The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis by level, within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):


	June 30, 2026
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	18,922	$	—	$	—	$	18,922
U.S. treasury securities	19,953		—		—		19,953


Marketable securities
U.S. treasury securities	185,536		—		—		185,536
Commercial paper	—		64,453		—		64,453
Corporate bonds	—		34,874		—		34,874


Prepaid expenses and other current assets
Foreign currency forward contracts	—		33		—		33
Total assets	$	224,411	$	99,360	$	—	$	323,771


	December 31, 2025
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	173,099	$	—	$	—	$	173,099



Marketable securities
U.S. treasury securities	205,704		—		—		205,704
Commercial paper	—		152,792		—		152,792
Corporate bonds	—		29,682		—		29,682

Total assets	$	378,803	$	182,474	$	—	$	561,277
Liabilities

Foreign currency forward contracts	$	—	$	37	$	—	$	37
Total liabilities	$	—	$	37	$	—	$	37