Fair Value Measurement

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

Note 3. Fair Value Measurement

The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. The following tables set forth the fair value of the Company’s financial assets, which consist of cash equivalents and marketable securities measured and recognized at fair value (in thousands):

		June 30, 2024
	Fair Value Hierarchy Level	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Financial assets included in cash and cash    equivalents:
Money market funds	Level 1	$	111,437	$	—	$	—	$	111,437
Total		$	111,437	$	—	$	—	$	111,437

		December 31, 2023
	Fair Value Hierarchy Level	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Financial assets included in cash and cash    equivalents:
Money market funds	Level 1	$	174,429	$	—	$	—	$	174,429
Total		$	174,429	$	—	$	—	$	174,429

The Company evaluates transfers between levels at the end of each reporting period. There were no transfers between Levels 1, 2 and 3 during the three and six months ended June 30, 2024 and 2023. As of June 30, 2024 and December 31, 2023, there were no financial instruments classified as Level 2 or Level 3. There have been no realized gains or losses recognized for the periods presented. Unrealized gains and losses are included in accumulated other comprehensive loss within stockholders' equity on the balance sheet.

There were no investments as of June 30, 2024 and December 31, 2023, as such, no allowance for credit losses has been recognized as of June 30, 2024. During the three and six months ended June 30, 2024 and 2023, the Company did not recognize any impairment losses related to investments.