v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands):
December 31, 2025
Total Level 1 Level 2 Level 3
Assets
Cash equivalents:
Money market funds$51,962 $51,962 $— $— 
Commercial paper5,988 — 5,988 — 
Marketable securities:
 
 
 
U.S. Treasury securities
192,065 192,065 — — 
Commercial paper24,396 — 24,396 — 
Government agency securities23,575 — 23,575 — 
Corporate debt11,815 — 11,815 — 
Total financial assets$309,801 $244,027 $65,774 $— 
December 31, 2024
Total
Level 1
Level 2
Level 3
Assets
Cash equivalents:
Money market funds$37,288 $37,288 $— $— 
Marketable securities:
 
 
 
U.S. Treasury securities
70,679 70,679 — — 
Government agency securities36,415 — 36,415 — 
Corporate debt17,227 — 17,227 — 
Commercial paper5,934 — 5,934 — 
Total financial assets
$167,543 $107,967 $59,576 $— 
During the year ended December 31, 2025, there were no transfers or reclassifications between fair value measurement levels of assets or liabilities. The carrying values of prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities.