Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.23.1
Fair Value Measurements
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements

3. Fair value measurements

Cash, cash equivalents and marketable securities

The following table summarizes fair value measurements by level for the assets measured at fair value on a recurring basis for cash, cash equivalents and marketable securities:

 

 

 

As of March 31, 2023

 

 

 

 

 

 

Gross

 

 

 

 

 

Cash

 

 

 

 

 

 

Adjusted

 

 

unrealized

 

 

 

 

 

and cash

 

 

Marketable

 

 

 

cost

 

 

gains

 

 

Fair value

 

 

equivalents

 

 

securities

 

Cash

 

$

23,864

 

 

$

 

 

$

23,864

 

 

$

23,864

 

 

$

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

 

99,048

 

 

 

 

 

 

99,048

 

 

 

99,048

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

5,985

 

 

 

 

 

 

5,985

 

 

 

5,985

 

 

 

 

U.S. Treasury securities

 

 

25,253

 

 

 

95

 

 

 

25,348

 

 

 

14,920

 

 

 

10,428

 

Institutional Insured Liquidity Deposit Savings

 

 

20,320

 

 

 

 

 

 

20,320

 

 

 

20,320

 

 

 

 

Total

 

$

174,470

 

 

$

95

 

 

$

174,565

 

 

$

164,137

 

 

$

10,428

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2022

 

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

Cash

 

 

 

 

 

 

Adjusted

 

 

unrealized

 

 

 

 

 

and cash

 

 

 

 

 

 

cost

 

 

gains

 

 

Fair value

 

 

equivalents

 

 

 

 

Cash

 

$

27,970

 

 

$

 

 

$

27,970

 

 

$

27,970

 

 

 

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market accounts

 

 

113,534

 

 

 

 

 

 

113,534

 

 

 

113,534

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

6,474

 

 

 

 

 

 

6,474

 

 

 

6,474

 

 

 

 

U.S. Treasury securities

 

 

18,913

 

 

 

26

 

 

 

18,939

 

 

 

18,939

 

 

 

 

Institutional Insured Liquidity Deposit Savings

 

 

20,097

 

 

 

 

 

 

20,097

 

 

 

20,097

 

 

 

 

Total

 

$

186,988

 

 

$

26

 

 

$

187,014

 

 

$

187,014

 

 

 

 

Derivative instruments and hedging activities

The Company records the assets or liabilities associated with derivative instruments and hedging activities at fair value based on Level 2 inputs in other current assets or other current liabilities, respectively, in the consolidated balance sheet. The Company had a related payable of $203 and $422 as of March 31, 2023 and December 31, 2022, respectively.

Accumulated other comprehensive income (loss)

The components of accumulated other comprehensive income (loss) were as follows:

 

 

 

Foreign

 

 

Unrealized

 

 

Accumulated

 

 

 

currency

 

 

gains

 

 

other

 

 

 

translation

 

 

on marketable

 

 

comprehensive

 

 

 

adjustments

 

 

securities

 

 

income (loss)

 

Balance as of December 31, 2022

 

$

(269

)

 

$

26

 

 

$

(243

)

Other comprehensive income

 

 

170

 

 

 

69

 

 

 

239

 

Balance as of March 31, 2023

 

$

(99

)

 

$

95

 

 

$

(4

)

 

Comprehensive income (loss) is the total net earnings and all other non-owner changes in equity. Except for foreign currency translation adjustments and unrealized gains and losses on marketable securities, the Company does not have any transactions or other economic events that qualify as other comprehensive income (loss).