v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements . Fair Value Measurements

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

 

 

Fair Value Measurements at March 31, 2026 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

7,998

 

 

$

—

 

 

$

—

 

 

$

7,998

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

72,838

 

 

 

—

 

 

 

—

 

 

 

72,838

 

Corporate bonds

 

 

—

 

 

 

65,111

 

 

 

—

 

 

 

65,111

 

U.S. government agency debt securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total marketable securities

 

 

72,838

 

 

 

65,111

 

 

 

—

 

 

 

137,949

 

Total assets

 

$

80,836

 

 

$

65,111

 

 

$

—

 

 

$

145,947

 

 

 

 

Fair Value Measurements at December 31, 2025 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

35,320

 

 

$

—

 

 

$

—

 

 

$

35,320

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

39,473

 

 

 

—

 

 

 

—

 

 

 

39,473

 

Corporate bonds

 

 

—

 

 

 

82,494

 

 

 

—

 

 

 

82,494

 

U.S. government agency debt securities

 

 

—

 

 

 

3,000

 

 

 

—

 

 

 

3,000

 

Total marketable securities

 

 

39,473

 

 

 

85,494

 

 

 

—

 

 

 

124,967

 

Total assets

 

$

74,793

 

 

$

85,494

 

 

$

—

 

 

$

160,287

 

Cash equivalents and U.S. Treasury securities were valued by the Company based on quoted market prices for identical securities, which represent a Level 1 measurement within the fair value hierarchy. Corporate bonds and agency securities were valued by the Company using quoted prices in active markets for similar securities, which represent a Level 2 measurement within the fair value hierarchy. There were no transfers into or out of Level 3 for any of the periods presented.