The following table summarizes the Company’s fair value measurements by level at June 30, 2026 for the assets measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | (in thousands) | | Cash equivalents | $ | 18,369 | | | $ | 11,224 | | | $ | — | | | Short-term investments | — | | | 15,744 | | | — | | | Publicly-traded equity securities | 211 | | | — | | | — | | | Fair value, June 30, 2026 | $ | 18,580 | | | $ | 26,968 | | | $ | — | |
The following table summarizes the Company’s fair value measurements by level at December 31, 2025 for the assets measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | (in thousands) | | Cash equivalents | $ | 3,699 | | | $ | 24,696 | | | $ | — | | | Fair value, December 31, 2025 | $ | 3,699 | | | $ | 24,696 | | | $ | — | |
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