Schedule of Fair Value on Recurring Basis |
The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | | Fair Value Measurement as of December 31, 2021 | | Level 1 | | Level 2 | | Total | Assets: | | | | | | Cash equivalents: | | | | | | Money market funds | $ | 474,294 | | | $ | — | | | $ | 474,294 | | Marketable securities: | | | | | | Commercial paper | — | | | 83,728 | | | 83,728 | | Corporate securities | — | | | 78,363 | | | 78,363 | | U.S. Treasury securities | — | | | 15,188 | | | 15,188 | | Asset-backed securities | — | | | 16,720 | | | 16,720 | | Total marketable securities | — | | | 193,999 | | | 193,999 | | Total cash equivalents and marketable securities | $ | 474,294 | | | $ | 193,999 | | | $ | 668,293 | |
| | | | | | | | | | | | | | | | | | | Fair Value Measurement as of December 31, 2020 | | Level 1 | | Level 2 | | Total | Assets: | | | | | | Cash equivalents: | | | | | | Money market funds | $ | 28,371 | | | $ | — | | | $ | 28,371 | | Marketable securities: | | | | | | Commercial paper | — | | | 27,473 | | | 27,473 | | Corporate securities | — | | | 6,938 | | | 6,938 | | U.S. Treasury securities | — | | | 16,158 | | | 16,158 | | Asset-backed securities | — | | | 2,772 | | | 2,772 | | Total marketable securities | — | | | 53,341 | | | 53,341 | | Total cash equivalents and marketable securities | $ | 28,371 | | | $ | 53,341 | | | $ | 81,712 | |
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