Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis


			March 31, 2026
(in thousands)		Level 1					Level 2					Level 3					Total
Financial Assets
Cash		$		13,642					—					—			$		13,642
Money market funds				39,058					—					—					39,058
Commercial paper				—					109,328					—					109,328
Corporate bonds				—					83,275					—					83,275
U.S. government treasury bills				219,253					—					—					219,253
Government-sponsored enterprise securities				—					40,944					—					40,944
Total		$		271,953			$		233,547			$		—			$		505,500


			December 31, 2025
(in thousands)		Level 1					Level 2					Level 3					Total
Financial Assets
Cash		$		16,007			$		—			$		—			$		16,007
Money market funds				30,866					—					—					30,866
Commercial paper				—					102,193					—					102,193
Corporate bonds				—					81,607										81,607
U.S. government treasury bills				233,938					—					—					233,938
Government-sponsored enterprise securities				—					41,029					—					41,029
Total		$		280,811			$		224,829			$		—			$		505,640

Schedule of Financial Assets Reconciliation


		March 31, 2026
							Gross					Gross
		Amortized					Unrealized					Unrealized					Estimated
(in thousands)		Cost					Gains					Losses					Fair Value
Financial Assets
Cash and cash equivalents		$		52,700					—								$		52,700
Short-term marketable securities (<12 months to maturity)				321,016					168					(175	)				321,009
Long-term marketable securities (>12 months to maturity)				132,224					—					(433	)				131,791
Total		$		505,940			$		168			$		(608	)		$		505,500


		December 31, 2025
							Gross					Gross
		Amortized					Unrealized					Unrealized					Estimated
(in thousands)		Cost					Gains					Losses					Fair Value
Financial Assets
Cash and cash equivalents		$		48,503			$		—			$		—			$		48,503
Short-term marketable securities (<12 months to maturity)				300,243					501					(12	)				300,732
Long-term marketable securities (>12 months to maturity)				156,273					160					(28	)				156,405
Total		$		505,019			$		661			$		(40	)		$		505,640