo simulation model. Each reporting period thereafter, these obligations are revalued and increases or decreases in their fair values are recorded as an adjustment to other income, net within the consolidated statements of operations and comprehensive income (loss). Changes in the fair value of the contingent consideration can result from changes in assumed discount periods and rates, and from changes pertaining to the estimated or actual achievement of the defined milestones. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period. Accordingly, future business and economic conditions, as well as changes in any of the assumptions described above, can materially impact the amount of contingent consideration expense the Company records in any given period.
The total estimated fair value of the contingent consideration payable was $0 and $597 as of December 31, 2024 and December 31, 2023, respectively. As of December 31, 2023, the primary inputs to the fair value of the contingent consideration were the risk free rate, the discount rate, and the revenue volatility. As of December 31, 2024, it was not probable that the payment would be earned.
Changes in the estimated fair value of the Datos contingent consideration payable will be recognized in other income, net. A rollforward of the fair value measurements of the contingent consideration liability for the year ended December 31, 2024 is as follows:
Balance as of December 31, 2023$597 
Change in fair value included in other income, net(597)
Balance as of December 31, 2024$—