All marketable securities were considered available-for-sale as of December 31, 2025. The Company did not hold any investments in marketable securities as of December 31, 2024. On a recurring basis, the Company records its marketable securities at fair value using Level 1 or Level 2 inputs as discussed in Note 3, Fair value measurements. The amortized cost, gross unrealized holding gains, and fair value of the Company’s marketable securities by major security type as of December 31, 2025 are summarized in the table below:


	December 31, 2025
	(in thousands)
	Amortized Cost		Unrealized Gains		Unrealized Losses		Aggregate Estimated Fair Value
Marketable securities, current
U.S. treasury securities	$	121,246	$	93	$	—	$	121,339
U.S. government agency securities		23,467		9		—		23,476
Commercial paper		5,874		2		—		5,876
Corporate debt securities		1,979		—		—		1,979
Total short-term marketable securities		152,566		104		—		152,670
Marketable securities, non-current
U.S. treasury securities		18,108		6		—		18,114
Total long-term marketable securities		18,108		6		—		18,114
Total	$	170,674	$	110	$	—	$	170,784

Interest receivable as of December 31, 2025 was $1.5 million and is recorded as a component of prepaid expenses and other current assets on the Company’s balance sheets. The Company had no interest receivable as of December 31, 2024.

As of December 31, 2025, none of the Company's marketable securities were in an unrealized loss position. The Company has not recognized an allowance for credit losses as of December 31, 2025. As of December 31, 2025, all of the Company’s marketable securities have a remaining contractual maturity of less than two years.