Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule 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 and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):


		Fair value measurements as of June 30, 2026
		Level 1				Level 2				Level 3				Total
Assets:
Cash equivalents:
Money market funds		$	24,389			$	—			$	—			$	24,389
Marketable Securities:
Commercial paper			—				142,049				—				142,049
Corporate bonds			—				17,489				—				17,489
Total		$	24,389			$	159,538			$	-			$	183,927
Liabilities:
Preferred stock warrant liability		$	-			$	-			$	1			$	1
Total financial liabilities		$	-			$	-			$	1			$	1


		Fair value measurements as of December 31, 2025
		Level 1				Level 2				Level 3				Total
Assets:
Cash equivalents:
Money market funds		$	7,896			$	—			$	—			$	7,896
Marketable Securities:
Commercial paper			—				9,772				—				9,772
Corporate bonds			—				2,744				—				2,744
Total		$	7,896			$	12,516			$	—			$	20,412

Schedule of Fair Value Using the Black-Scholes Method

The Company concluded that the Warrants required liability classification based on the guidance in ASC 480. The Warrants were recorded at fair value using the Black-Scholes method with the following inputs:


		For the six months ended June 30,
		2026
Expected equity volatility			60	%
Risk-free interest rate			3.54	%
Expected term (years)		1.5

Schedule of Aggregate Fair Values of Preferred Stock Warrant Liability

The following table presents a roll-forward of the aggregate fair values of the Preferred Stock Warrant Liability (in thousands):


			Preferred Stock Warrant Liability
Balance as of February 17, 2026			$	1
Change in fair value				-
Balance as of June 30, 2026			$	1