Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables set forth by level within the fair value hierarchy our assets and liabilities that are measured on a recurring basis and reported at fair value as of March 31, 2026 and December 31, 2025 (in thousands).


		As of March 31, 2026
		Level 1				Level 2				Level 3				Total
Cash and Cash Equivalents:
Money market funds		$	2,912			$	—			$	—			$	2,912
U.S. Treasury debt securities		$	76,696			$	—			$	—			$	76,696
Debt:
Term Loans		$	—			$	40,533			$	—			$	40,533
Other noncurrent liabilities:
Common stock warrants		$	—			$	—			$	30			$	30


		As of December 31, 2025
		Level 1				Level 2				Level 3				Total
Cash and Cash Equivalents:
Money market funds		$	1,239			$	—			$	—			$	1,239
U.S. Treasury debt securities		$	82,668			$	—			$	—			$	82,668
Debt:
Term Loans		$	—			$	40,300			$	—			$	40,300
Other noncurrent liabilities:
Common stock warrants		$	—			$	—			$	30			$	30

Summary of Held-to-maturity debt securities at amortized cost in the financial statements.

The Company's investments in U.S. treasury securities are classified as held-to-maturity and all have been purchased with original maturities of 90 days or less. Held-to-maturity debt securities are recorded at amortized cost in the financial statements. The following tables set forth the unrealized gains on held-to-maturity U.S. treasury securities as of March 31, 2026 and December 31, 2025 (in thousands).


		March 31, 2026
		Amortized Cost				Unrealized Gains				Unrealized Losses				Aggregate Fair Value
U.S. treasury securities		$	76,698			$	2			$	(4	)		$	76,696


		December 31, 2025
		Amortized Cost				Unrealized Gains				Unrealized Losses				Aggregate Fair Value
U.S. treasury securities		$	82,646			$	22			$	—			$	82,668