v3.26.1
Investments and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Available-For-Sale Investments
The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to cash equivalents and available-for-sale securities on the accompanying condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025. For certain of the Company’s financial instruments, including cash held in banks, accounts receivable, and accounts payable, the carrying amounts approximate fair value due to their short maturities, and are therefore excluded from the fair value tables below.
As of June 30, 2026
Reported as:
Amortized
Cost		Gross
Unrealized
Gain		Gross
Unrealized
Loss		Fair
Value		Cash equivalents*Marketable securities:
(in thousands)
Level 1:
Money market funds$21,652 $— $— $21,652 $21,652 $— 
Level 2:
U.S. Treasury securities70,776 — (87)70,689 4,783 65,906 
Corporate notes and bonds92,276 — (158)92,118 — 92,119 
Commercial paper91,100 — (134)90,966 3,691 87,275 
Municipal Securities500 — — 500 500 — 
Certificates of deposit2,400 — (1)2,399 — 2,400 
Total$278,704 $— $(380)$278,324 $30,626 $247,700 
* Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets in addition to $59.2 million of cash, as of June 30, 2026.
As of December 31, 2025
Reported as:
Amortized
Cost		Gross
Unrealized
Gain		Gross
Unrealized
Loss		Fair
Value		Cash equivalents*Marketable securities:
(in thousands)
Level 1:
Money market funds$44,032 $— $— $44,032 $44,032 $— 
Level 2:
U.S. Treasury securities64,273 27 — 64,300 8,290 56,010 
Corporate notes and bonds50,942 19 — 50,961 4,570 46,391 
Commercial paper111,706 20 (2)111,724 33,928 77,796 
Municipal Securities1,600 — — 1,600 1,600 — 
Certificates of deposit1,399 — — 1,399 400 999 
Total$273,952 $66 $(2)$274,016 $92,820 $181,196 
* Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets in addition to $87.7 million of cash, as of December 31, 2025.
Schedule of Cash and Cash Equivalents
The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to cash equivalents and available-for-sale securities on the accompanying condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025. For certain of the Company’s financial instruments, including cash held in banks, accounts receivable, and accounts payable, the carrying amounts approximate fair value due to their short maturities, and are therefore excluded from the fair value tables below.
As of June 30, 2026
Reported as:
Amortized
Cost		Gross
Unrealized
Gain		Gross
Unrealized
Loss		Fair
Value		Cash equivalents*Marketable securities:
(in thousands)
Level 1:
Money market funds$21,652 $— $— $21,652 $21,652 $— 
Level 2:
U.S. Treasury securities70,776 — (87)70,689 4,783 65,906 
Corporate notes and bonds92,276 — (158)92,118 — 92,119 
Commercial paper91,100 — (134)90,966 3,691 87,275 
Municipal Securities500 — — 500 500 — 
Certificates of deposit2,400 — (1)2,399 — 2,400 
Total$278,704 $— $(380)$278,324 $30,626 $247,700 
* Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets in addition to $59.2 million of cash, as of June 30, 2026.
As of December 31, 2025
Reported as:
Amortized
Cost		Gross
Unrealized
Gain		Gross
Unrealized
Loss		Fair
Value		Cash equivalents*Marketable securities:
(in thousands)
Level 1:
Money market funds$44,032 $— $— $44,032 $44,032 $— 
Level 2:
U.S. Treasury securities64,273 27 — 64,300 8,290 56,010 
Corporate notes and bonds50,942 19 — 50,961 4,570 46,391 
Commercial paper111,706 20 (2)111,724 33,928 77,796 
Municipal Securities1,600 — — 1,600 1,600 — 
Certificates of deposit1,399 — — 1,399 400 999 
Total$273,952 $66 $(2)$274,016 $92,820 $181,196 
* Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets in addition to $87.7 million of cash, as of December 31, 2025.