v3.26.1
Cash and Cash Equivalents, Investments and Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents, Investments and Fair Value Measurements Cash and Cash Equivalents, Investments and Fair Value Measurements
The following tables present our cash and cash equivalents, and investments’ fair value level classification, adjusted cost, unrealized gain, unrealized loss and fair value as of June 30, 2026 and December 31, 2025 (in thousands):
June 30, 2026
Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:
Cash$15,938 $— $— $15,938 
Money market fundsLevel 128,685 — — 28,685 
Total cash and cash equivalents$44,623 $— $— $44,623 
Short-term investments:
Corporate debt securitiesLevel 2$27,677 $15 $(1)$27,691 
December 31, 2025
Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:
Cash$16,942 $— $— $16,942 
Money market fundsLevel 114,204 — — 14,204 
Total cash and cash equivalents$31,146 $— $— $31,146 
Short-term investments:
Corporate debt securitiesLevel 2$41,549 $125 $— $41,674 
Long-term investments:
Corporate debt securitiesLevel 2$12,290 $102 $— $12,392 

During the three and six months ended June 30, 2026 and 2025, we did not recognize any losses on our investments due to credit related factors and our realized gains and losses on investments were not significant.

The following table presents our cash equivalents and investments' adjusted cost and fair value by contractual maturity as of June 30, 2026 (in thousands):
Adjusted CostFair Value
Due within one year$27,677 $27,691 
Investments not due at a single maturity date28,685 28,685 
Total$56,362 $56,376 

Investments not due at a single maturity date in the preceding table consisted of money market funds.

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

We report our financial instruments at fair value with the exception of the 2026 notes. The estimated fair value was determined based on the trading price as of the last day of trading for the period and we consider it to be a Level 2 measurement due to the limited trading activity. The estimated fair value of the 2026 notes as of June 30, 2026 and December 31, 2025 was $32.6 million and $45.0 million, respectively. For further information on the 2026 notes, refer to Note 6, “Convertible Senior Notes.”