Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis included the following as of June 30, 2023 (in thousands):

	Using
			Significant
	Quoted Prices		Other		Significant
	in Active		Observable		Unobservable		Total Fair
	Markets		Inputs		Inputs		Value as of
	(Level 1)		(Level 2)		(Level 3)		June 30, 2023
Cash equivalents:
Money market funds	$	146,425	$	—	$	—	$	146,425
Long-term investment:
Failed Auction Security		—		—		2,591		2,591

Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 2022 (in thousands):

	Using
			Significant
	Quoted Prices		Other		Significant
	in Active		Observable		Unobservable		Total Fair
	Markets		Inputs		Inputs		Value as of
	(Level 1)		(Level 2)		(Level 3)		December 31, 2022
Cash equivalents:
Money market funds	$	143,274	$	—	$	—	$	143,274
Long-term investment:
Failed Auction Security		—		—		2,622		2,622

Change in Estimated Fair Values Calculated for Investment Valued on Recurring Basis Utilizing Level 3 Inputs

The change in the estimated fair value calculated for the investment valued on a recurring basis utilizing Level 3 inputs (i.e., the Failed Auction Security) for the six months ended June 30, 2023 was as follows (in thousands):

Balance at the beginning of the period	$	2,622
Loss included in Other comprehensive income		(31	)
Balance at the end of the period	$	2,591