v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements

3. Fair Value Measurements

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2026 and December 31, 2025 (in thousands):

 

 

 

June 30, 2026

 

 

 

Quoted
Prices in
Active
Markets
(Level 1)

 

 

Significant
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

 

Total

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Non-U.S. debt securities

 

$

—

 

 

$

111,404

 

 

 

—

 

 

$

111,404

 

U.S. treasury securities

 

 

—

 

 

 

108,690

 

 

 

—

 

 

 

108,690

 

Total assets measured at fair value

 

$

—

 

 

$

220,094

 

 

$

—

 

 

$

220,094

 

 

 

 

December 31, 2025

 

 

 

Quoted
Prices in
Active
Markets
(Level 1)

 

 

Significant
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

$

—

 

 

$

50,930

 

 

 

—

 

 

$

50,930

 

Non-U.S. debt securities

 

 

—

 

 

 

17,638

 

 

 

—

 

 

 

17,638

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury securities

 

 

—

 

 

 

97,511

 

 

 

—

 

 

 

97,511

 

Total assets measured at fair value

 

$

—

 

 

$

166,079

 

 

$

—

 

 

$

166,079

 

 

The Company’s cash equivalents and marketable securities were valued based on Level 2 inputs and in determining the fair value the Company relied on quoted prices for similar securities in active markets or other inputs that are observable or can be corroborated by observable market data.