Fair Value Measurements and Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

The Company’s fair value hierarchy for its financial instruments measured at fair value on a recurring basis as of June 30, 2026, was as follows (in thousands):


		Fair Value Measurements
As of June 30, 2026		Total				Level 1				Level 2				Level 3
Cash equivalents
Money market funds		$	27,014			$	27,014			$	—			$	—
Available-for-sale marketable securities
U.S. Treasury bills			154,384				—				154,384				—
Corporate debt obligations			13,237				—				13,237				—
Total fair value of assets		$	194,635			$	27,014			$	167,621			$	—

The Company’s fair value hierarchy for its financial instruments measured at fair value on a recurring basis as of December 31, 2025, was as follows (in thousands):


		Fair Value Measurements
As of December 31, 2025		Total				Level 1				Level 2				Level 3
Cash equivalents
Money market funds		$	122,165			$	122,165			$	—			$	—
Available-for-sale marketable securities
U.S. Treasury bills			109,719				—				109,719				—
U.S. Government bonds			45,441				—				45,441				—
Total fair value of assets		$	277,325			$	122,165			$	155,160			$	—