v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value and Classification of Instruments The fair value of these assets and liabilities as of June 30, 2025 and December 31, 2024 are classified as follows (in thousands):
As of June 30, 2025
Level 1Level 2Level 3Total
Assets:
Money market funds$384,706 $— $— $384,706 
Convertible Note Investment
— — 25,387 25,387 
Total assets$384,706 $— $25,387 $410,093 
As of December 31, 2024
Level 1Level 2Level 3Total
Assets:
Money market funds $133,959 $— $— $133,959 
Total assets$133,959 $— $— $133,959 
Schedule of Change in Fair Value of Level 3 Instruments
The change in fair value of the Level 3 instruments were as follows (in thousands):
As of June 30, 2025
Convertible Note Investment
Fair value, beginning of the year
$— 
Initial investment
25,000 
Changes in fair value387 
Fair value, end of period
$25,387