Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):


	March 31, 2026
	Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents – money market funds	$	274,210			$	274,210			$	—			$	—
Total assets	$	274,210			$	274,210			$	—			$	—
Liabilities:
Trinity Term Loans	$	48,961			$	—			$	—			$	48,961
Success Fee Derivative liabilities		1,582				—				—				1,582
Total liabilities	$	50,543			$	—			$	—			$	50,543


	December 31, 2025
	Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents – money market funds	$	317,127			$	317,127			$	—			$	—
Total assets	$	317,127			$	317,127			$	—			$	—
Liabilities:
Trinity Term Loans	$	50,106			$	—			$	—			$	50,106
Success Fee Derivative liability		1,552				—				—				1,552
Total liabilities	$	51,658			$	—			$	—			$	51,658