v3.25.2
Cash, Cash Equivalents and Restricted Cash
6 Months Ended
Jun. 30, 2025
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Restricted Cash

3. Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash consisted of the following (in thousands):

 

June 30,

 

 

December 31,

 

 

2025

 

 

2024

 

Cash and cash equivalents

 

$

127,337

 

 

$

192,434

 

Restricted cash

 

 

240

 

 

 

238

 

Total cash, cash equivalents and restricted cash as shown on the condensed consolidated statements of cash flows

 

$

127,577

 

 

$

192,672

 

The Company's restricted cash balance, which is classified within other assets on the condensed consolidated balance sheets, consists of letters of credit related to leased and subleased office space in Watertown, Massachusetts. The Company is required to maintain a separate cash balance to secure its letters of credit.