v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets that are Measured at Fair Value on a Recurring basis

The following table shows the Company’s assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands) as of June 30, 2025:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

3,885

 

 

$

—

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

—

 

 

 

2,954

 

 

 

—

 

Corporate debt securities

 

 

—

 

 

 

78,424

 

 

 

—

 

Municipal debt securities

 

 

—

 

 

 

8,715

 

 

 

—

 

U.S. federal agency securities

 

 

—

 

 

 

13,402

 

 

 

—

 

Total assets

 

$

3,885

 

 

$

103,495

 

 

$

—

 

 

The following table shows the Company’s assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands) as of December 31, 2024:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

2,060

 

 

$

—

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

—

 

 

 

1,446

 

 

 

—

 

Corporate debt securities

 

 

—

 

 

 

42,882

 

 

 

—

 

Municipal debt securities

 

 

—

 

 

 

3,072

 

 

 

—

 

U.S. federal agency securities

 

 

—

 

 

 

12,263

 

 

 

—

 

U.S. government securities

 

 

—

 

 

 

4,503

 

 

 

—

 

Total assets

 

$

2,060

 

 

$

64,166

 

 

$

—