The following tables summarize the cost or amortized cost, gross unrealized gain, gross unrealized loss, and fair value of the Company’s cash equivalents and marketable securities as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	Cost or Amortized Cost		Unrealized				Estimated Fair Value
			Gains		Losses
Cash equivalents
Money market funds	$	45,263	$	—	$	—	$	45,263
Commercial paper	4,337		—		(1)		4,336
Corporate bonds	801		—		(1)		800
Short-term marketable securities
Certificates of deposit	25,000		—		—		25,000
Commercial paper	28,902		—		(8)		28,894
Corporate notes/bonds	100,523		—		(124)		100,399
U.S. Government agencies	2,002		—		—		2,002
U.S. Treasury securities	—		—		—		—
Long-term marketable securities
Corporate notes/bonds	3,999		2		—		4,001
U.S. Government agencies	1,000		—		—		1,000
Total	$	211,827	$	2	$	(134)	$	211,695


	December 31, 2025
	Cost or Amortized Cost		Unrealized				Estimated Fair Value
			Gains		Losses
Cash equivalents
Money market funds	$	86,714	$	—	$	—	$	86,714
Commercial paper	3,995		—		—		3,995
Corporate bonds	—		—		—		—
Short-term marketable securities
Certificates of deposit	40,001		181		—		40,182
Commercial paper	35,814		—		—		35,814
Corporate notes/bonds	47,912		16		—		47,928
U.S. Government agencies	1,251		—		—		1,251
U.S. Treasury securities	1,994		1		—		1,995
Long-term marketable securities
Corporate notes/bonds	20,348		—		(7)		20,341
U.S. Government agencies	6,005		—		(2)		6,003
Total	$	244,034	$	198	$	(9)	$	244,223

For marketable securities with unrealized loss positions, the Company does not intend to sell these securities, and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. No allowance for credit losses was recorded for these securities as of June 30, 2026 or December 31, 2025.