Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Carried at Fair Value on Recurring Basis by Level, within Fair Value Hierarchy

The following table sets forth by level, within the fair value hierarchy, the assets and liabilities carried at fair value on a recurring basis (in thousands):


		Fair Value Measurement as of June 30, 2026
		Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	33,700			$	—			$	—			$	33,700
Government securities			—				10,439				—				10,439
		$	33,700			$	10,439			$	—			$	44,139
Marketable securities:
Government securities		$	—			$	172,056			$	—			$	172,056
Term deposits			—				150,000				—				150,000
		$	—			$	322,056			$	—			$	322,056


		Fair Value Measurement as of December 31, 2025
		Level 1				Level 2				Level 3				Total
Cash equivalents:
Money market funds		$	92,788			$	—			$	—			$	92,788
		$	92,788			$	—			$	—			$	92,788
Marketable securities:
Government securities		$	—			$	99,848			$	—			$	99,848
		$	—			$	99,848			$	—			$	99,848
Liabilities:
Warrant to purchase convertible preferred stock		$	—			$	—			$	1,205			$	1,205
		$	—			$	—			$	1,205			$	1,205

Roll-forward of Aggregate Fair Values of Liabilities Determined by Level 3 Inputs

The following table presents a roll-forward of the aggregate fair values of the Company’s liabilities for which fair value is determined by Level 3 inputs (in thousands):


		Warrant to purchase convertible preferred stock
Balance as of December 31, 2025		$	1,205
Change in fair value			363
Reclassification of warrant liability to equity			(1,568	)
Balance as of June 30, 2026		$	-