Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 (in thousands):

	Total		Quoted prices in active markets  (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
March 31, 2022
Assets:
Cash and cash equivalents	$	270,893	$	270,893	$	—	$	—
Marketable securities:
U.S. government agency securities and treasuries	138,167		—		138,167		—
Corporate bonds	33,667		—		33,667		—
Commercial paper	9,822		—		9,822		—
Total assets	$	452,549	$	270,893	$	181,656	$	—
Liabilities:
Contingent consideration	$	1,996	$	—	$	—	$	1,996
Total liabilities	$	1,996	$	—	$	—	$	1,996
December 31, 2021
Assets:
Cash and cash equivalents	$	130,414	$	130,414	$	—	$	—
Marketable securities:
U.S. government agency securities and treasuries	128,392		—		128,392		—
Corporate bonds	49,310		—		49,310		—
Commercial paper	54,065		—		54,065		—
Total assets	$	362,181	$	130,414	$	231,767	$	—
Liabilities:
Contingent consideration	$	1,948	$	—	$	—	$	1,948
Total liabilities	$	1,948	$	—	$	—	$	1,948

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The table below provides a roll-forward of fair value of the Company’s contingent consideration obligations that include Level 3 inputs (in thousands):

	For the three months ended March 31, 2022
Beginning balance	$	1,948
Additions	—
Changes in fair value	48
Payments	—
Ending balance	$	1,996