The following tables show the Company’s short-term investments and cash equivalents by significant investment category as of March 31, 2026 and December 31, 2025 (in thousands):


		As of March 31, 2026								As of December 31, 2025
		Adjusted Cost		Unrealized Gains		Unrealized Losses		Market Value		Adjusted Cost		Unrealized Gains		Unrealized Losses		Market Value
Money Market Funds	Level 1	$	13,747	$	—	$	—	$	13,747	$	24,811	$	—	$	—	$	24,811
U.S. Treasury securities	Level 2	19,109		—		(65)		19,044		8,064		2		(1)		8,065
U.S. Government agency securities	Level 2	3,010		—		(5)		3,005		1,001		—		—		1,001
Corporate debt securities	Level 2	126,925		—		(272)		126,653		139,941		26		(42)		139,925
Total financial assets		$	162,791	$	—	$	(342)	$	162,449	$	173,817	$	28	$	(43)	$	173,802


	As of March 31, 2026								As of December 31, 2025
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Market Value		Adjusted Cost		Unrealized Gains		Unrealized Losses		Market Value
Classified as:
Cash equivalents	$	13,747	$	—	$	—	$	13,747	$	28,303	$	—	$	—	$	28,303
Short-term investments	149,044		—		(342)		148,702		145,514		28		(43)		145,499
Total	$	162,791	$	—	$	(342)	$	162,449	$	173,817	$	28	$	(43)	$	173,802