Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables provides information by level for the Company’s assets that were measured at fair value on a recurring basis (in thousands):


	March 31, 2026
	Level 1		Level 2		Total
Assets
Cash and cash equivalents:
Money market funds	$	60,427	$	—	$	60,427

Short-term investments:
Commercial paper	—		30,420		30,420
Corporate debt securities	—		63,978		63,978
Total short-term investments	—		94,398		94,398
Total financial assets	$	60,427	$	94,398	$	154,825


	December 31, 2025
	Level 1		Level 2		Total
Assets
Cash and cash equivalents:
Money market funds	$	54,475	$	—	$	54,475
Short-term investments:
Commercial paper	—		68,326		68,326
Corporate debt securities	—		72,846		72,846
Total short-term investments	—		141,172		141,172
Total financial assets	$	54,475	$	141,172	$	195,647

Schedule of Outstanding Derivative Instruments

The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in its condensed consolidated balance sheets as of March 31, 2026 (in thousands):


	At March 31, 2026
	Notional Amount		Balance Sheet Line Item	Derivative Liabilities Fair Value
Undesignated hedges: Forward foreign currency exchange contracts	$	4,500	(a)	$	99

(a) Other current liabilities