| Fair Value, Assets Measured on Recurring Basis |
Assets measured at fair value on a recurring basis as of March 31, 2025 were as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Cash equivalents and short-term investments: | | | | | | | | | | Money market funds, included in cash equivalents | | $ | 28,927 | | | $ | 28,927 | | | $ | — | | | $ | — | | Commercial paper | | 46,315 | | | — | | | 46,315 | | | — | | Government securities | | 53,955 | | | 40,529 | | | 13,426 | | | — | | Corporate debt securities | | 113,706 | | | — | | | 113,706 | | | — | | | Total cash equivalents and short-term investments | | 242,903 | | | 69,456 | | | 173,447 | | | — | | Long-term investments: | | | | | | | | | | Government securities | | 9,914 | | | 9,914 | | | — | | | — | | Corporate debt securities | | 16,086 | | | — | | | 16,086 | | | — | | | Total long-term investments | | 26,000 | | | 9,914 | | | 16,086 | | | — | | | Total cash equivalents and investments | | $ | 268,903 | | | $ | 79,370 | | | $ | 189,533 | | | $ | — | |
Assets measured at fair value on a recurring basis as of December 31, 2024 were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Cash equivalents and short-term investments: | | | | | | | | | | Money market funds, included in cash equivalents | | $ | 23,324 | | | $ | 23,324 | | | $ | — | | | $ | — | | Commercial paper | | 46,773 | | | — | | | 46,773 | | | — | | Government securities | | 59,170 | | | 46,813 | | | 12,357 | | | — | | Corporate debt securities | | 121,854 | | | — | | | 121,854 | | | — | | | Total cash equivalents and short-term investments | | 251,121 | | | 70,137 | | | 180,984 | | | — | | Long-term investments: | | | | | | | | | | Government securities | | 10,888 | | | 10,888 | | | — | | | — | | Corporate debt securities | | 25,745 | | | — | | | 25,745 | | | — | | | Total long-term investments | | 36,633 | | | 10,888 | | | 25,745 | | | — | | | Total cash equivalents and investments | | $ | 287,754 | | | $ | 81,025 | | | $ | 206,729 | | | $ | — | |
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