| Schedule of Cash Equivalents and Marketable Securities Classified as Available-for-Sale Securities Measured at Fair Value on Recurring Basis |
Cash equivalents and marketable securities, all of which are classified as available-for-sale securities and measured at fair value on a recurring basis, consisted of the following (in thousands):
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As of June 30, 2025 |
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Fair Value
Hierarchy
Level |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
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|
Fair
Value |
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Financial assets: |
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|
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Money market funds |
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Level 1 |
|
$ |
12,252 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
12,252 |
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Corporate debt |
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Level 2 |
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31,084 |
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|
|
7 |
|
|
|
(4 |
) |
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|
31,087 |
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Asset-backed securities |
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Level 2 |
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|
6,373 |
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|
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2 |
|
|
|
— |
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|
|
6,375 |
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Commercial paper |
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Level 2 |
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56,613 |
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|
|
— |
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|
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(2 |
) |
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|
56,611 |
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U.S. government agency securities |
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Level 2 |
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62,365 |
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|
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18 |
|
|
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(5 |
) |
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|
62,378 |
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Subtotal |
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|
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168,687 |
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27 |
|
|
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(11 |
) |
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|
168,703 |
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Less: Cash equivalents |
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(41,642 |
) |
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— |
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|
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— |
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|
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(41,642 |
) |
Marketable securities |
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|
|
$ |
127,045 |
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|
$ |
27 |
|
|
$ |
(11 |
) |
|
$ |
127,061 |
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As of December 31, 2024 |
|
|
|
Fair Value
Hierarchy
Level |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair
Value |
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|
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|
|
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|
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|
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Financial assets: |
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Money market funds |
|
Level 1 |
|
$ |
152,776 |
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|
$ |
— |
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|
$ |
— |
|
|
$ |
152,776 |
|
Corporate debt |
|
Level 2 |
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|
17,772 |
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21 |
|
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(3 |
) |
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17,790 |
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Asset-backed securities |
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Level 2 |
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3,820 |
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5 |
|
|
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— |
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|
3,825 |
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Commercial paper |
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Level 2 |
|
|
16,795 |
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|
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— |
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— |
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|
16,795 |
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U.S. government agency securities |
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Level 2 |
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39,743 |
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27 |
|
|
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— |
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39,770 |
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Subtotal |
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230,906 |
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53 |
|
|
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(3 |
) |
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|
230,956 |
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Less: Cash equivalents |
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|
|
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(169,636 |
) |
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|
— |
|
|
|
— |
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|
|
(169,636 |
) |
Marketable securities |
|
|
|
$ |
61,270 |
|
|
$ |
53 |
|
|
$ |
(3 |
) |
|
$ |
61,320 |
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| Schedule of Remaining Contractual Maturities of Marketable Securities |
The following table presents the remaining contractual maturities of the Company’s marketable securities as of June 30, 2025 (in thousands):
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June 30, 2025 |
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Maturing in one year or less |
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$ |
120,016 |
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Maturing after one year through five years |
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|
7,045 |
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Total |
|
$ |
127,061 |
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