Marketable Securities

6 Months Ended

Jun. 30, 2026

Debt Securities, Available-for-Sale [Abstract]

3. Marketable Securities


								As of June 30, 2026
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Marketable Securities
US Treasury obligations	$	29,946	$	—	$	(21	)	$	29,925
Asset-backed securities		2,508		—		(1	)		2,507
Commercial paper		16,466		—		(3	)		16,463
Corporate bonds		94,093		—		(71	)		94,022
Total	$	143,013	$	—	$	(96	)	$	142,917


								As of December 31, 2025
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Marketable Securities
US Treasury obligations	$	59,786	$	59	$	—		$	59,845
Asset-backed securities		43,183		54		—			43,237
Commercial paper		9,418		4		—			9,422
Corporate bonds		93,556		59		(2	)		93,613
Total	$	205,943	$	176	$	(2	)	$	206,117

As of June 30, 2026 and December 31, 2025, the Company held 37 and one securities, respectively, that were in an unrealized loss position of $96 and $2, respectively. The Company has the intent and ability to hold such securities until recovery. As a result, the Company did not record any charges for credit-related impairments for its marketable debt securities for the six months ended June 30, 2026.

The fair value of available-for-sale marketable securities by contractual maturity was as follows as of June 30, 2026:


	As of June 30,
	2026
Maturing in one year or less	$	140,410
Maturing after one year through five years		2,507
Total	$	142,917

The Company received proceeds of $172,409 and $324,266 from sales and maturities of marketable securities during the six months ended June 30, 2026 and 2025.