v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Measurements  
Schedule of information about the Company's assets and liabilities that are regularly measured and carried at fair value

The following table presents information about the Company’s assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value (in thousands):

As of June 30, 2025

Description

    

Total Carrying Value

Quoted Prices in Active Market
(Level 1)

    

Significant Other Observable Inputs
(Level 2)

    

Significant Other Observable Inputs
(Level 3)

Assets:

Cash

$

31,318

$

31,318

$

$

Money market funds

12,688

12,688

Short-term investments:

Commercial paper

6,265

6,265

Corporate debt securities

48,161

48,161

Government securities

174,847

174,847

Long-term investments:

Corporate debt securities

1,614

1,614

Total assets

$

274,893

$

218,853

$

56,040

$

As of December 31, 2024

Description

    

Total Carrying Value

Quoted Prices in Active Market
(Level 1)

    

Significant Other Observable Inputs
(Level 2)

    

Significant Other Observable Inputs
(Level 3)

Assets:

Cash

$

19,070

$

19,070

$

$

Money market funds

300,672

300,672

Short-term investments:

Commercial paper

3,315

3,315

Corporate debt securities

8,601

8,601

Government securities

19,108

19,108

Total assets

$

350,766

$

338,850

$

11,916

$

Summary of available-for-sale securities

The following table summarizes the available-for-sale securities (in thousands):

As of June 30, 2025

Amortized Cost

Gross Unrealized Gains

Gross Unrealized Losses

Fair Value

June 30, 2025

Commercial paper

$

6,263

$

3

$

(1)

$

6,265

Corporate debt securities

49,767

16

(8)

49,775

Government securities

174,930

2

(85)

174,847

Total

$

230,960

$

21

$

(94)

$

230,887

As of December 31, 2024

Amortized Cost

Gross Unrealized Gains

Gross Unrealized Losses

Fair Value

December 31, 2024

Commercial paper

$

3,311

$

4

$

$

3,315

Corporate debt securities

8,589

12

8,601

Government securities

19,093

17

(2)

19,108

Total

$

30,993

$

33

$

(2)

$

31,024