All of the Company's marketable securities are classified as available-for-sale. The amortized cost, gross unrealized gains, gross unrealized losses, and fair value of the Company’s marketable securities, by major security type, were as follows (in thousands):


	As of March 31, 2026
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	6,474	$	—	$	(1)	$	6,473
U.S. Treasuries	25,336		27		—		25,363
U.S. Government agency bonds	6,028		1		(3)		6,026
Corporate bonds	25,278		—		(57)		25,221
Total marketable securities	$	63,116	$	28	$	(61)	$	63,083


	As of December 31, 2025
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	12,875	$	2	$	—	$	12,877
U.S. Treasuries	29,572		78		—		29,650
U.S. Government agency bonds	13,588		7		(1)		13,594
Corporate bonds	32,279		13		(20)		32,272
Total marketable securities	$	88,314	$	100	$	(21)	$	88,393

The following tables present the fair value and gross unrealized losses of the Company’s marketable securities aggregated by major security type and length of time that the individual securities have been in a continuous unrealized loss position (in thousands):


	Less Than 12 Months				Greater Than 12 Months
As of March 31, 2026	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Commercial paper	$	6,473	$	(1)	$	—	$	—
U.S. Government agency bonds	1,449		(2)		2,596		(1)
Corporate bonds	25,221		(57)		—		—
Total	$	33,143	$	(60)	$	2,596	$	(1)


	Less Than 12 Months				Greater Than 12 Months
As of December 31, 2025	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government agency bonds	$	450	$	—	$	3,589	$	(1)
Corporate bonds	19,759		(20)		—		—
Total	$	20,209	$	(20)	$	3,589	$	(1)

For marketable securities in an unrealized loss position, the Company does not intend to sell them, it is not more likely than not that the Company will be required to sell them before recovery of their amortized cost bases, and the unrealized losses are not credit related. Accordingly, the Company has not recorded any impairment losses or a credit loss allowance.

The Company did not sell any marketable securities or record any realized gains or losses for the three months ended March 31, 2026. Realized gains or losses for the three months ended March 31, 2025 were not material.

At March 31, 2026 and December 31, 2025, the Company had $0.5 million and $0.7 million, respectively, of accrued interest receivable on its marketable securities, which was recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets.

The following table summarizes the contractual maturities of the Company’s marketable securities (in thousands):


	As of March 31, 2026				As of December 31, 2025
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	50,330	$	50,327	$	71,054	$	71,141
Due in one to two years	12,786		12,756		17,260		17,252
Total	$	63,116	$	63,083	$	88,314	$	88,393