v3.26.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following table sets forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy:
 

 

December 31, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

51,333

 

 

$

51,333

 

 

$

 

 

$

 

Commercial paper

 

 

29,139

 

 

 

 

 

 

29,139

 

 

 

 

Corporate debt securities

 

 

16,952

 

 

 

 

 

 

16,952

 

 

 

 

Asset-backed securities

 

 

7,280

 

 

 

 

 

 

7,280

 

 

 

 

U.S. government securities

 

 

29,927

 

 

 

29,927

 

 

 

 

 

 

 

Total

 

$

134,631

 

 

$

81,260

 

 

$

53,371

 

 

$

 

 

 

 

December 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

68,474

 

 

$

68,474

 

 

$

 

 

$

 

Commercial paper

 

 

50,932

 

 

 

 

 

 

50,932

 

 

 

 

Corporate debt securities

 

 

94,257

 

 

 

 

 

 

94,257

 

 

 

 

Asset-backed securities

 

 

40,522

 

 

 

 

 

 

40,522

 

 

 

 

U.S. government securities

 

 

49,644

 

 

 

49,644

 

 

 

 

 

 

 

U.S. agency securities

 

 

9,582

 

 

 

 

 

 

9,582

 

 

 

 

Total

 

$

313,411

 

 

$

118,118

 

 

$

195,293

 

 

$