v3.26.1
Fair Value Measurements and Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present the Company’s fair value hierarchy for its assets that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair value:
As of June 30, 2026:
(in thousands)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$— $41,977 $— $41,977 
Corporate debt securities— 4,976 — 4,976 
Short-term investments:
U.S. Treasury and government securities— 36,070 — 36,070 
Corporate debt securities— 11,550 — 11,550 
Total cash equivalents and investments$— $94,573 $— $94,573 
As of December 31, 2025:
(in thousands)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$— $57,282 $— $57,282 
U.S. Treasury and government securities— 2,739 — 2,739 
Corporate debt securities— 2,698 — 2,698 
Short-term investment:
U.S. Treasury and government securities— 78,152 — 78,152 
Corporate debt securities— 36,496 — 36,496 
Total cash equivalents and investments$— $177,367 $— $177,367 
Schedule of Debt Securities, Available-for-Sale
Unrealized gains and losses of investments in debt securities consisted of the following:
As of June 30, 2026:
(in thousands)Amortized CostUnrealized GainsUnrealized LossesFair Value
Short-term investments in debt securities:
U.S. Treasury and government securities$36,074 $— $(4)$36,070 
Corporate debt securities11,555 — (5)11,550 
Total short-term investments in debt securities$47,629 $— $(9)$47,620 
As of December 31, 2025:
(in thousands)Amortized CostUnrealized GainsUnrealized LossesFair Value
Short-term investments in debt securities:
U.S. Treasury and government securities$78,074 $78 $— $78,152 
Corporate debt securities36,492 7 (3)36,496 
Total short-term investments in debt securities$114,566 $85 $(3)$114,648 
Investments in unrealized loss positions consisted of the following:
As of June 30, 2026:
(in thousands, except number of securities)Number of SecuritiesFair ValueGross Unrealized Losses
Investments in continuous loss position for less than 12 months:
U.S. Treasury and government securities9 $17,582 $(4)
Corporate debt securities13 $11,550 $(5)
Schedule of Investments Classified by Contractual Maturity Date
The contractual maturities of the Company’s investments in debt securities were as follows:
(in thousands)June 30,
2026		December 31,
2025
Due within one year$47,620 $114,648