The following table represents the fair value hierarchy for our financial assets measured at fair value on a recurring basis as of the periods presented below (in thousands):


	September 30, 2026
	Fair Value Measured Using
	Level 1		Level 2		Total
Financial assets:
Cash equivalents:
Money market funds	$	282,745	$	—	$	282,745
U.S. treasury securities	38,293		—		38,293
U.S. government agency securities	—		16,796		16,796
Commercial paper	—		77,517		77,517

Marketable securities:
U.S. treasury securities	40,558		—		40,558
U.S. government agency securities	—		27,548		27,548
Corporate debt securities	—		13,306		13,306
Commercial paper	—		13,517		13,517
Certificates of deposit	—		134,613		134,613
Total financial assets	$	361,596	$	283,297	$	644,893


	December 31, 2025
	Fair Value Measured Using
	Level 1		Level 2		Total
Financial assets:
Cash equivalents:
Money market funds	$	120,923	$	—	$	120,923
U.S. treasury securities	100,251		—		100,251
U.S. government agency securities	—		26,170		26,170
Commercial paper	—		47,466		47,466
Certificates of deposit	—		129,875		129,875

Marketable securities:
U.S. treasury securities	131,379		—		131,379
U.S. government agency securities	—		30,908		30,908
Corporate debt securities	—		36,941		36,941
Commercial paper	—		12,369		12,369

Total financial assets	$	352,553	$	283,729	$	636,282