| Summary of Marketable Securities by Security Type |
The following tables set forth marketable securities for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
(in thousands) |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Total |
|
Commercial paper |
|
|
18,078 |
|
|
|
2 |
|
|
|
(17 |
) |
|
|
18,063 |
|
Corporate debt securities |
|
|
164,363 |
|
|
|
38 |
|
|
|
(282 |
) |
|
|
164,119 |
|
Certificates of deposit |
|
|
10,647 |
|
|
|
— |
|
|
|
(8 |
) |
|
|
10,639 |
|
U.S. Treasury notes |
|
|
29,626 |
|
|
|
13 |
|
|
|
(99 |
) |
|
|
29,540 |
|
Total |
|
$ |
222,714 |
|
|
$ |
53 |
|
|
$ |
(406 |
) |
|
$ |
222,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
(in thousands) |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Total |
|
Commercial paper |
|
|
7,736 |
|
|
|
8 |
|
|
|
— |
|
|
|
7,744 |
|
Corporate debt securities |
|
|
175,401 |
|
|
|
343 |
|
|
|
(6 |
) |
|
|
175,738 |
|
Certificates of deposit |
|
|
10,181 |
|
|
|
9 |
|
|
|
— |
|
|
|
10,190 |
|
U.S. Treasury notes |
|
|
23,400 |
|
|
|
121 |
|
|
|
— |
|
|
|
23,521 |
|
Total |
|
$ |
216,718 |
|
|
$ |
481 |
|
|
$ |
(6 |
) |
|
$ |
217,193 |
|
|
| Summary of Assets Carried at Fair Value on Recurring Basis |
The following tables set forth by level, within the fair value hierarchy (see Note 2), the assets carried at fair value on a recurring basis for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements as of June 30, 2026 |
|
(in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
179,771 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
179,771 |
|
Marketable securities |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
|
— |
|
|
|
18,063 |
|
|
|
— |
|
|
|
18,063 |
|
Corporate debt securities |
|
|
— |
|
|
|
164,119 |
|
|
|
— |
|
|
|
164,119 |
|
Certificates of deposit |
|
|
— |
|
|
|
10,639 |
|
|
|
— |
|
|
|
10,639 |
|
U.S. Treasury notes |
|
|
29,540 |
|
|
|
— |
|
|
|
— |
|
|
|
29,540 |
|
Total |
|
$ |
209,311 |
|
|
$ |
192,821 |
|
|
$ |
— |
|
|
$ |
402,132 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements as of December 31, 2025 |
|
(in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
278,133 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
278,133 |
|
Marketable securities |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
|
— |
|
|
|
7,744 |
|
|
|
— |
|
|
|
7,744 |
|
Corporate debt securities |
|
|
— |
|
|
|
175,738 |
|
|
|
— |
|
|
|
175,738 |
|
Certificates of deposit |
|
|
— |
|
|
|
10,190 |
|
|
|
— |
|
|
|
10,190 |
|
U.S. Treasury notes |
|
|
23,521 |
|
|
|
— |
|
|
|
— |
|
|
|
23,521 |
|
Total |
|
$ |
301,654 |
|
|
$ |
193,672 |
|
|
$ |
— |
|
|
$ |
495,326 |
|
|
| Summary of Scheduled Maturity for Marketable Securities |
The following table summarizes the scheduled maturity for the Company's marketable securities for the periods presented:
|
|
|
|
|
(in thousands) |
|
June 30, 2026 |
|
Maturing in one year or less |
|
$ |
141,082 |
|
Maturing after one year through two years |
|
|
81,279 |
|
Maturing after two years |
|
|
— |
|
Total |
|
$ |
222,361 |
|
|