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

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

June 30, 2025

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

84,930

 

 

$

84,930

 

 

$

—

 

 

$

—

 

U.S. Treasury securities - original maturity less than three months

 

 

59,493

 

 

 

—

 

 

 

59,493

 

 

 

—

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

49,070

 

 

 

—

 

 

 

49,070

 

 

 

—

 

Total

 

$

193,493

 

 

$

84,930

 

 

$

108,563

 

 

$

—

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

162,634

 

 

$

162,634

 

 

$

—

 

 

$

—

 

Total

 

$

162,634

 

 

$

162,634

 

 

$

—

 

 

$

—

 
Schedule of Debt Securities Classified as Available-for-Sale Investments the Company records unrealized gains or losses resulting from changes in fair value between measurement dates as a component of other comprehensive income. The Company did not hold any available-for-sale securities as of December 31, 2024.

 

 

June 30, 2025

 

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Fair value

 

Financial assets

 

 

 

 

 

 

 

 

 

Cash

 

$

1,189

 

 

$

—

 

 

$

1,189

 

Money market funds

 

 

84,930

 

 

 

—

 

 

 

84,930

 

U.S. Treasury securities - original maturity less than three months

 

 

59,493

 

 

 

—

 

 

 

59,493

 

Included in cash and cash equivalents

 

 

145,612

 

 

 

—

 

 

 

145,612

 

U.S. Treasury securities - due in one year or less

 

 

 

 

 

 

 

 

—

 

Included in short-term investments

 

 

49,069

 

 

 

1

 

 

 

49,070

 

Total

 

$

194,681

 

 

$

1

 

 

$

194,682