v3.26.1
FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS:
The FASB established a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1, observable inputs such as quoted prices for identical assets in active markets; Level 2, inputs other than the quoted prices in active markets that are observable either directly or indirectly; and Level 3, unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value.
The Company’s cash equivalents and short-term investments are classified within Level 1 or Level 2 of the fair-value hierarchy because they are valued using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency.
The fair-value hierarchy of the Company’s cash equivalents and short-term investments at June 30, 2026 and December 31, 2025, was as follows:
Fair Value Measurement at
June 30, 2026
(In thousands)Total Fair ValueQuoted Prices in
Active Markets for
Identical Assets
 (Level 1)		Significant Other
Observable Inputs
 (Level 2)
Commercial paper$8,438 $— $8,438 
Corporate securities192,001 — 192,001 
Money market funds593 593 — 
U.S. government securities1,250 — 1,250 
Total$202,282 $593 $201,689 
Fair Value Measurement at
December 31, 2025
(In thousands)Total Fair ValueQuoted Prices in
Active Markets for
Identical Assets
 (Level 1)		Significant Other
 Observable Inputs
(Level 2)
Commercial paper$5,555 $— $5,555 
Corporate securities189,258 — 189,258 
Money market funds3,559 3,559 — 
U.S. government securities999 — 999 
Total$199,371 $3,559 $195,812 
The Company did not transfer any investments between Level 1 and Level 2 of the fair-value hierarchy in the three and six months ended June 30, 2026 and the twelve months ended December 31, 2025.