v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following tables summarize financial assets that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

 

March 31, 2026

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds (included in cash and cash equivalents)

 

$

23,503

 

 

$

23,503

 

 

$

—

 

 

$

—

 

U.S. government bonds

 

 

59,659

 

 

 

—

 

 

 

59,659

 

 

 

—

 

Government agency obligations

 

 

18,306

 

 

 

—

 

 

 

18,306

 

 

 

—

 

Corporate debt obligations

 

 

18,700

 

 

 

—

 

 

 

18,700

 

 

 

—

 

Commercial paper

 

 

18,191

 

 

 

—

 

 

 

18,191

 

 

 

—

 

Total fair value of assets

 

$

138,359

 

 

$

23,503

 

 

$

114,856

 

 

$

—

 

 

 

December 31, 2025

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds (included in cash and cash equivalents)

 

$

40,721

 

 

$

40,721

 

 

$

—

 

 

$

—

 

U.S. government bonds

 

 

72,177

 

 

 

—

 

 

 

72,177

 

 

 

—

 

Government agency obligations

 

 

15,825

 

 

 

—

 

 

 

15,825

 

 

 

—

 

Corporate debt obligations

 

 

15,211

 

 

 

—

 

 

 

15,211

 

 

 

—

 

Commercial paper

 

 

15,864

 

 

 

—

 

 

 

15,864

 

 

 

—

 

Total fair value of assets

 

$

159,798

 

 

$

40,721

 

 

$

119,077

 

 

$

—