| Schedule of Investments in Marketable Securities |
Investments in marketable securities consisted of the following (in thousands):
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June 30, 2026 |
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|
Amortized
Cost |
|
|
Gross
Unrealized
Gain |
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|
Gross
Unrealized
Loss |
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|
Fair Value |
|
Cash equivalents |
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|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
31,731 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
31,731 |
|
Total cash equivalents |
|
|
31,731 |
|
|
|
— |
|
|
|
— |
|
|
|
31,731 |
|
Short-term marketable securities |
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|
|
|
|
|
|
|
|
|
|
|
Corporate debt securities |
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|
67,362 |
|
|
|
1 |
|
|
|
(96 |
) |
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|
67,267 |
|
Asset-backed securities |
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|
23,123 |
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|
2 |
|
|
|
(21 |
) |
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|
23,104 |
|
U.S. treasury securities |
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|
169,815 |
|
|
|
4 |
|
|
|
(201 |
) |
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|
169,618 |
|
Commercial paper |
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|
28,125 |
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|
|
1 |
|
|
|
(40 |
) |
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|
28,086 |
|
Total short-term marketable securities |
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|
288,425 |
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|
|
8 |
|
|
|
(358 |
) |
|
|
288,075 |
|
Total cash equivalents and marketable securities |
|
$ |
320,156 |
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|
$ |
8 |
|
|
$ |
(358 |
) |
|
$ |
319,806 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gain |
|
|
Gross
Unrealized
Loss |
|
|
Fair Value |
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
57,994 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
57,994 |
|
Total cash equivalents |
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|
57,994 |
|
|
|
— |
|
|
|
— |
|
|
|
57,994 |
|
Short-term marketable securities |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt securities |
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|
37,329 |
|
|
|
34 |
|
|
|
— |
|
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|
37,363 |
|
Asset-backed securities |
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|
11,970 |
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|
19 |
|
|
|
— |
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|
|
11,989 |
|
U.S. treasury securities |
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|
123,267 |
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|
|
170 |
|
|
|
— |
|
|
|
123,437 |
|
Commercial paper |
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|
16,858 |
|
|
|
9 |
|
|
|
— |
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|
|
16,867 |
|
Total short-term marketable securities |
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|
189,424 |
|
|
|
232 |
|
|
|
— |
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|
|
189,656 |
|
Total cash equivalents and marketable securities |
|
$ |
247,418 |
|
|
$ |
232 |
|
|
$ |
— |
|
|
$ |
247,650 |
|
|
| Schedule of Fair Value of Financial Assets |
The following tables present the fair value of the Company’s financial assets measured at fair value on a recurring basis (in thousands):
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|
June 30, 2026 |
|
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|
Level 1 |
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|
Level 2 |
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|
Level 3 |
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|
Fair Value |
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
31,731 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
31,731 |
|
Total cash equivalents |
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|
31,731 |
|
|
|
— |
|
|
|
— |
|
|
|
31,731 |
|
Short-term marketable securities |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt securities |
|
|
— |
|
|
|
67,267 |
|
|
|
— |
|
|
|
67,267 |
|
Asset-backed securities |
|
|
— |
|
|
|
23,104 |
|
|
|
— |
|
|
|
23,104 |
|
U.S. treasury securities |
|
|
— |
|
|
|
169,618 |
|
|
|
— |
|
|
|
169,618 |
|
Commercial paper |
|
|
— |
|
|
|
28,086 |
|
|
|
— |
|
|
|
28,086 |
|
Total short-term marketable securities |
|
|
— |
|
|
|
288,075 |
|
|
|
— |
|
|
|
288,075 |
|
Total assets measured at fair value |
|
$ |
31,731 |
|
|
$ |
288,075 |
|
|
$ |
— |
|
|
$ |
319,806 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
December 31, 2025 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Fair Value |
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
57,994 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
57,994 |
|
Total cash equivalents |
|
|
57,994 |
|
|
|
— |
|
|
|
— |
|
|
|
57,994 |
|
Short-term marketable securities |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt securities |
|
|
— |
|
|
|
37,363 |
|
|
|
— |
|
|
|
37,363 |
|
Asset-backed securities |
|
|
— |
|
|
|
11,989 |
|
|
|
— |
|
|
|
11,989 |
|
U.S. treasury securities |
|
|
— |
|
|
|
123,437 |
|
|
|
— |
|
|
|
123,437 |
|
Commercial paper |
|
|
— |
|
|
|
16,867 |
|
|
|
— |
|
|
|
16,867 |
|
Total short-term marketable securities |
|
|
— |
|
|
|
189,656 |
|
|
|
— |
|
|
|
189,656 |
|
Total assets measured at fair value |
|
$ |
57,994 |
|
|
$ |
189,656 |
|
|
$ |
— |
|
|
$ |
247,650 |
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|