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

The following table sets forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy:

 

 

 

June 30, 2026

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

44,695

 

 

$

44,695

 

 

$

 

 

$

 

Commercial paper

 

 

26,761

 

 

 

 

 

 

26,761

 

 

 

 

Corporate debt securities

 

 

44,005

 

 

 

 

 

 

44,005

 

 

 

 

Asset-backed securities

 

 

32,261

 

 

 

 

 

 

32,261

 

 

 

 

U.S. government securities

 

 

14,950

 

 

 

14,950

 

 

 

 

 

 

 

Total

 

$

162,672

 

 

$

59,645

 

 

$

103,027

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

51,333

 

 

$

51,333

 

 

$

 

 

$

 

Commercial paper

 

 

29,139

 

 

 

 

 

 

29,139

 

 

 

 

Corporate debt securities

 

 

16,952

 

 

 

 

 

 

16,952

 

 

 

 

Asset-backed securities

 

 

7,280

 

 

 

 

 

 

7,280

 

 

 

 

U.S. government securities

 

 

29,927

 

 

 

29,927

 

 

 

 

 

 

 

Total

 

$

134,631

 

 

$

81,260

 

 

$

53,371

 

 

$