v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The fair value of the Company’s financial assets measured on a recurring basis was as follows:
June 30, 2026
Level ITotal
Cash and cash equivalents:
Cash$48,854 $48,854 
Money market funds718,172 718,172 
Total cash and cash equivalents$767,026 $767,026 
December 31, 2025
Level ITotal
Cash and cash equivalents:
Cash$57,363 $57,363 
Money market funds197,112 197,112 
Total cash and cash equivalents$254,475 $254,475 
The Company classifies its highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company had no Level 2 or Level 3 financial assets as of June 30, 2026 and December 31, 2025.
Interest income from investments was $6,390, and $3,202 for the three months ended June 30, 2026 and 2025, respectively, and $9,267 and $6,859 for the six months ended June 30, 2026 and 2025, respectively.
Financial Instruments Not Recorded at Fair Value on a Recurring Basis
The Company reports financial instruments at fair value, with the exception of its convertible notes. Financial instruments that are not recorded at fair value on a recurring basis are measured at fair value on a quarterly basis for disclosure purposes. Refer to Note 6. Debt for the carrying values and estimated fair values of financial instruments not recorded at fair value.