Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Cash Equivalents and Marketable Securities Measured at Fair Value

The following table presents information about the Company’s cash equivalents and marketable securities that were measured at fair value as of June 30, 2026 and December 31, 2025:


		As of June 30, 2026
(in thousands)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value
Cash equivalents (1):
Money market mutual funds & cash equivalents		$	714			$	0			$	0			$	714
Marketable securities:
U.S. treasury securities		$	99,159			$	0			$	0			$	99,159

(1) Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets, in addition to $57.6 million of cash as of June 30, 2026.


		As of December 31, 2025
(in thousands)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value
Cash equivalents (1):
Money market mutual funds & cash equivalents		$	1,553			$	0			$	0			$	1,553
Marketable securities:
Corporate bonds			0				12,213				0				12,213
U.S. treasury securities			84,625				0				0				84,625
Total marketable securities		$	84,625			$	12,213			$	0			$	96,838

(1) Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets, in addition to $44.6 million of cash, as of December 31, 2025.

Schedule of Marketable Security Contractual Maturities

The contractual maturities of the investments classified as marketable securities were as follows:


(in thousands)		As of June 30, 2026				As of December 31, 2025
Due within 1 year		$	82,996			$	78,479
Due in 1 year through 2 years			16,163				18,359
Total marketable securities		$	99,159			$	96,838

Summary of Gains, Losses, and Estimated Fair Value of Cash Equivalents and Marketable Securities

The following tables summarize the gains, losses, and estimated fair value of cash equivalents, marketable securities as of June 30, 2026 and December 31, 2025:


		As of June 30, 2026
(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Cash equivalents:
Money market mutual funds & cash equivalents		$	714			$	0			$	0			$	714
Marketable securities:
U.S. treasury securities		$	99,289				1			$	(131	)		$	99,159


		As of December 31, 2025
(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Cash equivalents:
Money market mutual funds & cash equivalents		$	1,553			$	0			$	0			$	1,553
Marketable securities:
Corporate bonds			12,155				58				0				12,213
U.S. treasury securities			84,459				166				0				84,625
Total marketable securities		$	96,614			$	224			$	0			$	96,838