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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Subject to Fair Value Measurements on Recurring Basis and Level of Inputs Used in Measurements

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows (in thousands):

 

 

 

September 30, 2020

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

28,832

 

 

$

28,832

 

 

$

 

 

$

 

U.S. treasuries

 

 

9,999

 

 

 

 

 

 

9,999

 

 

 

 

Total cash equivalents

 

 

38,831

 

 

 

28,832

 

 

 

9,999

 

 

 

 

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. and foreign commercial paper

 

 

13,743

 

 

 

 

 

 

13,743

 

 

 

 

U.S. and foreign corporate debt securities

 

 

8,592

 

 

 

 

 

 

8,592

 

 

 

 

U.S. government debt securities

 

 

20,924

 

 

 

 

 

 

20,924

 

 

 

 

U.S. treasuries

 

 

40,374

 

 

 

 

 

 

40,374

 

 

 

 

Total short-term marketable securities

 

 

83,633

 

 

 

 

 

 

83,633

 

 

 

 

Total assets subject to fair value measurements

   on a recurring basis

 

$

122,464

 

 

$

28,832

 

 

$

93,632

 

 

$

 

 

 

 

 

 

December 31, 2019

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

29,377

 

 

$

29,377

 

 

$

 

 

$

 

U.S. and foreign commercial paper

 

 

4,999

 

 

 

 

 

 

4,999

 

 

 

 

U.S government debt securities

 

 

2,550

 

 

 

 

 

 

2,550

 

 

 

 

Total cash equivalents

 

 

36,926

 

 

 

29,377

 

 

 

7,549

 

 

 

 

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

 

15,063

 

 

 

 

 

 

15,063

 

 

 

 

U.S. and foreign commercial paper

 

 

11,972

 

 

 

 

 

 

11,972

 

 

 

 

U.S. and foreign corporate debt securities

 

 

8,755

 

 

 

 

 

 

8,755

 

 

 

 

U.S. government debt securities

 

 

48,718

 

 

 

 

 

 

48,718

 

 

 

 

Total short-term marketable securities

 

 

84,508

 

 

 

 

 

 

84,508

 

 

 

 

Strategic investment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign equity securities

 

 

5,507

 

 

 

5,507

 

 

 

 

 

 

 

Total strategic investment

 

 

5,507

 

 

 

5,507

 

 

 

 

 

 

 

Long-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

 

3,025

 

 

 

 

 

 

3,025

 

 

 

 

Total long-term marketable securities

 

 

3,025

 

 

 

 

 

 

3,025

 

 

 

 

Total assets subject to fair value measurements

   on a recurring basis

 

$

129,966

 

 

$

34,884

 

 

$

95,082

 

 

$

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liability

 

$

1,131

 

 

$

 

 

$

 

 

$

1,131

 

Total liabilities subject to fair value

   measurements on a recurring basis

 

$

1,131

 

 

$

 

 

$

 

 

$

1,131

 

 

Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Text Block]

The following table provides a reconciliation of the Company’s financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at September 30, 2020 and 2019 (in thousands):

 

 

 

Amount

 

Balance at December 31, 2019

 

$

1,131

 

Additions

 

 

 

Settlements

 

 

(1,098

)

Change in fair value

 

 

(33

)

Balance at September 30, 2020

 

$

 

 

 

 

 

Amount

 

Balance at December 31, 2018

 

$

2,483

 

Additions

 

 

 

Settlements

 

 

 

Change in fair value

 

 

(1,327

)

Balance at September 30, 2019

 

$

1,156