v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Classifications of Fair Value Hierarchy We classify the inputs used to measure fair value into the following hierarchy:
Level 1Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2Unadjusted quoted prices in active markets for similar assets or liabilities; unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability.
Level 3Unobservable inputs for the asset or liability.
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis
Our financial assets measured at fair value on a recurring basis are summarized below by their classification within the fair value hierarchy as follows (in thousands):
June 30, 2026
Carrying ValueLevel 1Level 2Level 3Total
Assets
Cash equivalents
Money market funds$9,086 $9,086 $— $— $9,086 
Commercial paper46,092 — 46,092 — 46,092 
Short-term marketable securities
Government securities18,230 — 18,230 — 18,230 
Commercial paper12,140 — 12,140 — 12,140 
Corporate bonds997 — 997 — 997 
Total assets measured at fair value$86,545 $9,086 $77,459 $— $86,545 

December 31, 2025
Carrying ValueLevel 1Level 2Level 3Total
Assets
Cash equivalents
Money market funds$15,563 $15,563 $— $— $15,563 
Short-term marketable securities
Commercial paper3,495 — 3,495 — 3,495 
Total assets measured at fair value$19,058 $15,563 $3,495 $— $19,058 
Schedule of Contractual Maturities
The following table summarizes our cash equivalents and available for sale debt securities by contractual maturity (in thousands):
As of June 30, 2026As of December 31, 2025
Amortized CostFair ValueAmortized CostFair Value
Due in 1 year$84,805 $84,775 $19,058 $19,058 
Due in 1 year through 5 years1,770 1,770 — — 
Total$86,575 $86,545 $19,058 $19,058 
Schedule of Unrealized Gains and Losses
Unrealized gains and losses on available for sale debt securities that are not credit related are included in accumulated other comprehensive income (loss) and summarized as follows (in thousands):
June 30, 2026
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents
Money market funds$9,086 $— $— $9,086 
Commercial paper46,100 — (8)46,092 
Short-term marketable securities
Government securities18,249 — (19)18,230 
Commercial paper12,143 — (3)12,140 
Corporate bonds997 — — 997 
Total$86,575 $— $(30)$86,545 

December 31, 2025
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents
Money market funds$15,563 $— $— $15,563 
Short-term marketable securities
Commercial paper3,495 — — 3,495 
Total$19,058 $— $— $19,058