Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

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

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):


		Fair value measurements as of March 31, 2026
		Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	109,746			$	—			$	—			$	109,746
Marketable securities:
U.S. government agency debt securities			—				226,466				—				226,466
Corporate debt securities			—				161,884				—				161,884
Commercial paper			—				81,745				—				81,745
Total assets		$	109,746			$	470,095			$	—			$	579,841


		Fair value measurements as of December 31, 2025
		Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	104,212			$	—			$	—			$	104,212
Corporate debt securities			—				27,353				—				27,353
Commercial paper			—				25,922				—				25,922
Marketable securities:
U.S. government agency debt securities			—				231,915				—				231,915
Corporate debt securities			—				167,268				—				167,268
Commercial paper			—				93,278				—				93,278
Total assets		$	104,212			$	545,736			$	—			$	649,948