v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Measurements  
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The Company’s assets measured at fair value on a recurring basis as of March 31, 2026, consisted of the following (in thousands):

Fair Value Measurement at March 31, 2026

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Assets:

Cash equivalents - money market funds

$

78,518

$

78,518

$

$

Short-term investments

 

233,939

 

 

233,939

 

Total

$

312,457

$

78,518

$

233,939

$

The Company’s assets measured at fair value on a recurring basis as of December 31, 2025, consisted of the following (in thousands):

Fair Value Measurement at December 31, 2025

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Assets:

Cash equivalents - money market funds

$

23,780

$

23,780

$

$

Cash equivalents - commercial paper

5,969

5,969

Short-term investments

 

229,696

 

 

229,696

 

Total

$

259,445

$

23,780

$

235,665

$

Schedule of Short Term Investments

Short-term investments with quoted prices as of March 31, 2026, as shown below (in thousands):

March 31, 2026

Unrealized Gain

Unrealized Gain

Amortized Cost

Unrealized (Loss) Gain

Credit loss

Market Value

United States treasury securities

  ​ ​ ​

$

88,345

  ​ ​ ​

$

(60)

  ​ ​ ​

$

  ​ ​ ​

$

88,285

Commercial paper and corporate debt securities

132,307

(120)

132,187

Asset backed securities

 

7,510

 

(2)

 

 

7,508

Agency debt securities

5,961

(2)

5,959

Total

$

234,123

$

(184)

$

$

233,939

Short-term investments with quoted prices as of December 31, 2025, as shown below (in thousands):

December 31, 2025

Unrealized Gain

Unrealized Gain

Amortized Cost

Unrealized (Loss) Gain

Credit Loss

Market Value

United States treasury securities

  ​ ​ ​

$

83,730

  ​ ​ ​

$

62

  ​ ​ ​

$

  ​ ​ ​

$

83,792

Commercial paper and corporate debt securities

127,934

41

127,975

Asset backed securities

 

8,000

 

7

 

 

8,007

Agency debt securities

9,920

2

9,922

Total

$

229,584

$

112

$

$

229,696