| Summary of Cash Equivalents and Short-term Investments Measured at Fair Value on Recurring Basis |
Below is the summary of our cash equivalents and short-term investments measured at fair value on a recurring basis and categorized using the fair value hierarchy (in thousands):
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June 30, 2025 |
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Level 1 |
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Level 2 |
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Estimated Fair Value |
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Cash equivalents |
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Money market funds |
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$ |
25,095 |
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$ |
- |
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$ |
25,095 |
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Total cash equivalents |
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25,095 |
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- |
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25,095 |
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Available-for-sale securities |
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Securities of U.S. government and government agencies |
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- |
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53,961 |
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53,961 |
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Commercial paper |
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- |
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31,726 |
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31,726 |
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Certificates of deposit |
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1,722 |
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1,722 |
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Corporate debt securities |
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- |
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67,058 |
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67,058 |
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Asset-backed securities |
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- |
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8,262 |
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|
8,262 |
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Total available-for-sale securities |
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- |
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162,729 |
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|
162,729 |
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Total cash equivalents and available-for-sale securities |
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$ |
25,095 |
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$ |
162,729 |
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$ |
187,824 |
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December 31, 2024 |
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Level 1 |
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Level 2 |
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Estimated Fair Value |
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Cash equivalents |
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|
|
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Money market funds |
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$ |
46,079 |
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|
$ |
- |
|
|
$ |
46,079 |
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Corporate debt securities |
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|
- |
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9,663 |
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|
9,663 |
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Securities of U.S. government and government agencies |
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|
- |
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3,978 |
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|
3,978 |
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Total cash equivalents |
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46,079 |
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13,641 |
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|
59,720 |
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Available-for-sale securities |
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Securities of U.S. government and government agencies |
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|
- |
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51,500 |
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|
51,500 |
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Commercial paper |
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|
- |
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44,473 |
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44,473 |
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Corporate debt securities |
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- |
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64,570 |
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64,570 |
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Asset-backed securities |
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- |
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4,793 |
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|
4,793 |
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Total available-for-sale securities |
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- |
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165,336 |
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165,336 |
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Total cash equivalents and available-for-sale securities |
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$ |
46,079 |
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$ |
178,977 |
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$ |
225,056 |
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