v3.26.1
CASH EQUIVALENTS AND INVESTMENTS (Tables)
6 Months Ended
Jun. 30, 2026
CASH EQUIVALENTS AND INVESTMENTS  
Schedule of cost and fair value of cash equivalents and short-term investments

The amortized cost and fair value of cash equivalents and investments as of June 30, 2026 and December 31, 2025 were as follows (in thousands):

Gross

Gross

Amortized

Unrealized

Unrealized

As of June 30, 2026

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Fair Value

U.S. treasury securities

$

186,980

$

$

(74)

$

186,906

Money market funds

61,130

61,130

Total investments

$

248,110

$

$

(74)

$

248,036

Gross

Gross

Amortized

Unrealized

Unrealized

As of December 31, 2025

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Fair Value

U.S. treasury securities

$

133,839

$

63

$

$

133,902

Money market funds

60,468

60,468

Total investments

$

194,307

$

63

$

$

194,370

Schedule of available-for-sale debt securities

The fair value of cash equivalents and investments as of June 30, 2026 and December 31, 2025, are classified as follows in the Company’s condensed consolidated balance sheets (in thousands):

June 30, 

December 31, 

Classified as:

2026

  ​ ​ ​

2025

Cash equivalents

$

61,130

$

60,468

Short-term investments

186,906

133,902

Total investments

$

248,036

$

194,370

Schedule of fair value of the company's financial assets

As of June 30, 2026 and December 31, 2025, the fair value of the Company’s financial assets that are measured at fair value on a recurring basis, which consist of cash equivalents and short-term and long-term investments classified as available-for-sale securities, are categorized in the table below based upon the lowest level of significant input to the valuations (in thousands):

Assets at Fair Value as of June 30, 2026

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

U.S. treasury securities

$

186,906

$

$

$

186,906

Money market funds

61,130

61,130

Total investments

$

248,036

$

$

$

248,036

Assets at Fair Value as of December 31, 2025

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

U.S. treasury securities

$

133,902

$

$

$

133,902

Money market funds

60,468

60,468

Total

$

194,370

$

$

$

194,370