The following tables summarize the amortized cost and fair value of the Company’s cash equivalents and marketable securities by major investment category for the periods indicated:


	December 31, 2025
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	74,364	$	—	$	—	$	74,364
Total cash equivalents	$	74,364	$	—	$	—	$	74,364


	December 31, 2024
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	94,411	$	—	$	—		$	94,411
Commercial paper		30,875		6		—			30,881
Total cash equivalents	$	125,286	$	6	$	—		$	125,292
Marketable securities:
Commercial paper	$	61,374	$	11	$	(2	)	$	61,383
Certificates of deposit		1,918.0		—		—			1,918.0
U.S. government securities		74,411		36		(3	)		74,444
Corporate debt securities		27,671		17		(3	)		27,685
Total marketable securities		165,374		64		(8	)		165,430
Total cash equivalents and marketable securities	$	290,660	$	70	$	(8	)	$	290,722

As of December 31, 2025, the Company does not hold any marketable securities and the Company’s cash equivalents consist of money market funds, which are highly liquid investments with original maturities of three months or less. The Company has not realized any material gains or losses on its marketable securities, including any impairment charges on its securities related to expected credit losses.