| Schedule of Financial Assets and Liability Measured at Fair Value |
The following tables present information about financial assets and liabilities that have been measured at fair value and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value for each of the periods indicated (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
$ |
61,211 |
|
$ |
61,211 |
|
$ |
— |
|
$ |
— |
Corporate debt securities |
|
|
53,969 |
|
|
— |
|
|
53,969 |
|
|
— |
U.S. government agency securities |
|
|
16,903 |
|
|
— |
|
|
16,903 |
|
|
— |
Total assets |
|
$ |
132,083 |
|
$ |
61,211 |
|
$ |
70,872 |
|
$ |
— |
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative liability |
|
$ |
5,020 |
|
$ |
— |
|
$ |
— |
|
$ |
5,020 |
Total liabilities |
|
$ |
5,020 |
|
$ |
— |
|
$ |
— |
|
$ |
5,020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of April 30, 2025 |
|
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
$ |
98,644 |
|
$ |
98,644 |
|
$ |
— |
|
$ |
— |
Corporate debt securities |
|
|
75,243 |
|
|
— |
|
|
75,243 |
|
|
— |
U.S. government agency securities |
|
|
13,759 |
|
|
— |
|
|
13,759 |
|
|
— |
Total assets |
|
$ |
187,646 |
|
$ |
98,644 |
|
$ |
89,002 |
|
$ |
— |
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative liability |
|
$ |
6,440 |
|
$ |
— |
|
$ |
— |
|
$ |
6,440 |
Total liabilities |
|
$ |
6,440 |
|
$ |
— |
|
$ |
— |
|
$ |
6,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of April 30, 2024 |
|
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
$ |
11,143 |
|
$ |
11,143 |
|
$ |
— |
|
$ |
— |
Corporate debt securities |
|
|
130,423 |
|
|
— |
|
|
130,423 |
|
|
— |
U.S. government agency securities |
|
|
48,189 |
|
|
— |
|
|
48,189 |
|
|
— |
Total assets |
|
$ |
189,755 |
|
$ |
11,143 |
|
$ |
178,612 |
|
$ |
— |
|
| Summary of Fair Value of Company's Marketable Securities By Type |
The following tables summarize the fair value of the Company’s marketable securities by type for each of the periods indicated (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
|
Amortized Cost |
|
Gross
Unrealized Gains |
|
Gross
Unrealized Losses |
|
Fair Market Value |
Corporate debt securities |
|
$ |
53,896 |
|
$ |
92 |
|
$ |
(19) |
|
$ |
53,969 |
U.S. government agency securities |
|
|
16,855 |
|
|
48 |
|
|
— |
|
|
16,903 |
Total |
|
$ |
70,751 |
|
$ |
140 |
|
$ |
(19) |
|
$ |
70,872 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of April 30, 2025 |
|
|
Amortized Cost |
|
Gross
Unrealized Gains |
|
Gross
Unrealized Losses |
|
Fair Market Value |
Corporate debt securities |
|
$ |
74,150 |
|
$ |
1,093 |
|
$ |
— |
|
$ |
75,243 |
U.S. government agency securities |
|
|
13,594 |
|
|
165 |
|
|
— |
|
|
13,759 |
Total |
|
$ |
87,744 |
|
$ |
1,258 |
|
$ |
— |
|
$ |
89,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of April 30, 2024 |
|
|
Amortized Cost |
|
Gross
Unrealized Gains |
|
Gross
Unrealized Losses |
|
Fair Market Value |
Corporate debt securities |
|
$ |
130,099 |
|
$ |
600 |
|
$ |
(276) |
|
$ |
130,423 |
U.S. government agency securities |
|
|
48,228 |
|
|
83 |
|
|
(122) |
|
|
48,189 |
Total |
|
$ |
178,327 |
|
$ |
683 |
|
$ |
(398) |
|
$ |
178,612 |
|
| Summary of Scheduled Maturity for Marketable Securities |
The following table summarizes the scheduled maturity for the Company’s marketable securities at December 31, 2025 (in thousands):
|
|
|
|
Maturing in one year or less |
|
$ |
24,169 |
Maturing after one year through two years |
|
|
39,390 |
Maturing after two years through four years |
|
|
7,313 |
Total |
|
$ |
70,872 |
|