Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis at June 30, 2019 and December 31, 2018 by level within the fair value hierarchy. Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

	As of June 30, 2019
	Quoted		Significant
	Prices in		Other		Significant
	Active		Observable		Unobservable
	Markets		Inputs		Inputs		Total Fair
	(Level 1)		(Level 2)		(Level 3)		Value
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	225,291		—		—	$	225,291
Short-term investments:
U.S. government and agency securities		—		3,496		—		3,496
Total financial assets	$	225,291	$	3,496	$	—	$	228,787
Liabilities:
Contingent consideration		—		—	$	550	$	550
Total financial liabilities	$	—	$	—	$	550	$	550

	At December 31, 2018
	Quoted		Significant
	Prices in		Other		Significant
	Active		Observable		Unobservable
	Markets		Inputs		Inputs		Total Fair
	(Level 1)		(Level 2)		(Level 3)		Value
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	47,258		—		—	$	47,258
U.S. treasury securities		—		—				—
U.S. government and agency securities		—		2,272		—		2,272
Short-term investments:
U.S. treasury securities		—		38,809		—		38,809
U.S. government and agency securities		—		6,732		—		6,732
Total financial assets	$	47,258	$	47,813	$	—	$	95,071

Summary of Changes in Level 3 Financial Instruments

The following table summarizes the changes in Level 3 financial instruments (in thousands).

	Amount
Fair Value at December 31, 2018	$	—
Additions from acquisition		550
Foreign currency translation		—
Change in fair value		—
Payments made during the year		—
Balance at June 30, 2019	$	550