Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Financial instruments not carried at fair value but requiring fair value disclosure

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2022 and 2021:

	As of December 31, 2022						As of December 31, 2021
(In thousands)	Face Value		Carrying Value		Fair Value		Face Value		Carrying Value		Fair Value
1.375% Convertible Senior Notes due 2023 (the “2023 Notes”)	$	10,381	$	10,378	$	19,625	$	172,500	$	163,687	$	254,103

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the financial instruments and liabilities that are carried at fair value and summarizes their valuation by the respective pricing levels detailed in Note 2, “Summary of Significant Accounting Policies,” as of December 31, 2022 and 2021:

	As of December 31, 2022
(In thousands)	Total		Quoted Market Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets carried at fair value
Money market funds	$	15,763	$	15,763	$	—	$	—
U.S. Government bonds and notes	96,371		—		96,371		—
Corporate notes, bonds and commercial paper	106,355		—		106,355		—
Total assets carried at fair value	$	218,489	$	15,763	$	202,726	$	—
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	$	14,800	$	—	$	—	$	14,800
Total liabilities carried at fair value	$	14,800	$	—	$	—	$	14,800

	As of December 31, 2021
(In thousands)	Total		Quoted Market Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets carried at fair value
Money market funds	$	7,402	$	7,402	$	—	$	—
U.S. Government bonds and notes	102,812		—		102,812		—
Corporate notes, bonds and commercial paper	287,905		—		287,905		—
Total assets carried at fair value	$	398,119	$	7,402	$	390,717	$	—
Liabilities carried at fair value
Earn-out consideration related to PLDA acquisition	$	16,900	$	—	$	—	$	16,900
Total liabilities carried at fair value	$	16,900	$	—	$	—	$	16,900

The following table presents additional information about liabilities measured at fair value for which the Company utilizes Level 3 inputs to determine fair value, as of December 31, 2022 and 2021:

	Years Ended December 31,
(In thousands)	2022		2021		2020
Balance as of January 1	$	16,900	$	—	$	1,800
Addition of earn-out liability due to acquisition	—		11,600		—
Change in fair value of earn-out liability due to remeasurement	3,111		5,300		(1,800)
Change in fair value of earn-out liability due to achievement of revenue target	(5,211)		—		—
Balance as of December 31	$	14,800	$	16,900	$	—