v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements
4. Fair Value Measurements

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis at the periods indicated below, by level within the fair value hierarchy (in thousands):

As of June 30, 2026
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$605,029 $— $— $605,029 
Total$605,029 $— $— $605,029 

As of December 31, 2025
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$325,904 $— $— $325,904 
Total$325,904 $— $— $325,904 

As of June 30, 2026 and December 31, 2025, certain of the Company’s cash equivalents were held in money market funds. The Company’s investments in money market funds are classified within Level 1 of the fair value hierarchy as they are valued using quoted market prices in active markets.
As of June 30, 2026 and December 31, 2025, the Company’s carrying amounts of financial instruments, including cash, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to their short-term maturities.