v3.26.1
Cash and Cash Equivalents, Investments and Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents, Investments and Fair Value Measurements Cash and Cash Equivalents, Investments and Fair Value Measurements
The following tables present our cash and cash equivalents, and investments’ fair value level classification, adjusted cost, unrealized gain, unrealized loss and fair value (in thousands):
 March 31, 2026
 Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:   
Cash$15,477 $— $— $15,477 
Money market fundsLevel 118,049 — — 18,049 
Total cash and cash equivalents$33,526 $— $— $33,526 
Short-term investments:   
Corporate debt securitiesLevel 2$32,431 $42 $(85)$32,388 
Long-term investments:   
Corporate debt securitiesLevel 2$1,974 $10 $— $1,984 

 December 31, 2025
 Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:   
Cash$16,942 $— $— $16,942 
Money market fundsLevel 114,204 — — 14,204 
Total cash and cash equivalents$31,146 $— $— $31,146 
Short-term investments:   
Corporate debt securitiesLevel 2$41,549 $125 $— $41,674 
Long-term investments:   
Corporate debt securitiesLevel 2$12,290 $102 $— $12,392 

During the three months ended March 31, 2026 and 2025, we did not recognize any losses on our investments due to credit related factors and our realized gains and losses on investments were not significant.

The following table presents our cash equivalents and investments' adjusted cost and fair value by contractual maturity (in thousands):
 Adjusted CostFair Value
Due within one year$32,431 $32,388 
Due after one year through three years1,974 1,984 
Investments not due at a single maturity date18,049 18,049 
Total$52,454 $52,421 

Investments not due at a single maturity date in the preceding table consisted of money market funds.
Financial Instruments Not Recorded at Fair Value on a Recurring Basis

We report our financial instruments at fair value with the exception of the 2026 notes. The estimated fair value was determined based on the trading price as of the last day of trading for the period and we consider it to be a Level 2 measurement due to the limited trading activity. The estimated fair value of the 2026 notes as of March 31, 2026 and December 31, 2025 was $32.3 million and $45.0 million, respectively. For further information on the 2026 notes, refer to Note 6, “Convertible Senior Notes.”