v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements
3. Fair Value Measurements
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of March 31, 2026
and
December 31, 2025 (in thousands):
 
 
  
March 31, 2026
 
 
  
Quoted
Prices in
Active
Markets
(Level 1)
 
  
Significant
Observable
Inputs
(Level 2)
 
  
Significant
Unobservable
Inputs

(Level 3)
 
  
Total
 
Marketable securities:
  
  
  
  
U.S. treasury securities
   
$
— 
 
   
$
98,281
 
   
 
— 
 
   
$
98,281
 
Non-U.S. debt securities
   
 
— 
 
   
 
15,390
 
   
 
— 
 
   
 
15,390
 
  
 
 
     
 
 
     
 
 
     
 
 
  
Total assets measured at fair value
   
$
— 
 
   
$
113,671
 
   
$
— 
 
   
$
113,671
 
  
 
 
     
 
 
     
 
 
     
 
 
  
 
 
  
December 31, 2025
 
 
  
Quoted
Prices in
Active
Markets
(Level 1)
 
  
Significant
Observable
Inputs
(Level 2)
 
  
Significant
Unobservable
Inputs

(Level 3)
 
  
Total
 
Cash equivalents:
  
  
  
  
Certificates of deposit
   
$
— 
 
   
$
50,930
 
   
 
— 
 
   
$
50,930
 
Non-U.S.
debt securities
   
 
— 
 
   
 
17,638
 
   
 
— 
 
   
 
17,638
 
Marketable securities:
            
U.S. treasury securities
   
$
— 
 
   
$
97,511
 
   
$
— 
 
   
$
97,511
 
  
 
 
     
 
 
     
 
 
     
 
 
  
Total assets measured at fair value
   
$
— 
 
   
$
166,079
 
   
$
— 
 
   
$
166,079
 
  
 
 
     
 
 
     
 
 
     
 
 
  
The Company’s cash equivalents and marketable securities were valued based on Level 2 inputs and in determining the fair value the Company relied on quoted prices for similar securities in active markets or other inputs that are observable or can be corroborated by observable market data.