Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

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

The following table provides the assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such value at September 30, 2024 and December 31, 2023:


	September 30, 2024
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	11,789	$	11,789	$	—	$	—
U.S. treasury securities		750		750		—		—
Total cash equivalents at fair value		12,539		12,539		—		—
Short-term investments:
U.S. treasury securities		1,487		1,487		—		—
Commercial paper and corporate bonds		2,701		—		2,701		—
Total short-term investments at fair value		4,188		1,487		2,701		—
Total assets at fair value	$	16,727	$	14,026	$	2,701	$	—


	December 31, 2023
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	10,761	$	10,761	$	—	$	—
Corporate Bonds		1,827		—		1,827		—
Total cash equivalents at fair value		12,588		10,761		1,827		—
Short-term investments:
U.S. treasury securities		14,826		14,826		—		—
Commercial paper and corporate bonds		13,204		—		13,204		—
U.S. government agency bonds		4,743		—		4,743		—
Total short-term investments at fair value		32,773		14,826		17,947		—
Total assets at fair value	$	45,361	$	25,587	$	19,774	$	—


	December 31, 2023
	Fair Value		Cost Basis		Amounts Recognized in Accumulated Other Comprehensive Loss
					Unrealized Gains		Unrealized Losses
	(in thousands)
Available-for-sale securities:
U.S. Treasury securities	$	14,826	$	14,820	$	6	$	—
Commercial paper and corporate bonds		13,204		13,197		9		(2	)
U.S. government agency bonds		4,743		4,745		—		(2	)
Total available-for-sale securities at fair value	$	32,773	$	32,762	$	15	$	(4	)

Summary of Short-Term Investments


	September 30, 2024
	Fair Value		Cost Basis		Amounts Recognized in Accumulated Other Comprehensive Loss
					Unrealized Gains		Unrealized Losses
	(in thousands)
Available-for-sale securities:
U.S. treasury securities	$	1,487	$	1,485	$	2	$	—
Commercial paper and corporate bonds		2,701		2,700		1		—
Total available-for-sale securities at fair value	$	4,188	$	4,185	$	3	$	—


	December 31, 2023
	Fair Value		Cost Basis		Amounts Recognized in Accumulated Other Comprehensive Loss
					Unrealized Gains		Unrealized Losses
	(in thousands)
Available-for-sale securities:
U.S. Treasury securities	$	14,826	$	14,820	$	6	$	—
Commercial paper and corporate bonds		13,204		13,197		9		(2	)
U.S. government agency bonds		4,743		4,745		—		(2	)
Total available-for-sale securities at fair value	$	32,773	$	32,762	$	15	$	(4	)

Sonendo, Inc. 10-Q