v3.26.1
Marketable Securities and Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Marketable Securities and Fair Value Measurements Marketable Securities and Fair Value Measurements
As of June 30, 2026, available for sale marketable securities by security type consisted of (in thousands):
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Commercial paper (due within one year)69,394 — (68)69,326 
Corporate notes and bonds (due within one year)30,242 — (66)30,176 
Total$99,636 $— $(134)$99,502 
As of December 31, 2025, available for sale marketable securities by security type consisted of (in thousands):
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
U.S. government agencies (due within one year)1,500 — — 1,500 
Commercial paper (due within one year)35,286 4 (3)35,287 
Corporate notes and bonds (due within one year)41,208 23 — 41,231 
Total$77,994 $27 $(3)$78,018 
The following tables present the Company’s fair value hierarchy for its assets and liabilities, which are measured at fair value on a recurring basis (in thousands):
Fair Value Measurements at June 30, 2026 Using:
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$63,000 $— $— $63,000 
Commercial paper
— 4,922 — 4,922 
Marketable securities:
Commercial paper— 69,326 — 69,326 
Corporate notes and bonds— 30,176 — 30,176 
Total$63,000 $104,424 $— $167,424 
Fair Value Measurements at December 31, 2025 Using:
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$56,357 $— $— $56,357 
Commercial paper— 24,227 — 24,227 
Marketable securities:
U.S. government agencies— 1,500 — 1,500 
Commercial paper— 35,287 — 35,287 
Corporate notes and bonds— 41,231 — 41,231 
Total$56,357 $102,245 $— $158,602 
For the three and six months ended June 30, 2026 and 2025, there were no transfers between Level 1, Level 2 and Level 3.