Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Measurements

Schedule of assets and liabilities that are measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis (in thousands):

	Fair Value Measurements at September 30, 2024 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents - Money market funds	$	21,822	$	—	$	—	$	21,822
Marketable securities - U.S. Treasury securities due in 3 - 6 months		—		26,661		—		26,661
Total assets measured at fair value	$	21,822	$	26,661	$	—	$	48,483
Other long-term liabilities:
Acquisition-related contingent consideration		—		—		3,359		3,359
Total liabilities measured at fair value	$	—	$	—	$	3,359	$	3,359

	Fair Value Measurements at December 31, 2023 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents - Money market funds	$	94,165	$	—	$	—	$	94,165
Cash equivalents - U.S. Treasury securities		—		4,964		—		4,964
Marketable securities - U.S. Treasury securities due in 3 - 6 months		—		24,641		—		24,641
Total assets measured at fair value	$	94,165	$	29,605	$	—	$	123,770
Other current liabilities:
Acquisition-related contingent consideration		—		—		500		500
Total liabilities measured at fair value	$	—	$	—	$	500	$	500

Schedule of change in fair value of liabilities

Balance as of December 31, 2023	$	500
Acquisition date fair value of contingent consideration - earnout		15,500
Decrease in fair value of contingent consideration earnouts		(12,141)
Contingent consideration payment		(500)
Balance as of September 30, 2024	$	3,359