| Assets and Liabilities Carried at Fair Value Measured on Recurring Basis |
The following tables summarize the Company’s assets by significant categories carried at fair value measured on a recurring basis by valuation hierarchy (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
Carrying
Value |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
|
Cash
Equivalents |
|
|
Marketable Securities |
|
Level 1: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
76,744 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
76,744 |
|
|
$ |
76,744 |
|
|
$ |
— |
|
Subtotal |
|
$ |
76,744 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
76,744 |
|
|
$ |
76,744 |
|
|
$ |
— |
|
Level 2: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
|
$ |
40,090 |
|
|
$ |
— |
|
|
$ |
(29 |
) |
|
$ |
40,061 |
|
|
$ |
— |
|
|
$ |
40,061 |
|
U.S. Agency securities |
|
|
29,972 |
|
|
|
— |
|
|
|
(19 |
) |
|
|
29,953 |
|
|
|
— |
|
|
|
29,953 |
|
Subtotal |
|
$ |
70,062 |
|
|
$ |
— |
|
|
$ |
(48 |
) |
|
$ |
70,014 |
|
|
$ |
— |
|
|
$ |
70,014 |
|
Total |
|
$ |
146,806 |
|
|
$ |
— |
|
|
$ |
(48 |
) |
|
$ |
146,758 |
|
|
$ |
76,744 |
|
|
$ |
70,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Carrying
Value |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
|
Cash
Equivalents |
|
|
Marketable Securities |
|
Level 1: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
89,072 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
89,072 |
|
|
$ |
89,072 |
|
|
$ |
— |
|
Subtotal |
|
$ |
89,072 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
89,072 |
|
|
$ |
89,072 |
|
|
$ |
— |
|
Level 2: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
$ |
89,211 |
|
|
$ |
32 |
|
|
$ |
— |
|
|
$ |
89,243 |
|
|
$ |
4,990 |
|
|
$ |
84,253 |
|
U.S. Treasury securities |
|
|
90,023 |
|
|
|
79 |
|
|
|
(1 |
) |
|
|
90,101 |
|
|
|
— |
|
|
|
90,101 |
|
U.S. Agency securities |
|
|
29,900 |
|
|
|
11 |
|
|
|
— |
|
|
|
29,911 |
|
|
|
— |
|
|
|
29,911 |
|
Subtotal |
|
$ |
209,134 |
|
|
$ |
122 |
|
|
$ |
(1 |
) |
|
$ |
209,255 |
|
|
$ |
4,990 |
|
|
$ |
204,265 |
|
Total |
|
$ |
298,206 |
|
|
$ |
122 |
|
|
$ |
(1 |
) |
|
$ |
298,327 |
|
|
$ |
94,062 |
|
|
$ |
204,265 |
|
|