| Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:
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March 31, 2026 |
|
(in thousands) |
|
Level 1 |
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|
Level 2 |
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|
Level 3 |
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|
Total |
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|
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Cash equivalents |
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|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
167,627 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
167,627 |
|
U.S. Treasury bills |
|
|
— |
|
|
|
1,996 |
|
|
|
— |
|
|
|
1,996 |
|
Total cash equivalents |
|
|
167,627 |
|
|
|
1,996 |
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|
|
— |
|
|
|
169,623 |
|
Marketable securities |
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|
|
|
|
|
|
|
|
|
|
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Corporate bonds |
|
|
— |
|
|
|
108,346 |
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|
|
— |
|
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|
108,346 |
|
U.S. Treasury bills |
|
|
— |
|
|
|
54,904 |
|
|
|
— |
|
|
|
54,904 |
|
U.S. Treasuries |
|
|
— |
|
|
|
155,901 |
|
|
|
— |
|
|
|
155,901 |
|
Yankee bonds |
|
|
— |
|
|
|
2,501 |
|
|
|
— |
|
|
|
2,501 |
|
Total marketable securities |
|
|
— |
|
|
|
321,652 |
|
|
|
— |
|
|
|
321,652 |
|
Restricted cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
|
168 |
|
|
|
— |
|
|
|
— |
|
|
|
168 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Warrant liabilities |
|
|
— |
|
|
|
638,461 |
|
|
|
— |
|
|
|
638,461 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
December 31, 2025 |
|
(in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
392,803 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
392,803 |
|
U.S. Treasury bills |
|
|
— |
|
|
|
3,434 |
|
|
|
— |
|
|
|
3,434 |
|
Total cash equivalents |
|
|
392,803 |
|
|
|
3,434 |
|
|
|
— |
|
|
|
396,237 |
|
Marketable securities |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury bills |
|
|
— |
|
|
|
13,642 |
|
|
|
— |
|
|
|
13,642 |
|
U.S. Treasuries |
|
|
— |
|
|
|
45,080 |
|
|
|
— |
|
|
|
45,080 |
|
Total marketable securities |
|
|
— |
|
|
|
58,722 |
|
|
|
— |
|
|
|
58,722 |
|
Restricted cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
|
168 |
|
|
|
— |
|
|
|
— |
|
|
|
168 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Warrant liabilities |
|
|
— |
|
|
|
600,547 |
|
|
|
— |
|
|
|
600,547 |
|
|