v3.26.1
Short-term Investments (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of Major Security Type of Investments

The Company’s investment policy seeks to preserve capital and maintain sufficient liquidity to meet operational and other needs of the business. The following table summarizes, by major security type, the Company’s investments (in thousands):

 

As of March 31, 2026

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Short-term investments

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

 

$

163,996

 

 

$

—

 

 

$

(15

)

 

$

163,981

 

Total short-term investments

 

$

163,996

 

 

$

—

 

 

$

(15

)

 

$

163,981

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2025

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Short-term investments

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

 

$

202,290

 

 

$

232

 

 

$

—

 

 

$

202,522

 

Total short-term investments

 

$

202,290

 

 

$

232

 

 

$

—

 

 

$

202,522