v3.26.1
Fair Value Measurements (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Fair Value Disclosures [Abstract]    
Summary of Financial Assets Measured at Fair Value on Recurring Basis and Level of Fair Value Hierarchy Classification
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the fair value hierarchy classification of such fair values as of June 30, 2026 and December 31, 2025 (in thousands):
 
    
Fair Value Measurements at
June 30, 2026
 
    
Total
    
Level 1
    
Level 2
    
Level 3
 
Cash equivalents:
           
Money market funds
   $ 48,466      $ 48,466      $ —       $ —   
Marketable securities:
           
U.S. Treasury securities
     39,646        —         39,646        —   
Corporate bonds
     230,728        —         230,728        —   
  
 
 
    
 
 
    
 
 
    
 
 
 
Total
   $ 318,840      $ 48,466      $ 270,374      $ —   
  
 
 
    
 
 
    
 
 
    
 
 
 
    
Fair Value Measurements at
December 31, 2025
 
    
Total
    
Level 1
    
Level 2
    
Level 3
 
Cash equivalents:
           
Money market funds
   $ 197,533      $ 197,533      $ —       $ —   
Marketable securities:
           
Government agency securities
     3,501        —         3,501        —   
Corporate bonds
     151,272        —         151,272        —   
  
 
 
    
 
 
    
 
 
    
 
 
 
Total
   $ 352,306      $ 197,533      $ 154,773      $ —   
  
 
 
    
 
 
    
 
 
    
 
 
 
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the fair value hierarchy classification of such fair values as of December 31, 2025 and 2024 (in thousands):
 
    
Fair Value Measurements at
December 31, 2025
 
    
Total
    
Level 1
    
Level 2
    
Level 3
 
Cash equivalents:
           
Money market funds
   $ 197,533      $ 197,533      $ —       $ —   
Marketable securities:
           
Government agency securities
     3,501        —         3,501        —   
Corporate bonds
     151,272        —         151,272        —   
  
 
 
    
 
 
    
 
 
    
 
 
 
Total
   $ 352,306      $ 197,533      $ 154,773      $ —   
  
 
 
    
 
 
    
 
 
    
 
 
 
 
    
Fair Value Measurements at
December 31, 2024
 
    
Total
    
Level 1
    
Level 2
    
Level 3
 
Cash equivalents:
           
Money market funds
   $ 45,722      $ 45,722      $ —       $ —   
U.S. Treasury securities
     12,490        —         12,490        —   
Marketable securities:
           
U.S. Treasury securities
     2,496        —         2,496        —   
Government agency securities
     11,282        —         11,282        —   
Corporate bonds
     169,031        —         169,031        —   
  
 
 
    
 
 
    
 
 
    
 
 
 
Total
   $ 241,021      $ 45,722      $ 195,299      $ —