Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2026 are summarized as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2026 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Assets |
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
66,488 |
|
|
$ |
— |
|
|
$ |
— |
|
Total cash equivalents |
|
|
66,488 |
|
|
|
— |
|
|
|
— |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
|
— |
|
|
|
453,436 |
|
|
|
— |
|
Corporate debt securities |
|
|
— |
|
|
|
59,898 |
|
|
|
— |
|
U.S. government agency securities |
|
|
— |
|
|
|
79,499 |
|
|
|
— |
|
Total marketable securities |
|
|
— |
|
|
|
592,833 |
|
|
|
— |
|
Total assets |
|
$ |
66,488 |
|
|
$ |
592,833 |
|
|
$ |
— |
|
Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 are summarized as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Assets |
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
72,932 |
|
|
$ |
— |
|
|
$ |
— |
|
Corporate debt securities |
|
|
— |
|
|
|
9,981 |
|
|
|
— |
|
Total cash equivalents |
|
|
72,932 |
|
|
|
9,981 |
|
|
|
— |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
|
— |
|
|
|
485,529 |
|
|
|
— |
|
Corporate debt securities |
|
|
— |
|
|
|
132,941 |
|
|
|
— |
|
U.S. government agency securities |
|
|
— |
|
|
|
81,537 |
|
|
|
— |
|
Total marketable securities |
|
|
— |
|
|
|
700,007 |
|
|
|
— |
|
Total assets |
|
$ |
72,932 |
|
|
$ |
709,988 |
|
|
$ |
— |
|
|