A summary of the assets that are measured at fair value as of March 31, 2026 and December 31, 2025 is as follows (in thousands):
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Fair Value Measurement at
March 31, 2026 |
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Assets: |
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Carrying
Value |
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Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) |
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Significant
other
Observable
Inputs
(Level 2) |
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Significant
Unobservable
Inputs
(Level 3) |
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Money market funds(1) |
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$ |
202,396 |
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$ |
202,396 |
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$ |
— |
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$ |
— |
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Total |
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$ |
202,396 |
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$ |
202,396 |
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$ |
— |
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$ |
— |
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Liabilities: |
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Paramora warrant obligation |
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$ |
4,984 |
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$ |
— |
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$ |
4,984 |
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$ |
— |
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Total |
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$ |
4,984 |
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$ |
— |
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$ |
4,984 |
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$ |
— |
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Fair Value Measurement at
December 31, 2025 |
|
Assets: |
|
Carrying
Value |
|
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) |
|
|
Significant
other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
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Money market funds(1) |
|
$ |
200,628 |
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|
$ |
200,628 |
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|
$ |
— |
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$ |
— |
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Total |
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$ |
200,628 |
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|
$ |
200,628 |
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$ |
— |
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$ |
— |
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(1)Money market funds with maturities of 90 days or less at the date of purchase are included within cash and cash equivalents in the accompanying consolidated balance sheets and are recognized at fair value.
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