Fair Value Measurements (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Fair Value of Assets Measured on a Recurring Basis |
The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | Money market funds and cash | $ | 28,658 | | | $ | — | | | $ | — | | | $ | 28,658 | | Certificates of deposit | — | | | 5,463 | | — | | | 5,463 | Commercial paper | — | | | 16,567 | | — | | | 16,567 | | Corporate debt securities | — | | | 94,134 | | | — | | | 94,134 | | U.S. Treasury and agency securities | 93,730 | | | — | | | — | | | 93,730 | | | Total assets | $ | 122,388 | | | $ | 116,164 | | | $ | — | | | $ | 238,552 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | | | | | | Assets: | | | | | | Money market funds and cash | $ | 37,541 | | $ | — | | $ | — | | | $ | 37,541 | | | | | | Certificates of deposit | — | | | 5,366 | | — | | | 5,366 | | | | | | Commercial paper | — | | 14,789 | | — | | | 14,789 | | | | | | | Corporate debt securities | — | | | 78,764 | | — | | | 78,764 | | | | | | U.S. Treasury and agency securities | 84,522 | | — | | — | | | 84,522 | | | | | | | Total assets | $ | 122,063 | | $ | 98,919 | | $ | — | | | $ | 220,982 | | | | | |
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| Schedule of Cash and Cash Equivalents |
The following table summarizes the estimated value of the Company’s cash, cash equivalents, and marketable securities, and the gross unrealized holding gains and losses (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Amortized
cost | | Unrealized
gains | | Unrealized
losses | | Estimated
fair value | | Cash and cash equivalents: | | | | | | | | | | | Money market funds and cash | $ | 28,658 | | | $ | — | | | $ | — | | | $ | 28,658 | | | | | | | | | | Certificates of deposit | 5,463 | | | — | | | — | | | 5,463 | | | Total cash and cash equivalents | $ | 34,121 | | | $ | — | | | $ | — | | | $ | 34,121 | | | Marketable securities: | | | | | | | | | | | | | | | | | Commercial paper | $ | 16,584 | | | $ | — | | | $ | (17) | | | $ | 16,567 | | | Corporate debt securities | 94,325 | | | 1 | | | (192) | | | 94,134 | | U.S. Treasury and agency securities | 93,856 | | | — | | | (126) | | | 93,730 | | | Total marketable securities | $ | 204,765 | | | $ | 1 | | | $ | (335) | | | $ | 204,431 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | Amortized
cost | | Unrealized
gains | | Unrealized
losses | | Estimated
fair value | | | | Cash and cash equivalents: | | | | | Money market funds and cash | $ | 37,541 | | | $ | — | | | $ | — | | | $ | 37,541 | | | | Certificates of deposit | 5,366 | | | — | | | — | | | 5,366 | | | | | Total cash and cash equivalents | $ | 42,907 | | | $ | — | | | $ | — | | | $ | 42,907 | | | | | Marketable securities: | | | | | | | | | | | Commercial paper | $ | 14,782 | | | $ | 8 | | | $ | (1) | | | $ | 14,789 | | | | | Corporate debt securities | 78,687 | | | 81 | | | (4) | | | 78,764 | | | | U.S. Treasury and agency securities | 84,493 | | | 45 | | | (16) | | | 84,522 | | | | | Total marketable securities | $ | 177,962 | | | $ | 134 | | | $ | (21) | | | $ | 178,075 | | | |
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| Schedule of Marketable Securities |
The following table summarizes the estimated value of the Company’s cash, cash equivalents, and marketable securities, and the gross unrealized holding gains and losses (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Amortized
cost | | Unrealized
gains | | Unrealized
losses | | Estimated
fair value | | Cash and cash equivalents: | | | | | | | | | | | Money market funds and cash | $ | 28,658 | | | $ | — | | | $ | — | | | $ | 28,658 | | | | | | | | | | Certificates of deposit | 5,463 | | | — | | | — | | | 5,463 | | | Total cash and cash equivalents | $ | 34,121 | | | $ | — | | | $ | — | | | $ | 34,121 | | | Marketable securities: | | | | | | | | | | | | | | | | | Commercial paper | $ | 16,584 | | | $ | — | | | $ | (17) | | | $ | 16,567 | | | Corporate debt securities | 94,325 | | | 1 | | | (192) | | | 94,134 | | U.S. Treasury and agency securities | 93,856 | | | — | | | (126) | | | 93,730 | | | Total marketable securities | $ | 204,765 | | | $ | 1 | | | $ | (335) | | | $ | 204,431 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | Amortized
cost | | Unrealized
gains | | Unrealized
losses | | Estimated
fair value | | | | Cash and cash equivalents: | | | | | Money market funds and cash | $ | 37,541 | | | $ | — | | | $ | — | | | $ | 37,541 | | | | Certificates of deposit | 5,366 | | | — | | | — | | | 5,366 | | | | | Total cash and cash equivalents | $ | 42,907 | | | $ | — | | | $ | — | | | $ | 42,907 | | | | | Marketable securities: | | | | | | | | | | | Commercial paper | $ | 14,782 | | | $ | 8 | | | $ | (1) | | | $ | 14,789 | | | | | Corporate debt securities | 78,687 | | | 81 | | | (4) | | | 78,764 | | | | U.S. Treasury and agency securities | 84,493 | | | 45 | | | (16) | | | 84,522 | | | | | Total marketable securities | $ | 177,962 | | | $ | 134 | | | $ | (21) | | | $ | 178,075 | | | |
The following table summarizes the amortized cost and fair value of marketable securities by contractual maturity at June 30, 2026 and December 31, 2025. | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Amortized
cost | | Estimated
fair value | | Amortized
cost | | Estimated
fair value | Maturing within one year | $ | 143,804 | | $ | 143,615 | | $ | 138,281 | | $ | 138,395 | Maturing in one to five years | 60,961 | | 60,816 | | 39,681 | | 39,680 | Total marketable securities | $ | 204,765 | | $ | 204,431 | | $ | 177,962 | | $ | 178,075 |
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