| Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:
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June 30, 2026 |
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(in thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Cash equivalents |
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Money market funds |
|
$ |
106,896 |
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$ |
— |
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$ |
— |
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|
$ |
106,896 |
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Total cash equivalents |
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|
106,896 |
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|
— |
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— |
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106,896 |
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Marketable securities |
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|
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Corporate bonds |
|
|
— |
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112,438 |
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— |
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|
112,438 |
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Commercial paper |
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— |
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8,424 |
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— |
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8,424 |
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U.S. Treasury bills |
|
|
— |
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|
45,908 |
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|
|
— |
|
|
|
45,908 |
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U.S. Treasuries |
|
|
— |
|
|
|
189,009 |
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|
|
— |
|
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|
189,009 |
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Yankee bonds |
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|
— |
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|
2,495 |
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|
|
— |
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|
2,495 |
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Total marketable securities |
|
|
— |
|
|
|
358,274 |
|
|
|
— |
|
|
|
358,274 |
|
Restricted cash equivalents |
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|
|
|
|
|
|
|
|
|
|
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Money market funds |
|
|
168 |
|
|
|
— |
|
|
|
— |
|
|
|
168 |
|
Liabilities |
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|
|
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|
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Warrant liabilities |
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|
— |
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|
653,894 |
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|
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— |
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|
653,894 |
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|
December 31, 2025 |
|
(in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
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Total |
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|
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Cash equivalents |
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|
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|
|
|
|
|
|
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Money market funds |
|
$ |
392,803 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
392,803 |
|
U.S. Treasury bills |
|
|
— |
|
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|
3,434 |
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|
|
— |
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|
3,434 |
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Total cash equivalents |
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|
392,803 |
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|
3,434 |
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|
|
— |
|
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|
396,237 |
|
Marketable securities |
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|
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|
|
|
|
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U.S. Treasury bills |
|
|
— |
|
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|
13,642 |
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— |
|
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|
13,642 |
|
U.S. Treasuries |
|
|
— |
|
|
|
45,080 |
|
|
|
— |
|
|
|
45,080 |
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Total marketable securities |
|
|
— |
|
|
|
58,722 |
|
|
|
— |
|
|
|
58,722 |
|
Restricted cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
|
168 |
|
|
|
— |
|
|
|
— |
|
|
|
168 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
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Warrant liabilities |
|
|
— |
|
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|
600,547 |
|
|
|
— |
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|
600,547 |
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