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Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
4. Fair Value Measurements

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis at the periods indicated below, by level within the fair value hierarchy (in thousands):

As of December 31, 2025
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$325,904 $— $— $325,904 
Total$325,904 $— $— $325,904 

As of December 31, 2024
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$278,235 $— $— $278,235 
Total$278,235 $— $— $278,235 
As of December 31, 2025 and 2024, certain of the Company’s cash equivalents were held in money market funds. The Company’s investments in money market funds are classified within Level 1 of the fair value hierarchy as they are valued using quoted market prices in active markets.
As of December 31, 2025 and 2024, the Company’s carrying amounts of financial instruments, including cash, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximate their fair value due to their short-term maturities.