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

The following tables summarize financial assets that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

 

June 30, 2026

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds (included in cash and cash equivalents)

 

$

37,222

 

 

$

37,222

 

 

$

—

 

 

$

—

 

U.S. government bonds

 

 

43,744

 

 

 

—

 

 

 

43,744

 

 

 

—

 

Government agency obligations

 

 

9,991

 

 

 

—

 

 

 

9,991

 

 

 

—

 

Corporate debt obligations

 

 

16,574

 

 

 

—

 

 

 

16,574

 

 

 

—

 

Commercial paper

 

 

11,327

 

 

 

—

 

 

 

11,327

 

 

 

—

 

Total fair value of assets

 

$

118,858

 

 

$

37,222

 

 

$

81,636

 

 

$

—

 

 

 

December 31, 2025

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds (included in cash and cash equivalents)

 

$

40,721

 

 

$

40,721

 

 

$

—

 

 

$

—

 

U.S. government bonds

 

 

72,177

 

 

 

—

 

 

 

72,177

 

 

 

—

 

Government agency obligations

 

 

15,825

 

 

 

—

 

 

 

15,825

 

 

 

—

 

Corporate debt obligations

 

 

15,211

 

 

 

—

 

 

 

15,211

 

 

 

—

 

Commercial paper

 

 

15,864

 

 

 

—

 

 

 

15,864

 

 

 

—

 

Total fair value of assets

 

$

159,798

 

 

$

40,721

 

 

$

119,077

 

 

$

—