v3.26.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table presents the fair values of the Company’s cash equivalents, held-to-maturity investments and outstanding debt obligations by level within the fair value hierarchy (in thousands):

As of September 30, 2026Level 1Level 2
Other(1)
Total
Cash equivalents
Money market funds$— $— $71,051 $71,051 
U.S. treasury securities44,635 — — 44,635 
Investments in marketable securities
U.S. treasury securities31,662 — — 31,662 
Corporate debt securities— 9,517 — 9,517 
Total assets$76,297 $9,517 $71,051 $156,865 
Financial liabilities
Convertible senior notes(2)
— 187,394 — 187,394 
Total liabilities$— $187,394 $— $187,394 

As of December 31, 2025Level 1Level 2
Other(1)
Total
Cash equivalents
Money market funds$— $— $8,729 $8,729 
Investments in marketable securities
U.S. treasury securities9,473 — — 9,473 
Corporate debt securities— 12,744 — 12,744 
Total assets$9,473 $12,744 $8,729 $30,946 
_______________
(1) Investments in money market funds measured at fair value using the net asset value per share practical expedient are not subject to hierarchy level classification disclosure. The Company invests in money market funds that seek to maintain a stable net asset value. These investments include commingled funds that comprise high-quality short-term securities representing liquid debt and monetary instruments where the redemption value is likely to be the fair value. Redemption is permitted daily without written notice.
(2) The fair value of the Company’s convertible senior notes was determined based on observable market prices of identical instruments in less active markets.
There were no transfers between levels of the fair value hierarchy during the periods presented. There were no material assets or liabilities that were measured at fair value on a non-recurring basis during the three and nine months ended September 30, 2026. During the year ended December 31, 2025, the only significant assets measured at fair value on a non-recurring basis were right-of-use assets related to the Company’s corporate headquarters lease, as discussed in Note 5 to Notes to Consolidated Financial Statements included in the Company’s Annual Report.