v3.25.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured on Recurring Basis
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2025 (in thousands):
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$37,157 $— $— $37,157 
Short-term investments
US government and agency securities29,518 — 29,518 
Commercial paper— 15,301 — 15,301 
Total$66,675 $15,301 $— $81,976 
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2024 (in thousands):
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$31,708 $— $— $31,708 
Short-term investments
US government and agency securities32,323 — 32,323 
Commercial paper— 15,211 — 15,211 
Total$64,031 $15,211 $— $79,242 
Schedule of Debt Securities, Available-for-Sale
The following tables summarize the Company's short-term investments on the unaudited condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term investments
US government and agency securities$29,511 $15 $(8)$29,518 
Commercial paper15,301 1 (1)15,301 
Total$44,812 $16 $(9)$44,819 
December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term investments
US government and agency securities$32,309 $23 $(9)$32,323 
Commercial paper15,203 8 — 15,211 
Total$47,512 $31 $(9)$47,534 
Schedule of Cash and Cash Equivalents
The following tables summarize the Company’s cash and cash equivalents on the unaudited condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash$16,253 $— $— $16,253 
Cash equivalents
Money market funds 37,157 — — 37,157 
Total$53,410 $— $— $53,410 
December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash$19,888 $— $— $19,888 
Cash equivalents
Money market funds 31,708 — — 31,708 
Total$51,596 $— $— $51,596