v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value and Classification of Instruments The fair value of these assets and liabilities as of June 30, 2026 and December 31, 2025 are classified as follows (in thousands):
As of June 30, 2026
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Money market funds$149,606 $— $— $149,606 
U.S. Treasury securities— 1,135 — 1,135 
Short-term investments:
U.S. Treasury securities— 197,923 — 197,923 
Prepaid expenses and other assets, noncurrent:
Convertible Note Investment— — 19,999 19,999 
Total assets$149,606 $199,058 $19,999 $368,663 
As of December 31, 2025
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Money market funds$332,808 $— $— $332,808 
Prepaid expenses and other assets, noncurrent:
Convertible Note Investment— — 24,726 24,726 
Total assets$332,808 $— $24,726 $357,534 
Schedule of Change in Fair Value of Level 3 Instruments
The change in fair value of the Level 3 instruments are as follows (in thousands):
As of June 30, 2026
Convertible Note Investment
Fair value, beginning of the year
$24,726 
Changes in fair value(4,727)
Fair value, end of period
$19,999