Description of Business and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents and restricted cash equivalents reported within the Consolidated Balance Sheets to the amount reported in the Consolidated Statement of Cash Flows.

	March 31, 2024		March 31, 2023
	(in thousands)
Cash and cash equivalents	$	29,288	$	16,153
Restricted cash equivalents1	24,695		—
Total cash and cash equivalents and restricted cash equivalents	$	53,983	$	16,153

1.On February 2, 2024, the Company entered into a Collateral Trust Agreement with the Company’s third-party insurer and a trustee whereby investments or money market funds are held in a trust account to benefit the insurer and are restricted for that purpose. Restricted cash equivalents represent funds invested in money market funds as of March 31, 2024. The trust account was set up in conjunction with a reduction in the Company’s letter of credit collateral obligation for insurance obligations.

Schedule of Restricted Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents and restricted cash equivalents reported within the Consolidated Balance Sheets to the amount reported in the Consolidated Statement of Cash Flows.

	March 31, 2024		March 31, 2023
	(in thousands)
Cash and cash equivalents	$	29,288	$	16,153
Restricted cash equivalents1	24,695		—
Total cash and cash equivalents and restricted cash equivalents	$	53,983	$	16,153

1.On February 2, 2024, the Company entered into a Collateral Trust Agreement with the Company’s third-party insurer and a trustee whereby investments or money market funds are held in a trust account to benefit the insurer and are restricted for that purpose. Restricted cash equivalents represent funds invested in money market funds as of March 31, 2024. The trust account was set up in conjunction with a reduction in the Company’s letter of credit collateral obligation for insurance obligations.