v3.26.1
Condensed Consolidated Statement of Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance at Dec. 31, 2024 $ 305,427 $ 37 $ 429,657 $ (522) $ (123,745)
Beginning balance, shares at Dec. 31, 2024   36,580,202      
Stock-based compensation expense 4,040   4,040    
Issuance of common stock upon exercise of stock options 6   6    
Issuance of common stock upon exercise of stock options, shares   3,240      
Repurchase of unvested restricted common stock (1)   (1)    
Repurchase of unvested restricted common stock, shares   (86,008)      
Net loss (24,063)       (24,063)
Change in unrealized gain (loss) on investments, net of tax 427     427  
Ending balance at Mar. 31, 2025 285,836 $ 37 433,702 (95) (147,808)
Ending balance, shares at Mar. 31, 2025   36,497,434      
Beginning balance at Dec. 31, 2024 305,427 $ 37 429,657 (522) (123,745)
Beginning balance, shares at Dec. 31, 2024   36,580,202      
Net loss (50,795)        
Change in unrealized gain (loss) on investments, net of tax 446        
Ending balance at Jun. 30, 2025 263,512 $ 37 438,091 (76) (174,540)
Ending balance, shares at Jun. 30, 2025   36,497,677      
Beginning balance at Mar. 31, 2025 285,836 $ 37 433,702 (95) (147,808)
Beginning balance, shares at Mar. 31, 2025   36,497,434      
Stock-based compensation expense 4,389   4,389    
Issuance of common stock upon exercise of stock options, shares   243      
Net loss (26,732)       (26,732)
Change in unrealized gain (loss) on investments, net of tax 19     19  
Ending balance at Jun. 30, 2025 263,512 $ 37 438,091 (76) (174,540)
Ending balance, shares at Jun. 30, 2025   36,497,677      
Beginning balance at Dec. 31, 2025 $ 484,653 $ 48 719,287 546 (235,228)
Beginning balance, shares at Dec. 31, 2025 47,772,567 47,772,567      
Stock-based compensation expense $ 6,963   6,963    
Issuance of common stock upon exercise of stock options 809   809    
Issuance of common stock upon exercise of stock options, shares   80,867      
Vesting of restricted stock units, shares   6,994      
Repurchase of unvested restricted common stock (5)   (5)    
Repurchase of unvested restricted common stock, shares   (52,975)      
Net loss (19,857)       (19,857)
Change in unrealized gain (loss) on investments, net of tax (1,051)     (1,051)  
Ending balance at Mar. 31, 2026 471,512 $ 48 727,054 (505) (255,085)
Ending balance, shares at Mar. 31, 2026   47,807,453      
Beginning balance at Dec. 31, 2025 $ 484,653 $ 48 719,287 546 (235,228)
Beginning balance, shares at Dec. 31, 2025 47,772,567 47,772,567      
Issuance of common stock upon exercise of stock options, shares 228,493        
Net loss $ (76,472)        
Change in unrealized gain (loss) on investments, net of tax (1,816)        
Ending balance at Jun. 30, 2026 $ 422,926 $ 48 735,848 (1,270) (311,700)
Ending balance, shares at Jun. 30, 2026 47,955,079 47,955,079      
Beginning balance at Mar. 31, 2026 $ 471,512 $ 48 727,054 (505) (255,085)
Beginning balance, shares at Mar. 31, 2026   47,807,453      
Stock-based compensation expense 7,202   7,202    
Issuance of common stock upon exercise of stock options 1,592   1,592    
Issuance of common stock upon exercise of stock options, shares   147,626      
Net loss (56,615)       (56,615)
Change in unrealized gain (loss) on investments, net of tax (765)     (765)  
Ending balance at Jun. 30, 2026 $ 422,926 $ 48 $ 735,848 $ (1,270) $ (311,700)
Ending balance, shares at Jun. 30, 2026 47,955,079 47,955,079