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Fair Value Measurements and Short-Term Investments | 12 Months Ended
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Dec. 31, 2025
Fair Value Disclosures [Abstract] |
Fair Value Measurements and Short-Term Investments | Fair Value Measurements and Short-Term Investments The following tables sets forth the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2025 and 2024:
|  | December 31, 2025
| Fair Value Hierarchy Level | Amortized Cost | Unrealized Gain | Unrealized (Loss) | Credit (Loss) | Fair Value
Financial assets included within cash and cash equivalents: |  |  |  |  |  |
Money market funds | Level 1 | $ | 163,588 |  | $ | — |  | $ | — |  | $ | — |  | $ | 163,588 |
U.S. Government treasury bills | Level 2 | 45,300 |  | 12 |  | — |  | — |  | 45,312 |
Financial assets included within short-term investments: |  |  |  |  |  |
Certificate of deposit | Level 2 | 25,000 |  | — |  | — |  | — |  | 25,000 |
U.S. Government treasury bills | Level 2 | 463,022 |  | 160 |  | — |  | — |  | 463,182 |
Total |  | $ | 696,910 |  | $ | 172 |  | $ | — |  | $ | — |  | $ | 697,082 |
|  | December 31, 2024
| Fair Value Hierarchy Level | Amortized Cost | Unrealized Gain | Unrealized (Loss) | Credit (Loss) | Fair Value
Financial assets included within cash and cash equivalents: |  |  |  |  |  |
Money market funds | Level 1 | $ | 88,599 |  | $ | — |  | $ | — |  | $ | — |  | $ | 88,599 |
Financial assets included within short-term investments: |  |  |  |  |  |
U.S. Government treasury bills | Level 2 | 307,387 |  | 100 |  | — |  | — |  | 307,487 |
Total |  | $ | 395,986 |  | $ | 100 |  | $ | — |  | $ | — |  | $ | 396,086 |
The tables above do not include cash at December 31, 2025 and 2024 of $16,366 and $16,263, respectively. The Company believes that the carrying amounts of prepaid expenses, other current assets, accounts payable, and accrued expenses approximates their fair values due to the short-term nature of those instruments. Realized gain (loss) on short-term investments for the years ended December 31, 2025 and 2024 were immaterial, respectively.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/825/tableOfContent + Details
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