Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):


	June 30, 2026
	Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents – money market funds	$	448,023			$	448,023			$	—			$	—
Total assets	$	448,023			$	448,023			$	—			$	—
Liabilities:
Trinity Term Loans	$	49,260			$	—			$	—			$	49,260
Success Fee Derivative liabilities		1,641				—				—				1,641
Total liabilities	$	50,901			$	—			$	—			$	50,901


	December 31, 2025
	Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents – money market funds	$	317,127			$	317,127			$	—			$	—
Total assets	$	317,127			$	317,127			$	—			$	—
Liabilities:
Trinity Term Loans	$	50,106			$	—			$	—			$	50,106
Success Fee Derivative liabilities		1,552				—				—				1,552
Total liabilities	$	51,658			$	—			$	—			$	51,658