v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis are as follows (in thousands):

 

 

 

 

 

 

Fair Value Measurements Using

 

 

 

Total

 

 

Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

As of June 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

14,253

 

 

$

14,253

 

 

$

—

 

 

$

—

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

19,312

 

 

 

—

 

 

 

19,312

 

 

 

—

 

Corporate debt securities

 

 

16,938

 

 

 

—

 

 

 

16,938

 

 

 

—

 

Municipal bonds

 

 

5,008

 

 

 

—

 

 

 

5,008

 

 

 

—

 

Total available-for-sale investments

 

 

41,258

 

 

 

—

 

 

 

41,258

 

 

 

—

 

Total assets measured at fair value

 

$

55,511

 

 

$

14,253

 

 

$

41,258

 

 

$

—

 

 

 

 

 

 

 

Fair Value Measurements Using

 

 

 

Total

 

 

Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

As of December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

7,916

 

 

$

7,916

 

 

$

—

 

 

$

—

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

33,626

 

 

 

—

 

 

 

33,626

 

 

 

—

 

Corporate debt securities

 

 

29,281

 

 

 

—

 

 

 

29,281

 

 

 

—

 

Municipal bonds

 

 

5,037

 

 

 

—

 

 

 

5,037

 

 

 

—

 

Total available-for-sale investments

 

 

67,944

 

 

 

—

 

 

 

67,944

 

 

 

—

 

Total assets measured at fair value

 

$

75,860

 

 

$

7,916

 

 

$

67,944

 

 

$

—

 
Schedule of Available-for-sale Investments

As of June 30, 2026 and December 31, 2025, available-for-sale investments are detailed as follows (in thousands):

 

 

 

 

 

June 30, 2026

 

 

 

Contractual Maturity

 

Gross
Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Market Value

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

Within 1 year

 

$

19,319

 

 

$

—

 

 

$

(7

)

 

$

19,312

 

Corporate debt securities

 

Within 1 year

 

 

16,945

 

 

 

—

 

 

 

(7

)

 

 

16,938

 

Municipal bonds

 

Within 1 year

 

 

5,012

 

 

 

—

 

 

 

(4

)

 

 

5,008

 

 

 

 

 

$

41,276

 

 

$

—

 

 

$

(18

)

 

$

41,258

 

 

 

 

 

 

December 31, 2025

 

 

 

Contractual Maturity

 

Gross
Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Market Value

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

Within 1 year

 

$

33,602

 

 

$

24

 

 

$

—

 

 

$

33,626

 

Corporate debt securities

 

Within 1 year

 

 

29,269

 

 

 

17

 

 

 

(5

)

 

 

29,281

 

Municipal bonds

 

Within 1 year

 

 

5,031

 

 

 

6

 

 

 

—

 

 

 

5,037

 

 

 

 

 

$

67,902

 

 

$

47

 

 

$

(5

)

 

$

67,944