v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value and Classification of Instruments The fair value of these assets and liabilities as of March 31, 2026 and December 31, 2025 are classified as follows (in thousands):
As of March 31, 2026
Level 1Level 2Level 3Total
Assets:
Money market funds$239,367 $— $— $239,367 
Short-term investments
— 106,104 — 106,104 
Convertible Note Investment
— — 20,876 20,876 
Total assets$239,367 $106,104 $20,876 $366,347 
As of December 31, 2025
Level 1Level 2Level 3Total
Assets:
Money market funds$332,808 $— $— $332,808 
Convertible Note Investment— — 24,726 24,726 
Total assets$332,808 $— $24,726 $357,534 
Schedule of Change in Fair Value of Level 3 Instruments
The change in fair value of the Level 3 instruments are as follows (in thousands):
As of March 31, 2026
Convertible Note Investment
Fair value, beginning of the year
$24,726 
Changes in fair value(3,850)
Fair value, end of period
$20,876