v3.25.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured at Fair Value The following tables summarize the Company’s financial assets measured at fair value as of March 31, 2025 and December 31, 2024 and indicate the fair value hierarchy of the valuation:
Fair Value at Reporting Date Using
(in thousands)March 31, 2025Level 1Level 2Level 3
Assets:
  Cash equivalents(1)
$42,304 $42,304 $— $— 
Marketable securities:
  Corporate bonds8,351 — 8,351 — 
  Commercial paper1,755 — 1,755 — 
  U.S. Treasury debt securities22,557 22,557 — — 
  International debt securities974 — 974 — 
Total marketable securities33,637 22,557 11,080 — 
    Total assets$75,941 $64,861 $11,080 $— 
(1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements, and corporate bonds that have a maturity of three months or less from the original acquisition date.

Fair Value at Reporting Date Using
(in thousands)December 31, 2024Level 1Level 2Level 3
Assets:
  Cash equivalents(1)
$62,434 $62,434 $— $— 
Marketable securities:
  Corporate bonds4,368 — 4,368 — 
  Commercial paper1,580 — 1,580 — 
  U.S. Treasury debt securities15,427 15,427 — — 
Total marketable securities21,375 15,427 5,948 — 
   Total Assets$83,809 $77,861 $5,948 $— 
(1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements, and corporate bonds that have a maturity of three months or less from the original acquisition date.