v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following categories:
Level 1: Measured using unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
Level 2: Measured using quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs, other than quoted prices in active markets, that are observable either directly or indirectly.
Level 3: Measured based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable from objective sources (i.e., supported by little or no market activity).
Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values stated below considers the market for the financial assets and liabilities, the associated credit risk and other factors as required. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis.
The following tables present the Company's fair value hierarchy for those assets and liabilities measured at fair value as of June 30, 2026 and December 31, 2025 (in thousands):
Total as of
June 30, 2026
Level 1Level 2Level 3
Assets
Cash and cash equivalents:
     Cash and money market funds$121,747 $121,747 $— $— 
Other assets:
Restricted cash$4,021 $4,021 $— $— 
Total as of December 31, 2025
Level 1Level 2Level 3
Assets
Cash and cash equivalents:
     Cash and money market funds$111,042 $111,042 $— $— 
Other assets:
Restricted cash$4,021 $4,021 $— $—