v3.26.1
Fair Value Measurement
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The following table presents the Company’s liabilities measured at fair value on a recurring and nonrecurring basis and indicates the fair value hierarchy of the valuation as of June 30, 2026 and December 31, 2025 (in thousands):
June 30, 2026Level 1Level 2Level 3Total
Assets
Cash and cash equivalents:
Money market funds$245,768 $— $— $245,768 
Total$245,768 $— $— $245,768 
Liabilities
Accrued expenses and other current liabilities
Derivative liabilities - cash flow hedges$— $878 $— $878 
Total$— $878 $— $878 
December 31, 2025Level 1Level 2Level 3Total
Assets
Cash and cash equivalents
Money market funds$236,425 $— $— $236,425 
Certificates of deposit— 8,000 — 8,000 
Total$236,425 $8,000 $— $244,425 
Money market funds are classified within Level 1 as the valuation input is based on quoted prices in active markets for identical instruments. Foreign currency forward contracts designated as cash flow hedges are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments in active markets, such as currency spot and forward rates.
The Company did not make any transfers between the levels of the fair value hierarchy during the six months ended June 30, 2026.