Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024 (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, 2024
Cash equivalents:
Money market funds	$	227,455	$	—	$	—	$	227,455
Long-term investment:
Failed Auction Security		—		—		2,600		2,600

Assets and liabilities measured at fair value on a recurring basis included the following as of December 31, 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)		December 31, 2023
Cash equivalents:
Money market funds	$	209,489	$	—	$	—	$	209,489
Long-term investment:
Failed Auction Security		—		—		2,530		2,530

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 three months ended June 30, 2024 was as follows (in thousands):

Balance at the beginning of the period	$	2,530
Gain included in Other comprehensive loss		70
Balance at the end of the period	$	2,600