v3.26.3
Fair Value Measurements and Marketable Securities (Tables)
9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets Measured on Recurring Basis
The following table summarizes the Company's financial assets measured at fair value on a recurring basis as of September 30, 2026 and December 31, 2025:
September 30, 2026December 31, 2025
(in thousands)Level 1Level 2Level 3Level 1Level 2Level 3
Financial Assets:
Cash$125,331 $— $— $107,462 $— $— 
Money market mutual fund8,449 — — 3,364 — — 
Marketable securities12,827 28,442 — 18,301 13,304 — 
Total$146,607 $28,442 $— $129,127 $13,304 $— 
Schedule of Short-Term and Long-Term Marketable Securities
The following table summarizes the amortized cost, unrealized gains (losses), and fair value of the Company’s marketable securities as of September 30, 2026 and December 31, 2025:
September 30, 2026
(in thousands)CostUnrealized GainsUnrealized LossesFair Value
U.S. government agency securities$19,500 $— $(203)$19,297 
Corporate debt securities14,478 — (207)14,271 
U.S. municipal securities6,724 — (23)6,701 
U.S. treasury bonds1,000 — — 1,000 
Total marketable securities$41,702 $— $(433)$41,269 
December 31, 2025
(in thousands)CostUnrealized GainsUnrealized LossesFair Value
U.S. government agency securities$7,500 $9 $(4)$7,505 
Corporate debt securities14,424 9 (7)14,426 
U.S. municipal securities8,631 39 — 8,670 
U.S. treasury bonds1,000 4 — 1,004 
Total marketable securities$31,555 $61 $(11)$31,605 
Schedule of Available-For-Sale Debt Securities by Contractual Maturity
The September 30, 2026 balance of available-for-sale debt securities by contractual maturity is shown in the following table at fair value. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
(in thousands)September 30,
2026
Due in one year or less$17,366 
Due after one year through five years23,903 
Total marketable securities$41,269