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Marketable securities (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

The following table summarizes the marketable securities held at June 30, 2024 and December 31, 2023 (in thousands):


	Cost or amortized cost		Unrealized gains		Unrealized losses		Fair Value
June 30, 2024
U.S. government agency securities and treasuries	$	63,376	$	—	$	(45)	$	63,331
Commercial paper	26,686		2		(10)		26,678
Total	$	90,062	$	2	$	(55)	$	90,009
December 31, 2023
U.S. government agency securities and treasuries	$	101,566	$	144	$	(85)	$	101,625
Commercial paper	45,188		34		—		45,222
Total	$	146,754	$	178	$	(85)	$	146,847

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

The following table summarizes available-for-sale debt securities in a continuous unrealized loss position for less than twelve months and twelve months or greater, and for which an allowance for credit losses has not been recorded at June 30, 2024 and December 31, 2023 (in thousands):


	Less than 12 months				12 months or greater				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
June 30, 2024
U.S. government agency securities and treasuries	$	49,944	$	(31)	$	13,386	$	(14)	$	63,330	$	(45)
Commercial paper	16,730		(10)		—		—		16,730		(10)
Total	$	66,674	$	(41)	$	13,386	$	(14)	$	80,060	$	(55)
December 31, 2023
U.S. government agency securities and treasuries	$	45,850	$	(60)	$	1,475	$	(25)	$	47,325	$	(85)
Total	$	45,850	$	(60)	$	1,475	$	(25)	$	47,325	$	(85)

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 six months ended June 30, 2024
Beginning balance	$	2,415
Additions	—
Changes in fair value	(2,415)
Payments	—
Ending balance	$	—

Summary or Restricted Investments

The following table summarizes restricted investments held at June 30, 2024 and December 31, 2023 (in thousands):


	Cost or amortized cost		Unrealized gains		Unrealized losses		Fair Value
June 30, 2024
U.S. government agency securities and treasuries	$	34,350	$	10	$	(192)	$	34,168
Total	$	34,350	$	10	$	(192)	$	34,168
December 31, 2023
U.S. government agency securities and treasuries	$	33,072	$	67	$	(365)	$	32,774
Total	$	33,072	$	67	$	(365)	$	32,774

Restricted Investments, Available-for-Sale, Unrealized Loss Position, Fair Value

The following table summarizes restricted investments in a continuous unrealized loss position for less than twelve months and twelve months or greater, and for which an allowance for credit losses has not been recorded at June 30, 2024 and December 31, 2023 (in thousands):


	Less than 12 months				12 months or greater				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
June 30, 2024
U.S. government agency securities and treasuries	$	16,795	$	(58)	$	10,886	$	(134)	$	27,681	$	(192)
Total	$	16,795	$	(58)	$	10,886	$	(134)	$	27,681	$	(192)
December 31, 2023
U.S. government agency securities and treasuries	$	3,496	$	(4)	$	13,266	$	(361)	$	16,762	$	(365)
Total	$	3,496	$	(4)	$	13,266	$	(361)	$	16,762	$	(365)