| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
The following fair value hierarchy table presents information about the Company’s financial assets measured and carried at fair value (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measurement at reporting date using | | Quoted prices
in active markets for
identical assets
(Level 1) | | Significant
other
observable inputs (Level 2) | | Significant
unobservable inputs
(Level 3) | | Total | | March 31, 2026 | | | | | | | | | Assets | | | | | | | | | Money Market fund | $ | 606 | | | $ | — | | | $ | — | | | $ | 606 | | U.S. Treasury and government agency securities | $ | 49,942 | | | 238,922 | | | — | | | 288,864 | | | Corporate debt securities | — | | | 178,002 | | | — | | | 178,002 | | | Commercial Paper | — | | | 9,834 | | | — | | | 9,834 | | | Municipal bonds | — | | | 4,553 | | | — | | | 4,553 | | Total | $ | 50,548 | | | $ | 431,311 | | | $ | — | | | $ | 481,859 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair value measurement at reporting date using | | Quoted prices
in active markets for
identical assets
(Level 1) | | Significant
other
observable inputs (Level 2) | | Significant
unobservable inputs
(Level 3) | | Total | | December 31, 2025 | | | | | | | | Assets | | | | | | | | | Money Market fund | $ | 23,970 | | | $ | — | | | $ | — | | | $ | 23,970 | | | U.S. Treasury and government agency securities | 59,842 | | | 247,890 | | | — | | | 307,732 | | | Corporate debt securities | — | | | 183,456 | | | — | | | 183,456 | | | Commercial Paper | — | | | 34,616 | | | — | | | 34,616 | | | Total | $ | 83,812 | | | $ | 465,962 | | | $ | — | | | $ | 549,774 | |
|
| Schedule of Debt Securities, Fair Value of U.S. Treasury Securities and Money Market Fund |
The following represents the amortized cost bases and fair values of the Company’s fixed income investments as of March 31, 2026 (amounts in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Money Market fund, included in Cash and cash equivalents | $ | 606 | | | $ | — | | | $ | — | | | $ | 606 | | | | | | | | | | | U.S. Treasury and government agency securities, included in: | | | | | | | | | Cash and cash equivalents | $ | 9,979 | | | $ | — | | | $ | (1) | | | $ | 9,978 | | | Short-term investments | 117,574 | | | 30 | | | (50) | | | 117,554 | | | Long-term investments | 161,784 | | | 1 | | | (453) | | | 161,332 | | | Total U.S. Treasury and government agency securities | $ | 289,337 | | | $ | 31 | | | $ | (504) | | | $ | 288,864 | | | | | | | | | | | Corporate debt securities, included in: | | | | | | | | | Short-term investments | $ | 86,741 | | | $ | 65 | | | $ | (36) | | | $ | 86,770 | | | Long-term investments | 91,453 | | | 83 | | | (304) | | | 91,232 | | | Total Corporate debt securities | $ | 178,194 | | | $ | 148 | | | $ | (340) | | | $ | 178,002 | | | | | | | | | | | Commercial paper, included in: | | | | | | | | | Short-term investments | $ | 9,841 | | | $ | — | | | $ | (7) | | | $ | 9,834 | | | Total Commercial paper | $ | 9,841 | | | $ | — | | | $ | (7) | | | $ | 9,834 | | | | | | | | | | | Municipal bonds, included in: | | | | | | | | | Long-term investments | $ | 4,586 | | | $ | — | | | $ | (33) | | | $ | 4,553 | | | Total Municipal bonds | $ | 4,586 | | | $ | — | | | $ | (33) | | | $ | 4,553 | | | | | | | | | | In aggregate: | | | | | | | | Investments above with no unrealized loss | $ | 105,039 | | | $ | 179 | | | $ | — | | | $ | 105,218 | | Investments above with unrealized loss | $ | 377,525 | | | $ | — | | | $ | (884) | | | $ | 376,641 | | Total investments | $ | 482,564 | | | $ | 179 | | | $ | (884) | | | $ | 481,859 | |
The following represents the amortized cost bases and fair values of the Company’s investments and money market fund as of December 31, 2025 (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Money Market fund, included in Cash and cash equivalents | $ | 23,970 | | | $ | — | | | $ | — | | | $ | 23,970 | | | | | | | | | | | U.S. Treasury and government agency securities, included in: | | | | | | | | | | | | | | | | | Cash and cash equivalents | $ | 9,974 | | | $ | 1 | | | $ | — | | | $ | 9,975 | | | Short-term investments | 134,625 | | | 73 | | | (21) | | | 134,677 | | | Long-term investments | 163,141 | | | 27 | | | (88) | | | 163,080 | | | Total U.S. Treasury and government agency securities | $ | 307,740 | | | $ | 101 | | | $ | (109) | | | $ | 307,732 | | | | | | | | | | | Corporate debt securities, included in: | | | | | | | | | Short-term investments | $ | 63,847 | | | $ | 141 | | | $ | — | | | $ | 63,988 | | | Long-term investments | 119,279 | | | 252 | | | (63) | | | 119,468 | | | Total Corporate debt securities | $ | 183,126 | | | $ | 393 | | | $ | (63) | | | $ | 183,456 | | | | | | | | | | | Commercial paper, included in: | | | | | | | | | | | | | | | | | Short-term investments | $ | 34,605 | | | $ | 11 | | | $ | — | | | $ | 34,616 | | | Total Commercial paper | $ | 34,605 | | | $ | 11 | | | $ | — | | | $ | 34,616 | | | | | | | | | | | In aggregate: | | | | | | | | | Investments above with no unrealized loss | $ | 309,888 | | | $ | 505 | | | $ | — | | | $ | 310,393 | | | Investments above with unrealized loss | 239,553 | | | — | | | (172) | | | 239,381 | | | Total investments | $ | 549,441 | | | $ | 505 | | | $ | (172) | | | $ | 549,774 | |
|