| Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis |
The following table sets forth by level, within the fair value hierarchy, the financial assets and liabilities carried at fair value on a recurring basis (in thousands):
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Fair value measurements as of March 31, 2026 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Financial assets: |
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Money market funds |
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$ |
371,130 |
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$ |
— |
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$ |
— |
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$ |
371,130 |
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Marketable securities: |
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Commercial paper |
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— |
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35,188 |
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— |
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35,188 |
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Treasury bills |
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87,731 |
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— |
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— |
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87,731 |
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Corporate debt securities |
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— |
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18,563 |
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— |
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18,563 |
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Agency bonds |
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— |
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25,372 |
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— |
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25,372 |
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Total marketable securities |
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87,731 |
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79,123 |
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— |
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166,854 |
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Restricted cash equivalents |
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1,149 |
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— |
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— |
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1,149 |
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Total financial assets |
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$ |
460,010 |
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$ |
79,123 |
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$ |
— |
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$ |
539,133 |
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Fair value measurements as of December 31, 2025 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Financial assets: |
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Money market funds |
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$ |
37,284 |
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$ |
— |
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$ |
— |
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$ |
37,284 |
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Marketable securities: |
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Commercial paper |
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— |
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55,292 |
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— |
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55,292 |
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Treasury bills |
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87,973 |
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— |
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— |
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87,973 |
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Corporate debt securities |
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— |
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18,529 |
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— |
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18,529 |
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Agency bonds |
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— |
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27,209 |
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— |
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27,209 |
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Total marketable securities |
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87,973 |
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101,030 |
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— |
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189,003 |
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Restricted cash equivalents |
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1,149 |
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— |
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— |
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1,149 |
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Total financial assets |
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$ |
126,406 |
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$ |
101,030 |
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$ |
— |
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$ |
227,436 |
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