| Schedule of Company's Financial Instruments by Significant Investment Category Measured at Fair Value on a Recurring Basis Within the Fair Value Hierarchy |
The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis within the fair value hierarchy as of June 30, 2026 (in thousands):
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Fair Value Measurements At Reporting Date Using |
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Total |
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|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
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Significant
Other
Observable
Inputs (Level 2) |
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Significant
Unobservable
Inputs (Level 3) |
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Assets: |
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Cash equivalents—money market funds |
|
$ |
251,404 |
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$ |
251,404 |
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|
$ |
— |
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|
$ |
— |
|
Short-term investments—U.S. treasury securities |
|
|
204,047 |
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|
— |
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|
|
204,047 |
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|
|
— |
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Short-term investments—equity securities |
|
|
2,646 |
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|
2,646 |
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|
|
— |
|
|
|
— |
|
Long-term investments—convertible notes |
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|
5,000 |
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|
— |
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|
— |
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|
|
5,000 |
|
Long-term investments—U.S. treasury securities |
|
|
62,280 |
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|
|
— |
|
|
|
62,280 |
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|
|
— |
|
Total assets measured at fair value |
|
$ |
525,377 |
|
|
$ |
254,050 |
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|
$ |
266,327 |
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|
$ |
5,000 |
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The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis within the fair value hierarchy as of December 31, 2025 (in thousands):
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|
Fair Value Measurements At Reporting Date Using |
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|
|
Total |
|
|
Quoted Prices
in Active
Markets For
Identical Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs (Level 2) |
|
|
Significant
Unobservable
Inputs (Level 3) |
|
Assets: |
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|
|
|
|
|
|
|
|
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|
Cash equivalents—money market funds |
|
$ |
77,615 |
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|
$ |
77,615 |
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|
$ |
— |
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|
$ |
— |
|
Short-term investments—U.S. treasury securities |
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|
60,457 |
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|
— |
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|
60,457 |
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|
|
— |
|
Short-term investments—equity securities |
|
|
6,255 |
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|
|
6,255 |
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|
|
— |
|
|
|
— |
|
Long-term investments—convertible notes |
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|
5,000 |
|
|
|
— |
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|
|
— |
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|
|
5,000 |
|
Long-term investments—U.S. treasury securities |
|
|
20,701 |
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|
|
— |
|
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|
20,701 |
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|
— |
|
Total assets measured at fair value |
|
$ |
170,028 |
|
|
$ |
83,870 |
|
|
$ |
81,158 |
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|
$ |
5,000 |
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|
| Summary of Available-for-Sale Securities |
The following table summarizes available-for-sale securities (in thousands):
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As of June 30, 2026 |
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Maturity (in years) |
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Amortized Cost |
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Unrealized Gains |
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Unrealized Losses |
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|
Estimated Fair Value |
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Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents—money market funds |
|
|
|
$ |
251,404 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
251,404 |
|
Short-term investments—U.S. treasury securities |
|
1 or less |
|
|
204,496 |
|
|
|
1 |
|
|
|
(450 |
) |
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|
204,047 |
|
Short-term investments—equity securities |
|
1 or less |
|
|
4,605 |
|
|
|
— |
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|
(1,959 |
) |
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|
2,646 |
|
Long-term investments—convertible notes |
|
1 - 2 |
|
|
5,000 |
|
|
|
— |
|
|
|
— |
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|
|
5,000 |
|
Long-term investments—U.S. treasury securities |
|
1 - 2 |
|
|
62,446 |
|
|
|
— |
|
|
|
(166 |
) |
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|
62,280 |
|
Total assets measured at fair value |
|
|
|
$ |
527,951 |
|
|
$ |
1 |
|
|
$ |
(2,575 |
) |
|
$ |
525,377 |
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|
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As of December 31, 2025 |
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|
Maturity (in years) |
|
Amortized Cost |
|
|
Unrealized Gains |
|
|
Unrealized Losses |
|
|
Estimated Fair Value |
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Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents—money market funds |
|
|
|
$ |
77,610 |
|
|
$ |
5 |
|
|
$ |
— |
|
|
$ |
77,615 |
|
Short-term investments—U.S. treasury securities |
|
1 or less |
|
|
60,360 |
|
|
|
97 |
|
|
|
— |
|
|
|
60,457 |
|
Short-term investments—equity securities |
|
1 or less |
|
|
6,857 |
|
|
|
17 |
|
|
|
(619 |
) |
|
|
6,255 |
|
Long-term investments—convertible notes |
|
1 - 2 |
|
|
5,000 |
|
|
|
— |
|
|
|
— |
|
|
|
5,000 |
|
Long-term investments—U.S. treasury securities |
|
1 - 2 |
|
|
20,689 |
|
|
|
12 |
|
|
|
— |
|
|
|
20,701 |
|
Total assets measured at fair value: |
|
|
|
$ |
170,516 |
|
|
$ |
131 |
|
|
$ |
(619 |
) |
|
$ |
170,028 |
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